What Makes a Good Franchisee?

So “what makes a good franchisee” you ask?

Watch this quick video featuring our VP of Franchising, Jim Wollman, and find out some of the key characteristics that NTY Franchise Company looks for when partnering with franchisees to grow one or more of our successful resale businesses.

Video: What does it take to own an NTY Franchise?

Do you have the skills and traits mentioned in this video? If so, you would make a fabulous franchisee with any of our five resale brands: Children’s Orchard, Clothes Mentor, Device Pitstop, New Uses and NTY Clothing Exchange!

Still don’t know if you have what it takes, or curious which of our resale brands is the best fit for you? Take our successful franchise owner quiz!

What Makes a Good Franchisee Video Transcription

Do you prefer a text version of the video or want to follow along while you watch? Then check out the full transcription below! 

There is no “best age” to start a business

Jim: We attract people of all ages- from people in their twenties to their sixties and everything in between. People come from all kinds of backgrounds and work experiences too.

Most importantly, we are looking for people with energy and personality. That’s what makes a good franchisee. We can’t teach you how to be a cool person to work for so you need to come to the table with those things that will really help you be successful in these businesses.

Some characteristics of successful franchise owners

Also important are transferable skills. If you had previous successes in your career, then you have transferable skills and that’s good.

What I’m talking about here are previous management experience, staff oversight, budgeting, and communication skills. Those are important because we are going to teach you how to maximize your business and you are going to use those skills to execute and make yourself a successful franchise owner.

NTY Franchise Company’s Proprietary Point of Sale System (POS)

We also need people that appreciate what computers and technology can do because we use it heavily to measure and manage and improve our businesses to the maximum potential. We have proprietary point of sale systems that will help you with inventory turn rates, cash flow management and with employee efficiency.

Our Franchise Loyalty Programs

We have trigger based customer loyalty programs, just like the big business out there. We are using technology to attract, retain, and bring in more customers, and more customers more often. So an embrace of the use of technology is very important. You don’t have to be an IT professional, but you do have to be comfortable with computers.

We are also looking for people who are smart enough to realize that you don’t know what you don’t know and you can really benefit from a shortening of the learning curve. This not only helps you to avoid costly financial mistakes, that one is easy to understand, but what a lot of people don’t think about is that mistakes cost time.

We teach you how to run a successful franchise

We know People want to get going and get moving, become more successful more quickly, and we can help you with that. We are not looking for people who are so entrepreneurial that they want to just change everything coming right out of the gate.

We have a very proven pathway. We have all of the knowledge, training and support that makes up our proven and well-worn operating system. So we know that if you use our tools, use our systems, and execute that you will greatly improve your chances of being successful.

Successful franchise owners “wear all the hats“

A lot of people come from corporate America to begin their business for the first time. Of course we can help you there, but your background says that you wear a big hat and are a specialist and good at what you do.

This may be more narrowly defined in Corporate America. The thing about small business America is that you have to wear all the hats. The good news is that they are really small hats. And we are going to help you in areas that you aren’t as strong in and in other disciplines that you don’t feel as comfortable with. So having this ability to realize that it’s about you and wearing all the hats is an important thing for you to be able to realize and appreciate when you get into a franchise business.

Couples make great franchisees

Now this brings up the question-what are the most common profiles that make up our franchise business? One of the most tried and true profiles for us are couples. Where one covers the household expenses, the overhead, and so on. While the other gets the business up and running and started. Often times with love, opposites attract and they usually have different skill sets, but when you mesh those together they make a very good one hundred percent.

Hands off franchise investors

Another type of profile that has worked well for us are partnerships where you have one financial backer who is a little more hands-off, and another operational partner who is going to be the face of the business and run the business on a day to day basis. An example of this could be an adult with an adult child. Now in our soft line brands, apparel, we do have men who do these businesses and usually what they will do is hire a female manager who has prior retail experience. Conversely in our tech businesses, we have very successful women running our device pit stop. We really do get people of all walks of life and who are given a proven business operating system to follow.

Going solo: solo franchise ownership

Now, the one exception to what I just said is for those who are coming into the business solo. The one other thing that you have to think about is that if this is going to be your new business you may decide to run the business yourself and maybe take that managers salary for yourself in the early stages until you build the business out. But just to be safe, we would encourage you to at least have one year of household expenses tucked away in reserve as working capital above and beyond the initial investment of opening up the business which is covered on our website as well.

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So there you have it, now you know what makes a good franchisee. Think you have what it takes? Then contact us now to schedule your free consultation!

Children’s Orchard Rowley is a Family Business for Families

Check out this great article from newburyport.macaronikid.com featuring Children’s Orchard Rowley.

