The Bureau of Labor Statistics has spoken. Total quantity of jobs in the U.S. declined by 131,000 last month. This is mostly due to the layoffs of 143,000 Census workers who had completed their short-term job assignments. However, according to the American Staffing Association, staffing employment is up 25% over this same time last year. Additionally, it has shown a steady increase over the last 24-week period.
Also, the Bureau of Labor Statistics stated that the current unemployment rate is still holding steady at 9.5%. Not the oft repeated 10% figure the media touts. That is true in some states like California, but overall the picture is not quite so bleak. In the last 10 months, staffing firms have increased the number of new workers on their payroll by 363,000 workers, despite the recent slowing in job growth. The American Staffing Association also outlined that between July 26 and Aug. 1, 2010, temporary and contract employment saw an increase of 1.75%.
Last month, Express franchisees set an all-time record for one-week sales volume. For the week of June 21-27, 2010, more than $29 million in sales were generated. Express continues to grow, experiencing yet another record of more than $30 million in sales for the week ending August 1.*
Consider discussing the possibility of a staffing franchise with your favorite franchise consultant.
Tuesday, August 17, 2010
Friday, August 13, 2010
Dallas Franchises
Starting a franchise is potentially rewarding, but almost always terrifying venture. Franchises bring a great deal of expertise to the table including location selection, marketing system, business plan, accounting principles and human resource policies. Considering the amount of work the franchise has already done for the new entrepreneur, the franchise fee is really quite a bargain.
But most people want to open a franchise in their local area. This can be limiting, but some areas definitely lend themselves to new franchises.
Dallas Franchises
Dallas is one such location that seems always ready to welcome a new franchise business. Texas hospitality invites new ideas, new concepts and new businesses like long lost cousins. Several areas of the city are growing rapidly and making the city an excellent location for tried and true business concepts like food service, oil change and specialty retail.
But most people want to open a franchise in their local area. This can be limiting, but some areas definitely lend themselves to new franchises.
Dallas Franchises
Dallas is one such location that seems always ready to welcome a new franchise business. Texas hospitality invites new ideas, new concepts and new businesses like long lost cousins. Several areas of the city are growing rapidly and making the city an excellent location for tried and true business concepts like food service, oil change and specialty retail.
Starting a Business When All You Have Left is a Credit Card
Starting a Business When All You Have Left is a Credit Card
By Ed Wills
Ralph was tired of his work as an engineer. The work was steady, but the income, though adequate, was limited. Like most, he was living month to month. So he quit his job and invested $20,000 on a credit card to open his consulting firm. He earned over $500,000 in his fourth year.
Jim had a dream, a couple of friends and a credit card with $300 left on it. Rather than despair, he decided to go into business for himself. He took his mother's old green coat, a ping pong ball, a couple of sticks and made a hybrid cross between a hand puppet and a marionette. He called it a Muppet and named the lizard Kermit. (He later changed it into a frog.) The rest, as the saying goes, is history.
Several people are facing the same issue Jim Henson did years ago. Faced with job loss and doubts, what will you do with your life? You can search for that elusive perfect job, and once again, but your future in someone else's hands, or you can take control of your life and create your own future.
I don't believe any small business consultant would ever recommend a client start a new business with only a credit card and no reserve of operating capital. I surely would not. However, history has shown that there is more to start up capital than money. Individuals with creative ideas, strong drive and a refusal to fail have proven that some can succeed on pure chutzpah.
For those leaving the corporate world, there is often some 401k money that can be rolled over into a new business. If set up correctly, you can fund your new business with retirement funds without paying taxes or penalties. Others may find funding difficult. I always recommend an individual's first business be a franchise. The proven system, training and support often make the difference between success and failure for the new entrepreneur. But franchise fees alone can keep those with limited startup capital from opening a business. I often help those with limited funds find franchises that offer in house financing so new businesses can be launched on the proverbial shoe string. There are also national trademarked brands that can be joined without franchise fees or royalties and still receive the training and support usually reserved for franchises.
Whether you are considering a low cost franchise or a trademarked brand, entrepreneurism is not for the faint of heart. But with a solid system and strong support, even the shoe string business can thrive. Just add indomitable spirit.
"Life is meant to be fun, and joyous, and fulfilling. May each of yours be that - having each of you as a child of mine has certainly been one of the good things in my life. Know that I've always loved each of you with an eternal, bottomless love. A love that has nothing to do with each other, for I feel my love for each of you is total and all-encompassing. Please watch out for each other and love and forgive everybody. It's a good life, enjoy it." Jim Henson
Ed Wills is a franchise and small business startup consultant with WFA Franchise Consultants. He specializes in helping people identify business opportunities that will help them reach their personal and financial goals. He writes, speaks and coaches on a variety of business and success topics. You can learn more about his services or request a free consultation at http://www.WFAFranchiseConsultants.com.
Article Source: http://EzineArticles.com/?expert=Ed_Wills
http://EzineArticles.com/?Starting-a-Business-When-All-You-Have-Left-is-a-Credit-Card&id=4772636
Monday, August 2, 2010
SKYShades - Protection and Power
SKYShades is America's best franchise for protection from harmful rays of the sun and solar power from those same rays. It is the perfect green franchise.
People love to spend time in the sun. The UV damage may not show up for years. To meet the demand for UV protection, Sky Shades was created with the aim of dominating the relatively new "shade industry" in the U.S.
SKYShades originated in Australia with famed golfer, Gary Player being a founding board member. Their US headquarters is in Orlando, FL.
SKYShades has also established a joint venture with Konarka Industries to provide solar panels that are embedded in the shade material. So now you can put an awning over your patio that helps provide electricity for your home.
Sky Shades is currently setting up a national network of franchisees that will undergo intensive training courses to equip them with the needed technical skills to be competent in all phases of the shade industry.
You can get in on the ground floor of this new opportunity that promises tremendous growth and earnings potential!
People love to spend time in the sun. The UV damage may not show up for years. To meet the demand for UV protection, Sky Shades was created with the aim of dominating the relatively new "shade industry" in the U.S.
SKYShades originated in Australia with famed golfer, Gary Player being a founding board member. Their US headquarters is in Orlando, FL.
SKYShades has also established a joint venture with Konarka Industries to provide solar panels that are embedded in the shade material. So now you can put an awning over your patio that helps provide electricity for your home.
Sky Shades is currently setting up a national network of franchisees that will undergo intensive training courses to equip them with the needed technical skills to be competent in all phases of the shade industry.
You can get in on the ground floor of this new opportunity that promises tremendous growth and earnings potential!
Chicago Business Opportunities
If you are looking for Chicago business opportunities, you may want to consider a hairstyling business such as a Great Clips or a Sport Clips. Such businesses can be operated as an absentee owner. The owner can own several outlets and oversee local managers. There is never any need for the owner to cut hair. The franchise model provides a turn key system which makes it easy to operate several units. Hairstyling is one of the most recession resistant business opportunities around.
Saturday, July 31, 2010
Supercuts is a great business for absentee ownership
Supercuts hairstyling salons are one of the top franchises in the personal health and beauty industry. They are great business models for either owner/operator or owner/manager. Several franchisees start with a single salon and expand into an empire.This profitable and fun business is worthy of careful investigation.
Supercuts was recently ranked as one of the top hair-care franchises by Entrepreneur magazine in their annual Franchise 500's. And consumers have made us North America's favorite place to get a stylish look at an affordable price.
Supercuts was recently ranked as one of the top hair-care franchises by Entrepreneur magazine in their annual Franchise 500's. And consumers have made us North America's favorite place to get a stylish look at an affordable price.
Wednesday, July 21, 2010
Marketing From the Consumer Perspective
Marketing From the Consumer Perspective
By [http://ezinearticles.com/?expert=Ed_Wills]Ed Wills
Does your business find itself marking down too much product at the end of each season? Do your scratch your head when you review the monthly income report asking yourself, "Why are more people buying our product or service?" This can often indicate a marketing failure. Making the best cup of coffee or importing the finest wine does not mean people will open your door. So you market. You buy ads. Still no one comes. It could be that your marketing reflects what is important to you, not to your potential consumer. Here is a simple two step process to help you reach consumers from their perspective.
Step One, identify your ideal potential consumer.
Is your ideal consumer male or female. Does your product or service appeal mostly to teenagers, young professionals or seniors? Is there an economic or education bracket that defines who visits your shop or uses your service? Answering these and other questions can help you identify who your ideal consumer is and develop a plan that targets them. Don't fall into the very common trap and assume people like you are your ideal consumer. Just because you love your product or service does not mean you are representative of your ideal consumer. An expert wine enthusiast may feel compelled to open a wine shop, but if he markets exclusively to other expert wine enthusiasts he is destined to go out of business because his market is too small.
Step Two, market to your consumer's buying process - Learn, Feel, Buy.
Consumers always go through a 3 step process for everything they buy.
First, they learn about the product or service. Most marketing campaigns do a good job of informing the public of their product or service. Information is easy. It takes almost no thought. We already know enough about or product or service to fill volumes. It makes us feel good to show off our immense knowledge. But too much will leave the consumer cold. While information is essential to the marketing effort, it should be simple and basic so as not to confuse the potential consumer. The confused customer never buys.
Second, the consumer must want to buy at an emotional level. The reason many marketing campaigns fail is that the exclusively inform but do not evoke an emotional response. Product features and benefits may be clearly outlined. Your hours of operations may be spelled out. Contact information may be correctly placed in the upper right hand corner. But if your ad does not evoke an emotional response, your campaign will fall flat.
Analyzing your consumer's emotional reason for buying takes some serious thought, but it is well worth the effort. Consider some great campaigns everyone remembers. "You deserve a break today." "Proud to be an American. Made in the USA." "Be the best you can be." "Just do it." These slogans evoke a strong emotional response and drive people to buy, even though they say little or nothing about the product or service. In the end, all decisions to buy are emotional decisions. Appeal to those emotions that cause your potential consumer to become your loyal customer.
The third step is to buy. You may think that your ad campaign has no control over the third step, but it does. Three factors affect where and when people buy - convenience, urgency and loyalty. Your ad campaign should touch on those purchase triggers. Phrases such as "limited time offer" or "while supplies last" appeal to urgency. Programs such as "open late every night till Christmas" or "free delivery" appeal to convenience. Identifiers such as "Your friendly family-owned neighborhood coffee shop" appeal to loyalty.
If you are your best customer, you are going to go broke. But if you can identify and reach a broad base of ideal potential consumers, success is in your grasp.
Ed Wills is a franchise and small business startup consultant with WFA Franchise Consultants. He specializes in helping people identify business opportunities that will help them reach their personal and financial goals. He writes, speaks and coaches on a variety of business and success topics. You can learn more about his services or request a free consultation at [http://www.WFAFranchiseConsultants.com]http://www.WFAFranchiseConsultants.com.
Article Source: [http://EzineArticles.com/?Marketing-From-the-Consumer-Perspective&id=4622500] Marketing From the Consumer Perspective
By [http://ezinearticles.com/?expert=Ed_Wills]Ed Wills
Does your business find itself marking down too much product at the end of each season? Do your scratch your head when you review the monthly income report asking yourself, "Why are more people buying our product or service?" This can often indicate a marketing failure. Making the best cup of coffee or importing the finest wine does not mean people will open your door. So you market. You buy ads. Still no one comes. It could be that your marketing reflects what is important to you, not to your potential consumer. Here is a simple two step process to help you reach consumers from their perspective.
Step One, identify your ideal potential consumer.
Is your ideal consumer male or female. Does your product or service appeal mostly to teenagers, young professionals or seniors? Is there an economic or education bracket that defines who visits your shop or uses your service? Answering these and other questions can help you identify who your ideal consumer is and develop a plan that targets them. Don't fall into the very common trap and assume people like you are your ideal consumer. Just because you love your product or service does not mean you are representative of your ideal consumer. An expert wine enthusiast may feel compelled to open a wine shop, but if he markets exclusively to other expert wine enthusiasts he is destined to go out of business because his market is too small.
Step Two, market to your consumer's buying process - Learn, Feel, Buy.
Consumers always go through a 3 step process for everything they buy.