Children’s Orchard Rowley: Family-Owned by Three Generations of Women

By Emily Cowan

Thirty years ago, an Ipswich grandmother named Maureen started a local business she hoped would help her children and grandchildren – and it’s still going strong. We caught up with her daughter Steph Johnson and granddaughter Jamie, now owners and operators of Children’s Orchard Rowley, to find out more about the family business and how things have changed since Maureen opened that first store.

Newburyport Macaroni Kid: How did your family get into the kids’ consignment business?

Steph: My mother got into the business almost 30 years ago after meeting the owners of the Newburyport store, before it was a franchise. She had just had her third grandchild (Jamie), and loved the idea of recycling for future generations. She opened her first store in Ipswich, and we were there for ten years before moving to Rowley.

MK: What’s it like working with your mother/daughter?

Steph: I loved working with my mom. We worked well together for 20 years before she retired. Now I have my daughter working for me I think we work well together. It is great having flexibility.

Jamie: I started working here as a teen after school and weekends. I took a few years off after graduating college, but I hated my job! So I came back to help my mother with the online outreach and advertising.

Working with/for my mother is great. I’m always learning new things from her, and I feel like she is learning from me as well. There is also the convenience factor of working for her. If I’m sick or need the day off, she works for me and vice versa.

Also, we each enjoy different seasons. She loves the winter and I love the summer, so if she wants to ski on my day off I work, and if I want to go to the beach on her day off she works for me. Working together has helped my brothers out too because if they need someone to babysit one of us is always available.

MK: Thirty years is a long time! Has buying and selling kids’ clothing and equipment given you any insight into parenting trends over time?

Jamie: I’ve been working part-time in the store for about 15 years, and I have noticed a lot of changes. The internet has made parents much more product-savvy. When grandparents come in they don’t go for name brands, they just know the item they want. This generation of parents knows what brands they want specifically, so we carry more of those.

Other changes are driven by changing guidelines and pediatrician recommendations. For example, we no longer sell bedding because it’s not recommended in the cribs. Instead, we sell more sleep sacks to keep the kids warm. Product recalls also play a huge role in what we are allowed to buy and sell.

MK: What do you most enjoy about working at the store?

Steph: I love the flexibility of working for myself and working with family. At the end of the day I have real peace of mind.

Jamie: I love helping new parents or grandparents. When they come in all stressed out about what to buy, I enjoy pointing out what items sell best. When they are trying to decide between strollers or baby equipment they think their child will like, I give them my honest opinion. Sometimes I sell them the cheaper of two items because I know that product will work for them – it isn’t always about the money.

When someone comes in and says “it’s my first time here, my friend just told me about you,” I feel like we are being successful. We are a small, locally owned business and we rely on high-quality inventory, excellent customer service, and word of mouth to stay afloat.

Click here to see more from newburyport.macaronikid.com.

Children’s Orchard: A Resale Franchise for the Next Generation

Kids are always growing—and so is our Children’s Orchard franchise! Watch this brief video featuring COO Chad Olson to find out more about the high demand for gently used children’s clothing, toys and equipment, and how the Children’s Orchard franchise is suited for the next generation of both consumers and franchisees.

Franchising is Smart, and Entrepreneurs are Catching On

Check out this article from altoonamirror.com about why franchising is a smart business move. For one, it allows you to build your own business with the support of a proven system. Learn more:

Honey Baked Ham franchisee, employee and customer
Mirror photo by J.D. Cavrich.

Franchises gaining in popularity

By Walt Frank

After his family business was sold, Mike Folcarelli said he was “looking for something to do.”

So in 2014, Folcarelli opened a HoneyBaked Ham Co. and Cafe franchise in the Pleasant Valley Shopping Center.

“I thought at my age (49 at the time), this was the best way to go, instead of starting something from scratch. They have proven marketing and brand recognition,” Folcarelli said. “I looked at others (franchises), not just in the food business. I just decided on this — it just fit my lifestyle.”

Mike Burgmeier worked at the Greenwood Meadows while in high school and college.

“I have an entrepreneurial flair. I knew I always wanted my own franchise,” Burgmeier said.

Burgmeier is the franchise owner of the Chick-fil-A restaurant set to open in March at 106 Sierra Drive, the site of the former Montezuma Mexican Restaurant.

“I started to pursue this in 2013. I looked at several other types of franchises, but I wanted to be in the food retail industry. Chick-fil-A is dedicated to customer service. Their core values and my core values lined up,” Burgmeier said. “I am pleased I have the ability to bring in a franchise like Chick-fil-A, which does tremendous things for the community. It will be a nice place for people to sit down and enjoy a good product. I am excited about that.”

Between 12,000 and 15,000 new franchise businesses open every year in the United States, or between 30 and 40 per day.

There are an estimated 733,000 franchise business establishments in the U.S., meaning about 3 percent of all businesses are franchises, and franchise businesses employ about 7.6 million people directly, said John R. Reynolds, president of the Franchise Education and Research Foundation.

Reynolds said the franchising industry has averaged about 2 percent to 3 percent growth per year in the past few years.

Franchises are very popular these days.

“Franchises are popular because they provide business owners with a systematic approach to owning and operating a business that provides branding, marketing, training and support. It combines the resources of the franchisor and franchisees in the network to get a multiplier effect,” Reynolds said. “Many people buy into a franchise because they want to go into business for themselves, but not by themselves. Being part of a franchise system gives them advantages of not going it alone.”

Judy and Anthony Branda have owned the Greenwood Meadows franchise for about nine years.

“My husband had talked to the people who owned it and told them if they ever wanted to sell it, to let us know. We thought it would be a fun business to get into; when people come in for ice cream, they are happy,” Judy Branda said.

Melvin Milne has owned the Budget Blinds franchise in Altoona for nine years, and the one in State College for five years.

“I was in the construction business. I normally worked for someone else and this was a way to get started; a franchise helps you jump-start a business,” Milne said. “I’ve been in this nine years. The economy was not the greatest when I started. It was difficult at first, but the last couple of years it has been nothing but referrals and repeat business.”

David Rosen is the owner of the Griswold Home Care franchise in Hollidaysburg. He also owns two other Griswold franchises.

“I was a do-it-yourself type of person and I wanted to be more of a franchise person. I liked the idea of partnership. The company was moving in the right direction, and I felt it was a solid company,” Rosen said. “Partnerships bring some expertise and help you achieve success. For me, I really liked the mix and felt it was a good fit.”

Owning a franchise has advantages.

According to the International Franchise Association, owning a franchise allows you to go into business for yourself, but not by yourself. A franchise provides franchisees with a certain level of independence where they can operate their business. A franchise provides an established product or service that might already enjoy widespread brand-name recognition. This gives the franchisee the benefits of a pre-sold customer base that would ordinarily takes years to establish. A franchise can increase the chance of business success because it is associated with proven products and methods. Franchises also offer consumers the attraction of a certain level of quality and consistency because it is mandated by the franchise agreement.

“You have a proven product and the system is in place. You don’t have to re-invent the wheel, just follow the system and try to improve on it in your local market. It comes down to hiring the right people and training them and serving the customers,” Folcarelli said.

But there can be some disadvantages to owning  a franchise.

The franchisee is not completely independent. Franchisees are required to operate their businesses according to the procedures and restrictions set forth by the franchisor in the franchisee agreement. These restrictions usually include the products or services which can be offered, pricing and geographic territory, according to the IFA.

“You have to recognize that you don’t have the luxury to mess with branding and changes,” Rosen said.

Owning a franchise can take a lot of work.

“You do put in a lot of long hours. In this small business, you are the HR guy, the purchasing guy, the sales guy. There is a lot more responsibility than at a larger company. You wear all of the hats,” Folcarelli said.

It is important to do your research before purchasing a franchise.

“Do your homework on any franchise. There are good ones, there are bad ones, there are great ones and horror stories out there,” Milne said.

The first step is to develop a business plan.

“There are many franchise businesses to choose from. What are the types of businesses that appeal to you that also meet your personal and financial goals in your business plan? Lastly, get advice from a qualified franchise attorney before accepting any franchise offers or signing any franchise agreements,” Reynolds said.

“Check out the company as a whole, its financial situation, how long they have been in business, what kind of talent do they have. Talk to other franchise owners to see if they are willing to talk to you about the franchise. Talk to new ones and others who have been in it for three to five years to get their perspective on the franchise,” Rosen said. “I looked at four or five organizations; Griswold emerged for me. I liked its vision and mission of serving people.”

Reynolds said it is not difficult to get a franchise.

“There are franchises available for less than $100,000, and others for more than $1 million. It’s important to consider a franchise business that meets your personal and financial goals and plans,” Reynolds said.

Click here to see more from altoonamirror.com.

Gifting Season: LinkedIn Article Features NTY Franchisees

Check out excerpts from a linkedin.com article below, which features several franchisees from various NTY Franchise Company brands.

Why these franchisees see franchising as a gift

By Jim Judy

The holidays are here, so what better way for me to celebrate than to hear why actual franchise owners see franchising as a wonderful gift. As a franchise consultant, I’m always happy to hear how they are thriving in their franchise business, but even I was surprised by the response I received for this story.