First, they learn about the product or service. Most marketing campaigns do a good job of informing the public of their product or service. Information is easy. It takes almost no thought. We already know enough about or product or service to fill volumes. It makes us feel good to show off our immense knowledge. But too much will leave the consumer cold. While information is essential to the marketing effort, it should be simple and basic so as not to confuse the potential consumer. The confused customer never buys.
Second, the consumer must want to buy at an emotional level. The reason many marketing campaigns fail is that the exclusively inform but do not evoke an emotional response. Product features and benefits may be clearly outlined. Your hours of operations may be spelled out. Contact information may be correctly placed in the upper right hand corner. But if your ad does not evoke an emotional response, your campaign will fall flat.
Analyzing your consumer's emotional reason for buying takes some serious thought, but it is well worth the effort. Consider some great campaigns everyone remembers. "You deserve a break today." "Proud to be an American. Made in the USA." "Be the best you can be." "Just do it." These slogans evoke a strong emotional response and drive people to buy, even though they say little or nothing about the product or service. In the end, all decisions to buy are emotional decisions. Appeal to those emotions that cause your potential consumer to become your loyal customer.
The third step is to buy. You may think that your ad campaign has no control over the third step, but it does. Three factors affect where and when people buy - convenience, urgency and loyalty. Your ad campaign should touch on those purchase triggers. Phrases such as "limited time offer" or "while supplies last" appeal to urgency. Programs such as "open late every night till Christmas" or "free delivery" appeal to convenience. Identifiers such as "Your friendly family-owned neighborhood coffee shop" appeal to loyalty.
If you are your best customer, you are going to go broke. But if you can identify and reach a broad base of ideal potential consumers, success is in your grasp.
Ed Wills is a franchise and small business startup consultant with WFA Franchise Consultants. He specializes in helping people identify business opportunities that will help them reach their personal and financial goals. He writes, speaks and coaches on a variety of business and success topics. You can learn more about his services or request a free consultation at [http://www.WFAFranchiseConsultants.com]http://www.WFAFranchiseConsultants.com.
Article Source: [http://EzineArticles.com/?Marketing-From-the-Consumer-Perspective&id=4622500] Marketing From the Consumer Perspective
Thursday, July 8, 2010
Profit From Retirement
The old paradigm went something like this. "Work for the same company for 30 years. Retire at 65 with a pension. Play golf."
The new paradigm works something like this. "Work for 4-5 different companies as you climb the corporate ladder. Get laid off at 55 with 200,000 in your 401k. Now what?"
As companies have been cutting costs to weather the recession, the experienced employee has taken the hardest hit. Fifty something's are being replaced by twenty something's who will work for half their salary. Middle management jobs are going away, possibly never to return again. With no pension and insufficient funds to retire to the golf course, many capable and experienced managers are moving to entrepreneurism as their retirement plan.
For most, their 401k is not enough to retire on. It is, however, enough to start a new business. Some accounting firms specialize in rolling over 401k's into a business investment that can provide an income well into retirement. It is a special provision of the ERISA law that is too involved to go into here, but it is entirely legal and increasingly popular.
During the dot com bubble of the 90's, it seemed 25 was the age to start a business. A recent Kaufman Institute study showed that the age at which entrepreneurs start new businesses was steadily rising. Entrepreneurism, once thought the pursuit of the young and energetic, is fast becoming the pastime of the wise and experienced.
An experienced manager (age 55) can start as an owner/operator of a service business. After a few years establishing the business, he can easily transition to an owner/manager. He can keep busy, but at a slower pace and enjoy a semi-retirement status well into his seventies.
There are two key advantages inherent in the older entrepreneur.
1 - Experience. Older entrepreneurs have been around the block a few times. After years of management meetings, they know how to plan and budget. They know the importance of setting obtainable goals and measuring accomplishment. They can handle people and are unafraid to hire and, when necessary, fire. They don't fall for every slick sales pitch that comes through the door and can smell a rotten egg when it is standing in front of them.
2 - Network. Older entrepreneurs have connections. A recent Kaufman Institute survey of successful business owners showed that they ranked personal and business network connections as important as access to capital financing when starting a new business. If you are starting a service business and know people in a dozen area companies who could use your service, you are off to a good start.
Many excellent business models lend themselves to the older entrepreneur. Business consulting, coaching and training allow the entrepreneur to take advantage of their years of experience and share it with others. Direct marketing businesses take advantage of the entrepreneurs vast network of professionals acquired over time. Other business models such as mobile food service vending at events allows the entrepreneur to travel extensively.
Whatever your age, going into business for yourself takes careful thought and planning. It is helpful to take stock of your key asset, yourself. What are you interests, goals, and investment capital? Do you want to work from home or would you rather have an office? What business model would fit your personality? A thorough assessment, reviewed by a small business consultant can help you get on the right track.
Finally, ask yourself, "Do I have the courage to act? Individuals who have worked in a job for 20 or 30 years may find entrepreneurship a daunting possibility. Not everyone is cut out to be an entrepreneur, but utilizing the experience and network of the older entrepreneur can be fun and profitable.
The new paradigm works something like this. "Work for 4-5 different companies as you climb the corporate ladder. Get laid off at 55 with 200,000 in your 401k. Now what?"
As companies have been cutting costs to weather the recession, the experienced employee has taken the hardest hit. Fifty something's are being replaced by twenty something's who will work for half their salary. Middle management jobs are going away, possibly never to return again. With no pension and insufficient funds to retire to the golf course, many capable and experienced managers are moving to entrepreneurism as their retirement plan.
For most, their 401k is not enough to retire on. It is, however, enough to start a new business. Some accounting firms specialize in rolling over 401k's into a business investment that can provide an income well into retirement. It is a special provision of the ERISA law that is too involved to go into here, but it is entirely legal and increasingly popular.
During the dot com bubble of the 90's, it seemed 25 was the age to start a business. A recent Kaufman Institute study showed that the age at which entrepreneurs start new businesses was steadily rising. Entrepreneurism, once thought the pursuit of the young and energetic, is fast becoming the pastime of the wise and experienced.
An experienced manager (age 55) can start as an owner/operator of a service business. After a few years establishing the business, he can easily transition to an owner/manager. He can keep busy, but at a slower pace and enjoy a semi-retirement status well into his seventies.
There are two key advantages inherent in the older entrepreneur.
1 - Experience. Older entrepreneurs have been around the block a few times. After years of management meetings, they know how to plan and budget. They know the importance of setting obtainable goals and measuring accomplishment. They can handle people and are unafraid to hire and, when necessary, fire. They don't fall for every slick sales pitch that comes through the door and can smell a rotten egg when it is standing in front of them.
2 - Network. Older entrepreneurs have connections. A recent Kaufman Institute survey of successful business owners showed that they ranked personal and business network connections as important as access to capital financing when starting a new business. If you are starting a service business and know people in a dozen area companies who could use your service, you are off to a good start.
Many excellent business models lend themselves to the older entrepreneur. Business consulting, coaching and training allow the entrepreneur to take advantage of their years of experience and share it with others. Direct marketing businesses take advantage of the entrepreneurs vast network of professionals acquired over time. Other business models such as mobile food service vending at events allows the entrepreneur to travel extensively.
Whatever your age, going into business for yourself takes careful thought and planning. It is helpful to take stock of your key asset, yourself. What are you interests, goals, and investment capital? Do you want to work from home or would you rather have an office? What business model would fit your personality? A thorough assessment, reviewed by a small business consultant can help you get on the right track.
Finally, ask yourself, "Do I have the courage to act? Individuals who have worked in a job for 20 or 30 years may find entrepreneurship a daunting possibility. Not everyone is cut out to be an entrepreneur, but utilizing the experience and network of the older entrepreneur can be fun and profitable.
Thursday, May 13, 2010
Business Looks Good for Auto Repair Franchise
Are you tired of working for someone else and letting them get paid for it? Do you want to be your own boss? Have you always dreamed of running your own business? Many people today think these things every day; however they believe it is only a dream. Well this dream could become reality by starting an auto body franchise business.
If you are wondering what a franchise business is, it is simply a method that companies use to disperse its products or services through many different retail outlets which are owned by an independent third party. The third parties or franchisees’ are entitled to use trademarks, products, services and even techniques already established by the franchiser (developer/owner). Most of the time the franchiser offers ongoing support and resources for the franchisee to take advantage of. Many franchisers have already accrued many discounts with other business which the franchisee may also use. Depending on the franchise there may be many other benefits associated with running your own franchise!
So why is the automotive auto body franchise business a great way to get into business ownership; just they a look at the numbers. There were 220 million vehicles on U.S. roads in 2003, a figure that had been growing steadily at approximately 5% per year. We can use this figure to project that there will be more than 275 million vehicles on the road in 2008. More vehicles means a larger market, and an increased number of minor accidents as streets and parking lots become more crowded. Every 17 seconds a reported rear end collision occurs, and every 8.5 seconds an unreported rear end collision occurs. The most frequent accident on the road is the rear end collision, at almost 29.7%, and 75% of these accidents occur at less than 10 mph. Fully 12% of Americans had minor damage repaired on their vehicle in the last year alone! 36% of all minor auto body damage is to the front or rear bumper. More than a third!
Compared with other services, auto repair is a real bargain. Over the past decade, the cost of hospital services has risen more than 100%, and the cost of financial services has jumped 90%. Automotive maintenance and repair costs, in contrast, have risen just 44.5%, making auto repair the darling of the service industry.
Now you may be wondering why you should start a franchise instead of starting your own business simply from scratch. Well, the main reason is because 5% of businesses succeed in their first 5 years, meanwhile 75% of franchises succeed in the same time. So you have a much higher chance at succeeding in a franchise business. Another reason is that the franchise already has a working system in place. You will not have to try and fail until you find the solution while wasting your time and money. Another benefit is that there are others out there on your side who can offer advice and suggestions to help your business thrive. Even though there is a system in place it will take your determination and leadership skills to successfully run the business!
For more information on auto repair franchises, visit: www.WFAFranchiseConsultants.com
If you are wondering what a franchise business is, it is simply a method that companies use to disperse its products or services through many different retail outlets which are owned by an independent third party. The third parties or franchisees’ are entitled to use trademarks, products, services and even techniques already established by the franchiser (developer/owner). Most of the time the franchiser offers ongoing support and resources for the franchisee to take advantage of. Many franchisers have already accrued many discounts with other business which the franchisee may also use. Depending on the franchise there may be many other benefits associated with running your own franchise!
So why is the automotive auto body franchise business a great way to get into business ownership; just they a look at the numbers. There were 220 million vehicles on U.S. roads in 2003, a figure that had been growing steadily at approximately 5% per year. We can use this figure to project that there will be more than 275 million vehicles on the road in 2008. More vehicles means a larger market, and an increased number of minor accidents as streets and parking lots become more crowded. Every 17 seconds a reported rear end collision occurs, and every 8.5 seconds an unreported rear end collision occurs. The most frequent accident on the road is the rear end collision, at almost 29.7%, and 75% of these accidents occur at less than 10 mph. Fully 12% of Americans had minor damage repaired on their vehicle in the last year alone! 36% of all minor auto body damage is to the front or rear bumper. More than a third!
Compared with other services, auto repair is a real bargain. Over the past decade, the cost of hospital services has risen more than 100%, and the cost of financial services has jumped 90%. Automotive maintenance and repair costs, in contrast, have risen just 44.5%, making auto repair the darling of the service industry.
Now you may be wondering why you should start a franchise instead of starting your own business simply from scratch. Well, the main reason is because 5% of businesses succeed in their first 5 years, meanwhile 75% of franchises succeed in the same time. So you have a much higher chance at succeeding in a franchise business. Another reason is that the franchise already has a working system in place. You will not have to try and fail until you find the solution while wasting your time and money. Another benefit is that there are others out there on your side who can offer advice and suggestions to help your business thrive. Even though there is a system in place it will take your determination and leadership skills to successfully run the business!
For more information on auto repair franchises, visit: www.WFAFranchiseConsultants.com
Tuesday, March 16, 2010
Franchisee Earns over 100,000 in first 3 months
Can you earn 6 figures in less than three months of a new franchise. Not normally. But that is exactly what Blair Neville did in her new Firestorm franchise. If you have never heard of Firestorm, you don't need to feel lonely. Firestorm is a new franchise that capitalizes on the need for a good disaster plan. Some government contracts require companies to have an approved disaster plan in place before they will be awarded a contract. So, in case of an earthquake, hurricane or terrorist attack, the contracted company will continue to be able to fulfill the conditions of the contract.