I’ve heard from dozens of franchisees from numerous franchise systems excited to share their thoughts on what they love about franchising.

Enjoy what they have to say, and have a wonderful holiday!

[…]

“This year we feel even more thankful than previous years. By opening our Clothes Mentor franchise we fulfilled our dream of having a family business and have the opportunity to spend more time together. Being a franchise owner has given us the opportunity to save for our retirement, and provide long term job security for our son. Our #Dream2016 has come through.” – Pieter de Smidt, Clothes Mentor of Sugarland, TX

“I’m thankful for franchising!  Combining my entrepreneurship passion with best practices, systems and tools from a proven franchiser is a winning combination.  2016 was a great year!” – Bradley R. Swenson, Device Pitstop of Maple Grove

“We are thankful for a franchise with a proven track record to give us the confidence to open multiple, very successful businesses. By following the “resale-retail recipe” provided, we are not forced to build a business model from the ground up, but to utilize the wealth of knowledge our franchisor has handed to us to create our own businesses in our market and have the freedom to be creative and find ways to improve even more on operating our own individual stores.” – Shawn & Alyssa Cox, Clothes Mentor Charlotte – Midtown, NC, Charlotte – Arboretum, NC & Rock Hill, SC

“Being part of a franchise provides a broader opportunity for success, and gives an established brand to build on.  I’m thankful for the partnership, resources, technology, and ongoing support from the franchise I am partnered with.” – Shasta Webber, Children’s Orchard Huntersville, NC

“Franchising give me the flexibility to make more family time.  There are no clocks to punch and no supervisor to decline vacation requests.” – Brad Peterson, Device Pitstop Burnsville, MN

“After just spending 90 minutes with my franchise operations manager, I feel like I have a focused business strategy to wrap up 2016…and he planted seeds for me to start developing my 2017 business goals.  I am thankful for having a built-in, business-savvy coach who wants us to succeed as much as we do.” – Chris Barnett, Clothes Mentor Springfield, PA

Click here to see the full article on linkedin.com.

NTY Franchise Company’s 200th Store Featured on Franchising.com

Check out the article below from franchising.com highlighting NTY Franchise Company’s 200th store: Device Pitstop Newport News!

device pitstop store front
Photo from NTY Franchise Company

NTY Franchise Company Opens Their 200th Store

National Leader of Upscale Resale Brands Will Celebrate 200th Store Opening in November

NTY Franchise Company, a national upscale resale franchise headquartered in Minnetonka, Minnesota, today announced the opening of the company’s 200th store on Thursday, November 10 in Newport News, Virginia. Device Pitstop, NTY Franchise Company’s mobile and electronic device resale franchise, had the honor of achieving the company milestone when they opened their doors on Thursday morning.

“We’re very excited to open our 200th store in Newport News, Virginia this November,” NTY Franchise Company COO Chad Olson said.

“The opening signifies our continued growth and commitment to meeting the modern consumer’s need for high-quality clothing, devices and other items at an affordable price.”

NTY Franchise Company was founded in 2006 by President Ron Olson. Their first brand launched with the purchase of franchising rights for Clothes Mentor, a women’s resale store that today features more than 140 outlets. In 2011, NTY expanded its offerings by purchasing the franchise rights for New Uses, a resale store for home goods such as furniture, artwork and more. Expansion continued in 2013 when the company purchased Laptop Exchange and renamed it Device Pitstop, a franchise that buys, sells and repairs personal electronics.

In 2014, the company developed two new brands from scratch — NTY Kids, for newborns through preteens, and NTY Clothing Exchange for teens and young adults. A year later, NTY Franchise Company purchased an existing kids’ resale store, Children’s Orchard, and merged it with NTY Kids. The name Children’s Orchard stuck, and the new total of 30 stores were revamped to fit the modern design and concept developed by the NTY team.

About NTY Franchise Company

Founded in 2006 by Ron Olson, NTY Franchise Company is the gold standard in resale franchising companies. NTY franchises five brands, all with a different focus: Clothes Mentor, Children’s Orchard, Device Pitstop, New Uses, and NTY Clothing Exchange. The brands are all resale-based and cover women’s designer fashions, children’s apparel and accessories, furniture and household goods, electronic sales and repair, and clothing for teens and young adults. All are great business opportunities with cutting-edge technology, unmatched support, and lucrative resale franchises. NTY Franchise Company has helped individuals to establish resale stores throughout the United States in many communities, and it has territories available to develop nationwide.

Click here to see more from franchising.com.