Firestorm works with a number of former Secret Service agents who specialize in developing disaster plans that meet all federal standards. If you would like more information on Firestorm or other franchises that might fit your interests and lifestyle, visit WFAFranchiseConsultants.com.
Firestorm works with a number of former Secret Service agents who specialize in developing disaster plans that meet all federal standards. If you would like more information on Firestorm or other franchises that might fit your interests and lifestyle, visit WFAFranchiseConsultants.com.
Monday, March 15, 2010
Preparing a Strategic Growth Plan
Most economists predict that this year will begin a slow steady growth for the U.S. economy. The sectors that should lead the rebound are technology and essential services. Is your company ready to take advantage of an economic upturn? If not, it is time to prepare a strategic growth plan.
First, you will want to ask yourself several questions.
- What is my current financial position?
To take advantage of economic growth it is best to be in a strong cash position. Try to reduce debt, improve short term credit, and sock away some cash. You will need that cash to improve your growth position and increase market share when the time comes.
- Are my operational systems scalable?
During economic hard times, most companies tighten their belt to survive. They lay off employees, reduce services and cut back on marketing. This can create a "Where can we cut back?" mentality. Instead, start thinking in terms of "How can we create scalable systems?" Every aspect of your business should be fully understood and systematized. That way, when you begin to see growth, you don't have to create new systems, you simply upscale existing systems.
- How efficient is my marketing?
Most companies slash marketing budgets during hard times. I think that is because most marketing doesn't work. Now is the time to identify your ideal customer and find creative ways of reaching your ideal customer. Only put money in a marketing campaign that is paying for itself. If you cannot verify a positive cash flow from an advertising source, drop it. Research low cost guerrilla marketing techniques or even social media strategies.
- Is my management team lean, powerful and ready to grow?
Ultimately, management is going to determine whether or not you succeed. The last economic boom fostered some of the most poorly managed companies imaginable. Many of those are now out of business or on their way out. Focus on a small management team that is empowered, capable and ready to take action. That way, your company will be flexible and ready to quickly respond to changing economic conditions.
- Are there any locations left vacant by competitors who have gone out of business?
This recession has left many geographic holes where there is untapped market share waiting for you to move in. Develop an ideal customer demographic profile in terms of family size and income. A good commercial realtor can help you identify pockets where your ideal customer demographic can be found and any areas where your product or service is under-represented.
- Will I require additional space for expansion?
If your company is space restrictive, now is the time to begin thinking about new space. Great deals can be had now, while the economy is still sluggish. If you wait for the rebound to be in full swing, you may pay a premium for space.
It is a good idea to run these questions by your management team. Develop a written strategic growth plan. Have pre-set criteria that will trigger different aspects of the plan. That way you will be ready for steady sustainable growth. Believe it or not, rapid uncontrolled growth is as deadly to a company as a recession. Don't survive the recession, only to be killed by the rebound.
WFA Franchise Consultants
First, you will want to ask yourself several questions.
- What is my current financial position?
To take advantage of economic growth it is best to be in a strong cash position. Try to reduce debt, improve short term credit, and sock away some cash. You will need that cash to improve your growth position and increase market share when the time comes.
- Are my operational systems scalable?
During economic hard times, most companies tighten their belt to survive. They lay off employees, reduce services and cut back on marketing. This can create a "Where can we cut back?" mentality. Instead, start thinking in terms of "How can we create scalable systems?" Every aspect of your business should be fully understood and systematized. That way, when you begin to see growth, you don't have to create new systems, you simply upscale existing systems.
- How efficient is my marketing?
Most companies slash marketing budgets during hard times. I think that is because most marketing doesn't work. Now is the time to identify your ideal customer and find creative ways of reaching your ideal customer. Only put money in a marketing campaign that is paying for itself. If you cannot verify a positive cash flow from an advertising source, drop it. Research low cost guerrilla marketing techniques or even social media strategies.
- Is my management team lean, powerful and ready to grow?
Ultimately, management is going to determine whether or not you succeed. The last economic boom fostered some of the most poorly managed companies imaginable. Many of those are now out of business or on their way out. Focus on a small management team that is empowered, capable and ready to take action. That way, your company will be flexible and ready to quickly respond to changing economic conditions.
- Are there any locations left vacant by competitors who have gone out of business?
This recession has left many geographic holes where there is untapped market share waiting for you to move in. Develop an ideal customer demographic profile in terms of family size and income. A good commercial realtor can help you identify pockets where your ideal customer demographic can be found and any areas where your product or service is under-represented.
- Will I require additional space for expansion?
If your company is space restrictive, now is the time to begin thinking about new space. Great deals can be had now, while the economy is still sluggish. If you wait for the rebound to be in full swing, you may pay a premium for space.
It is a good idea to run these questions by your management team. Develop a written strategic growth plan. Have pre-set criteria that will trigger different aspects of the plan. That way you will be ready for steady sustainable growth. Believe it or not, rapid uncontrolled growth is as deadly to a company as a recession. Don't survive the recession, only to be killed by the rebound.
WFA Franchise Consultants
Sunday, January 24, 2010
Recession Sparks Parent Involvement in College Grad's Future
Green franchise system offers wealth building and stable career for son.
As the economy collapsed during the fall of 2008, so did Cameron Gonder’s job with thousands of other college seniors who graduated from the Class of 2008.
His father, Rufus Gonder, a certified public accountant, also watched in dismay as his son was laid off from a large, international company; just one year after graduating from college. As a result, he, like many other parents, was forced to take an active role in his college graduate’s career future, a move to protect his college investment and to keep his son’s independence.
With a degree in entrepreneurship, Cameron’s career goal was to one day own his own business, but first get some experience working for someone else.
With Cameron being laid off and the recession happening, Rufus felt that his son’s career path wasn’t going to happen anytime soon and the job market may be limited for several years. So, he decided to get involved.
“I had a client who was a Cartridge World franchisee and read a recent article in Entrepreneur Magazine about Cartridge World’s success. They both reinforced my inclinations that a franchise system would be a good investment for giving my son a solid foundation in entrepreneurship as well as income and job security,” said Rufus.
“And, when you start one of these franchises, I also realized that the goal for greater success is to be a multi-store owner.”
Just like college, Cameron’s father decided to invest in his son’s future by helping fund a franchise business with Cartridge World.
Cartridge World (www.cartridgeworldusa.com), an ink and toner refilling retailer and franchisor of recycled printer cartridge products, is ranked No. 39 among the 500 fastest-growing franchises listed in the Entrepreneur Magazine’s 2009 Franchise 500 list. With its parent company based in Emeryville, Ca., Cartridge World North America has more than 1,800 franchised locations worldwide in 61 countries, with over 650 independently owned and operated retail stores in the United States.
Benefits of Franchising. One of the main benefits for graduates to launch a franchise is that the lack of experience that would hinder their job chances would be of no consequence to a franchisor, says Bob Jackson, a master franchise developer for Cartridge World in Georgia and Tennessee.
As part of the franchise package, he noted that the majority of franchisors provide complete training and ongoing support to enable people to run the businesses effectively.
“Furthermore, many of the attributes franchisors do look for in franchise owners, such as good communication skills and self-motivation, graduates have learned while attending their university,” said Jackson.
Other advice Jackson offers parents is that they should analyze the franchise system’s annuity revenue potential and on-going cash flow as factors in determining if a franchise system is a good fit for their graduate as well as the parents who would be the investors.
“For example, parents are migrating to Cartridge World’s sustainable and repeatable product offering which maintains cash flow even in a recession,” says Jackson. “And, the graduate keeps building equity for 10 years in a business that can have substantial ‘resale value’ thus paying back the parents.”
Rufus targeted from the onset that it would take his son one year to build the business to a break even point, and he is right on track after being in operation for seven months, opening the business on May 1, 2009.
Franchise Investment Ensures a Career. However, Rufus Gonder says that he didn’t become involved in Cartridge World for the investment, but to ensure a career for his son. “I don’t expect a return out of the business; my involvement is to help my son take positive steps toward building his own company.”
Across the country and in nearly all fields, employers hired 22 percent fewer graduates from the class of 2009 compared with the year prior, according to a survey by the National Association of Colleges and Employers. The NACE’s recent survey reveals that employers expect to hire 7 percent fewer graduates from the college class of 2010 than hired from the class of 2009. The drop is even worse in the Southeast with a –9.9 percent decrease from last year.
Rufus warns parents to justify their reasons for helping their child go into business for themselves, because there are some potential risks.
“As a parent investing in a business for your son, you must work out the pros and cons in your mind, then decide whether to take that step,” says Rufus. “I found franchising to be a safe investment, but if you can’t get comfortable with that, then don’t do it.”
“I am confident that my son can make this business work; he loves the business, it fits him to a tee,” says Rufus. “Cartridge World has provided us with comprehensive training and ongoing support to be successful. Their 20 years of experience in research and development is also reassuring.”
From Cameron’s perspective, franchising has given him an opportunity to do what he has always wanted to do, “be in business for himself.”
“If I kept working for a big company, I was going to leave eventually anyway,” he says. “The current times, along with my father’s involvement, just made it happen quicker. I have no regrets.”
Starting a Business during a Recession Cartridge World has been a good business decision for the Gonders during these bad economic times, they say.
“It was scary to go into business during a recession,” says Cameron, “but my father and I felt good about Cartridge World’s pro-green environment stance and its affordable and reusable technology business model.
Business owners are looking to cut costs in a recession, and our store offers cutting their printer cartridge costs up to 40 percent without sacrificing performance or quality, a strong selling point during a recession that saves a business owner money.”
“Additionally, our business is offering consumers and businesses an eco-friendly option to buying new with a way to protect our environment and to create a pro-active solution to reducing waste,” adds 23-year-old Cameron.
The Franchise Advantage. When someone purchases a franchise or goes into a franchised outlet business, they are in business ‘for’ themselves, but not ‘by’ themselves, notes Jackson, a two-time national award recipient of Cartridge World’s Outstanding U.S. Master Developer of the Year for being the outstanding developer in franchise sales and innovation within the $80 billion printer cartridge industry.
“Franchises offer a much more secure method of entrepreneurship. They are using a proven business model, and therefore, franchisees have a better chance to succeed than if they were to start something from scratch,” he said.
Funding a Franchise. Funding is another factor to consider when looking to purchase a franchise. Across the board, getting loans and funding for anything from a home to a car to a business is harder than it has been for decades. Financing a franchise in a down economy is no exception.
“However, that certainly doesn’t mean you should throw in the towel,” says Jackson. “If you’ve found a franchise opportunity that’s the right fit for you, there are still ways to get the funding you need, like focusing on those franchises that are approved by the SBA (Small Business Administration).”
“For example, Cartridge World has been on the SBA National Registry since 2004 which enables SBA loan applications to be processed rapidly. Additionally, Cartridge World is in the top 20 of the least defaulted SBA loans which shows our franchisors are able to repay their obligations,” notes Jackson.
Jackson also recommends checking out community banks that are now seeking to make home equity loans. “Parents can tap their home equity as another means to help their graduates secure a loan. Otherwise, they have no chance to obtain one.”
Being prepared before you start applying for loans is a sure way to improve your chances to get funding.
“Have a business plan and a finance plan in place, along with your pro forma projections,” says Jackson. “A good franchise system will help you answer these questions. Knowing this information will save you time and increase the likelihood that you will get funding for your franchise investment. Equally important, when lenders see an experienced franchisor behind a novice franchisee, they become more willing to grant the loan.”
But the best advice the franchise guru can give parents is that a locally owned franchise is a great way to keep the graduate close to home, says Jackson. “They won’t be threatened with being transferred out of state, and they are their own boss.”
Whatever the size or type of business being run, being self-employed involves a lot of hard work and long hours. For many new graduates facing a tough job market, becoming a franchise owner could provide the career path they have been looking for.
For more information on franchising, or on the Cartridge World franchise system, contact edwills@wfafc.com. Or call 816-767-1667.
GREEN FACTS FOR CARTRIDGE WORLD
- According to Lyra Research, more than 1 billion laser and inkjet cartridges are shipped worldwide each year, with sales of $50 billion. Unfortunately, over 70 percent of all printer users throw away their empty cartridges.
- It takes a gallon of oil to make a new laser printer cartridge.
- A laser cartridge thrown into a landfill takes up to 450 years to decompose with some components made of industrial grade plastic taking up to 1,000 years to decompose.
Ed Wills
WFA Franchise Consultants
As the economy collapsed during the fall of 2008, so did Cameron Gonder’s job with thousands of other college seniors who graduated from the Class of 2008.
His father, Rufus Gonder, a certified public accountant, also watched in dismay as his son was laid off from a large, international company; just one year after graduating from college. As a result, he, like many other parents, was forced to take an active role in his college graduate’s career future, a move to protect his college investment and to keep his son’s independence.
With a degree in entrepreneurship, Cameron’s career goal was to one day own his own business, but first get some experience working for someone else.
With Cameron being laid off and the recession happening, Rufus felt that his son’s career path wasn’t going to happen anytime soon and the job market may be limited for several years. So, he decided to get involved.
“I had a client who was a Cartridge World franchisee and read a recent article in Entrepreneur Magazine about Cartridge World’s success. They both reinforced my inclinations that a franchise system would be a good investment for giving my son a solid foundation in entrepreneurship as well as income and job security,” said Rufus.
“And, when you start one of these franchises, I also realized that the goal for greater success is to be a multi-store owner.”
Just like college, Cameron’s father decided to invest in his son’s future by helping fund a franchise business with Cartridge World.
Cartridge World (www.cartridgeworldusa.com), an ink and toner refilling retailer and franchisor of recycled printer cartridge products, is ranked No. 39 among the 500 fastest-growing franchises listed in the Entrepreneur Magazine’s 2009 Franchise 500 list. With its parent company based in Emeryville, Ca., Cartridge World North America has more than 1,800 franchised locations worldwide in 61 countries, with over 650 independently owned and operated retail stores in the United States.
Benefits of Franchising. One of the main benefits for graduates to launch a franchise is that the lack of experience that would hinder their job chances would be of no consequence to a franchisor, says Bob Jackson, a master franchise developer for Cartridge World in Georgia and Tennessee.
As part of the franchise package, he noted that the majority of franchisors provide complete training and ongoing support to enable people to run the businesses effectively.
“Furthermore, many of the attributes franchisors do look for in franchise owners, such as good communication skills and self-motivation, graduates have learned while attending their university,” said Jackson.
Other advice Jackson offers parents is that they should analyze the franchise system’s annuity revenue potential and on-going cash flow as factors in determining if a franchise system is a good fit for their graduate as well as the parents who would be the investors.
“For example, parents are migrating to Cartridge World’s sustainable and repeatable product offering which maintains cash flow even in a recession,” says Jackson. “And, the graduate keeps building equity for 10 years in a business that can have substantial ‘resale value’ thus paying back the parents.”
Rufus targeted from the onset that it would take his son one year to build the business to a break even point, and he is right on track after being in operation for seven months, opening the business on May 1, 2009.
Franchise Investment Ensures a Career. However, Rufus Gonder says that he didn’t become involved in Cartridge World for the investment, but to ensure a career for his son. “I don’t expect a return out of the business; my involvement is to help my son take positive steps toward building his own company.”
Across the country and in nearly all fields, employers hired 22 percent fewer graduates from the class of 2009 compared with the year prior, according to a survey by the National Association of Colleges and Employers. The NACE’s recent survey reveals that employers expect to hire 7 percent fewer graduates from the college class of 2010 than hired from the class of 2009. The drop is even worse in the Southeast with a –9.9 percent decrease from last year.
Rufus warns parents to justify their reasons for helping their child go into business for themselves, because there are some potential risks.
“As a parent investing in a business for your son, you must work out the pros and cons in your mind, then decide whether to take that step,” says Rufus. “I found franchising to be a safe investment, but if you can’t get comfortable with that, then don’t do it.”
“I am confident that my son can make this business work; he loves the business, it fits him to a tee,” says Rufus. “Cartridge World has provided us with comprehensive training and ongoing support to be successful. Their 20 years of experience in research and development is also reassuring.”
From Cameron’s perspective, franchising has given him an opportunity to do what he has always wanted to do, “be in business for himself.”
“If I kept working for a big company, I was going to leave eventually anyway,” he says. “The current times, along with my father’s involvement, just made it happen quicker. I have no regrets.”
Starting a Business during a Recession Cartridge World has been a good business decision for the Gonders during these bad economic times, they say.
“It was scary to go into business during a recession,” says Cameron, “but my father and I felt good about Cartridge World’s pro-green environment stance and its affordable and reusable technology business model.
Business owners are looking to cut costs in a recession, and our store offers cutting their printer cartridge costs up to 40 percent without sacrificing performance or quality, a strong selling point during a recession that saves a business owner money.”
“Additionally, our business is offering consumers and businesses an eco-friendly option to buying new with a way to protect our environment and to create a pro-active solution to reducing waste,” adds 23-year-old Cameron.
The Franchise Advantage. When someone purchases a franchise or goes into a franchised outlet business, they are in business ‘for’ themselves, but not ‘by’ themselves, notes Jackson, a two-time national award recipient of Cartridge World’s Outstanding U.S. Master Developer of the Year for being the outstanding developer in franchise sales and innovation within the $80 billion printer cartridge industry.
“Franchises offer a much more secure method of entrepreneurship. They are using a proven business model, and therefore, franchisees have a better chance to succeed than if they were to start something from scratch,” he said.
Funding a Franchise. Funding is another factor to consider when looking to purchase a franchise. Across the board, getting loans and funding for anything from a home to a car to a business is harder than it has been for decades. Financing a franchise in a down economy is no exception.
“However, that certainly doesn’t mean you should throw in the towel,” says Jackson. “If you’ve found a franchise opportunity that’s the right fit for you, there are still ways to get the funding you need, like focusing on those franchises that are approved by the SBA (Small Business Administration).”
“For example, Cartridge World has been on the SBA National Registry since 2004 which enables SBA loan applications to be processed rapidly. Additionally, Cartridge World is in the top 20 of the least defaulted SBA loans which shows our franchisors are able to repay their obligations,” notes Jackson.
Jackson also recommends checking out community banks that are now seeking to make home equity loans. “Parents can tap their home equity as another means to help their graduates secure a loan. Otherwise, they have no chance to obtain one.”
Being prepared before you start applying for loans is a sure way to improve your chances to get funding.
“Have a business plan and a finance plan in place, along with your pro forma projections,” says Jackson. “A good franchise system will help you answer these questions. Knowing this information will save you time and increase the likelihood that you will get funding for your franchise investment. Equally important, when lenders see an experienced franchisor behind a novice franchisee, they become more willing to grant the loan.”
But the best advice the franchise guru can give parents is that a locally owned franchise is a great way to keep the graduate close to home, says Jackson. “They won’t be threatened with being transferred out of state, and they are their own boss.”
Whatever the size or type of business being run, being self-employed involves a lot of hard work and long hours. For many new graduates facing a tough job market, becoming a franchise owner could provide the career path they have been looking for.
For more information on franchising, or on the Cartridge World franchise system, contact edwills@wfafc.com. Or call 816-767-1667.
GREEN FACTS FOR CARTRIDGE WORLD
- According to Lyra Research, more than 1 billion laser and inkjet cartridges are shipped worldwide each year, with sales of $50 billion. Unfortunately, over 70 percent of all printer users throw away their empty cartridges.
- It takes a gallon of oil to make a new laser printer cartridge.
- A laser cartridge thrown into a landfill takes up to 450 years to decompose with some components made of industrial grade plastic taking up to 1,000 years to decompose.
Ed Wills
WFA Franchise Consultants
Monday, January 4, 2010
Miracle Method climbed 71 places over their 2009 ranking in the Entrepreneur Magazine Franchise 500 to #256. The Colorado based franchise is the nation’s largest bathtub, tile and countertop surface refinishing franchise.
Chuck Pistor, Miracle Method's President attributes Entrepreneur’s recognition to the company’s comprehensive training, marketing and technical support programs. “It’s really simple…if the franchisees are successful, then the franchise network is successful,” said Pistor.
Unlike many businesses, Miracle Method saw the downturn in the economy as an opportunity to grow market share and increase its category dominance. Miracle Method increased national advertising, developed new refinishing processes and increased commercial revenue streams promoting services to colleges, universities and hotels “Our goal is to continually update our franchise model in order to create the best success opportunity for our franchisees. As the economy changed, we changed with it,” added Pistor.
Miracle Method is also ranked Number 71 in Entrepreneur’s list of Top 100 Home Based Franchises. “While a number of our franchisees start out as a home based business, they soon move up to having a showroom and shop,” says Pistor. “Our goal is to help our franchisees turn what is one of the best home based businesses into a much larger, more profitable business opportunity. We really think we can break into the Top 100 of the Entrepreneur 500!”
The outlook for the surface restoration industry is very bright and sales of Miracle Method franchises have increased dramatically in 2009. “We’ve opened ten new locations in 2009 and anticipate doubling that number in 2010,” according to Don Dominick, Director of Franchise Sales. “Our franchisee satisfaction is at an all time high,” adds Dominick.
Dominick believes that Miracle Method is positioned to continue to dominate the field. “We will continue to help our existing franchisees capture market share and expand our capacity by selectively selling new franchises. A Miracle Method franchise offers a great value to a new owner by offering the potential to earn an annual net income ranging between $100,000 and $200,000”, said Dominick.
Miracle Method is set apart in the industry by the use of their proprietary bonding agent, MM-4. Non-acid, MM-4 molecularly bonds the old and new surfaces together, ensuring quality, durability and eliminating the need for dangerous, corrosive etching acids often used by other refinishers. Considered a trade secret, MM-4, provides a competitive advantage and is available only to Miracle Method franchises.
Since 1979, Miracle Method has been the nation’s leader in Surface Refinishing.
Today the company has 120 offices across the country providing bathtub, tile and countertop refinishing for homeowners, hotels and property managers.
To learn more about Miracle Method or other franchise opportunities, visit:
www.WFAFranchiseConsultants.com
Chuck Pistor, Miracle Method's President attributes Entrepreneur’s recognition to the company’s comprehensive training, marketing and technical support programs. “It’s really simple…if the franchisees are successful, then the franchise network is successful,” said Pistor.
Unlike many businesses, Miracle Method saw the downturn in the economy as an opportunity to grow market share and increase its category dominance. Miracle Method increased national advertising, developed new refinishing processes and increased commercial revenue streams promoting services to colleges, universities and hotels “Our goal is to continually update our franchise model in order to create the best success opportunity for our franchisees. As the economy changed, we changed with it,” added Pistor.
Miracle Method is also ranked Number 71 in Entrepreneur’s list of Top 100 Home Based Franchises. “While a number of our franchisees start out as a home based business, they soon move up to having a showroom and shop,” says Pistor. “Our goal is to help our franchisees turn what is one of the best home based businesses into a much larger, more profitable business opportunity. We really think we can break into the Top 100 of the Entrepreneur 500!”
The outlook for the surface restoration industry is very bright and sales of Miracle Method franchises have increased dramatically in 2009. “We’ve opened ten new locations in 2009 and anticipate doubling that number in 2010,” according to Don Dominick, Director of Franchise Sales. “Our franchisee satisfaction is at an all time high,” adds Dominick.
Dominick believes that Miracle Method is positioned to continue to dominate the field. “We will continue to help our existing franchisees capture market share and expand our capacity by selectively selling new franchises. A Miracle Method franchise offers a great value to a new owner by offering the potential to earn an annual net income ranging between $100,000 and $200,000”, said Dominick.
Miracle Method is set apart in the industry by the use of their proprietary bonding agent, MM-4. Non-acid, MM-4 molecularly bonds the old and new surfaces together, ensuring quality, durability and eliminating the need for dangerous, corrosive etching acids often used by other refinishers. Considered a trade secret, MM-4, provides a competitive advantage and is available only to Miracle Method franchises.
Since 1979, Miracle Method has been the nation’s leader in Surface Refinishing.
Today the company has 120 offices across the country providing bathtub, tile and countertop refinishing for homeowners, hotels and property managers.
To learn more about Miracle Method or other franchise opportunities, visit:
www.WFAFranchiseConsultants.com
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