Interview with COO Chad Olson Featured in USA Weekly

If you could go back in time, what business advice would you tell your younger self? Chad Olson, COO of NTY Franchise Company, shares what he has learned and more in this excerpt from USA Weekly.

Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. It is not easy running a company, especially in a fast-paced, ever-changing business world. Technology advances, new hiring strategies, and now, political changes coming with the new administration, all add to the existing business challenges that entrepreneurs, business owners, and executives have to deal with.

Maximizing profits, minimizing expenses and finding talented staff to keep things moving seem to be top challenges for both SMBs and large corporations. We have been interviewing companies from around the world to discover what challenges they are facing in their businesses. We also asked each company to share business advice they would give to a younger version of themselves.

Below is our interview with Chad Olson, COO at NTY Franchise Company:

What does your company do?

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.

What is your role? What do you enjoy most about your role?

I am the COO of NTY Franchise Company. What I enjoy most about my role is working through the different challenges and opportunities that arise every day. There is constant problem solving and coaching opportunities and I am fortunate enough to hopefully make a difference. Our franchisees have invested a lot of money to open their business, achieve their goals of being their own boss and generate success. The thrill for me is having the opportunity to help them realize these goals.

 

Click here to read the full article on usaweekly.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.

5 Reasons Why NTY Franchises are Sustainable Businesses

Selecting a franchise is a big decision. That’s why it’s important to choose one that will stand the tests of time and the economy. Here are five reasons why NTY franchises are sustainable businesses:

1. Resale

All five NTY franchises are resale businesses. By its very nature, resale is sustainable. Take the company’s flagship brand Clothes Mentor, for example, which started franchising in 2007 when the U.S. economy was on the verge of a recession. Within the following few years, when other retail stores were struggling, Clothes Mentor stores were thriving. The downturn created an even bigger demand for the resale niche that has continued to grow as the economy improves.

2. Green Concept

Franchisees that partner with NTY and customers that shop our stores value the reuse of quality goods. NTY stores buy products from customers for cash on-the-spot, which puts money back into the pockets of people within the community. This, in turn, helps the planet by extending the life of great clothing, shoes, furniture, toys, electronics and more and keeps those items out of landfills.

3. Customers Love NTY Products and Services

Just like they love making money by selling items to NTY Franchise stores, customers love saving money by shopping with us, too. Our point-of-sale software features a sophisticated buy matrix, which helps NTY Franchise stores price their high-quality merchandise at approximately 70% less than the original retail price. That great value and seeing new items on the floor every day keeps shoppers coming back.

4. Profitability at Store Level

Our proprietary point-of-sale system also helps stores stay on course for achieving high gross margins of approximately 60%, which translates to a faster return on investment, greater profits and the opportunity for rapid growth to multi-store businesses. The following is a snapshot of the return-on-investment numbers for franchisees with our Children’s Orchard brand.

Return on investment numbers for Children’s Orchard:

children's orchard top store sales 2015Children's orchard average store sales 2015

5. Accessible Corporate Team and Franchisee Network

With 200 stores open across all brands, NTY has developed a strong franchise support system that starts with a highly experienced management team. In addition, we have a large and diverse network of franchisees that are easily accessible for validation during the franchising process as well as ongoing support in the form of idea sharing, franchise advisory councils (FACs), potential advertising cooperatives, comradery and more.

Click on the brand logos at the top of this page to find out more about NTY’s five franchises.

 

*$648,342 is the average net sales of the 5 stores included in the top 25% of all 21 Children’s Orchard® stores in operation for entire calendar year ended December 31, 2015. Of the 5 stores included in the average net sales for the top 25% of all stores, 2 stores (40%) met or exceeded the average net sales. There is no assurance, however, that you will do as well. See Item 19 of the Children’s Orchard® Franchise Disclosure Document dated April 26, 2016, for more information.

200 Stores and Counting: NTY Franchise Knows How to Build Resale Businesses

With the opening of its 200th store, NTY Franchise Company continues to grow and be a leader in the upscale resale industry. Check out the great article about the company and its five innovative resale brands from the January issue of Global Business North America:

global business north america article about NTYglobal business north america article about NTY

global business north america article about NTYglobal business north america article about NTY

global business north america article about NTYglobal business north america article about NTY

global business north america article about NTY

global business north america article about NTYglobal business north america article about NTY

global business north america article about NTYglobal business north america article about NTY

Click here to see the article inside the digital issue of Global Business North America.

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.

Children’s Orchard Huntersville Featured in Local Magazine

Find out what drives Children’s Orchard Huntersville franchisee Shasta Webber in this inspiring article from Lake Norman Women Magazine.

My Passion? My Life!

By Leslie Ogle

With great family and friends and a successful career, things could not have been going better for Shasta Webber, owner of Children’s Orchard in Huntersville. But oftentimes, we have to deal with sudden intrusions that demand our immediate attention. Such was the case for Shasta in 2010, when she needed to remove a kidney. One week after the surgery, she suffered a pulmonary embolism (a sudden blockage of a major blood vessel in the lung) that could have taken her life.

“At the time, it would have appeared that I was most passionate about my career,” Shasta recalls. “Although I desired success, I realized I was doing a horrible job at letting the most important people in my life know they were just that: the most important thing in the world to me. Since that health scare, I’ve recognized that my life and the people in it are my passion. Even with the craziness of a new business, I make sure my loved ones know what they mean to me, and never feel like they’re ‘penciled in.’ I make time for my family because we never know what tomorrow brings.”

Shasta grew up in Catawba, North Carolina, and eventually found a career in human resources. After 20 years in corporate America, she decided to pursue two items on her to-do list—finish her college degree and own her own business. Bachelor of business administration, graduating Magna Cum Laude at age 40, check; opening her own business, check.

“My incredibly positive and motivating husband, Craig, keeps me going, as do the great people who work at the store,” Shasta says. “They have put their trust in my and the business; they work hard to make it successful. In return, I want to make them proud.

My mom has also been another great motivator and influence in my life; she is my biggest fan and an enormous part of my support system.”

Children’s Orchard, Shasta points out, is a “well-organized resale store that boasts an intuitive software,” which allows them to quickly price items at 60 to 70 percent below mall- and department-store prices. Shasta was delighted to discover an opportunity that was so aligned with her own strategies, philosophies and goals.

While Shasta never had children of her own, she and Craig have their furry babies (one dog and two cats) and are passionate about North Meck Animal Rescue and other animal rescue efforts. They also support several other charities, including Make-a-Wish and Little Smiles. Shasta would like to continue to volunteer and remain an integral part of the Lake Norman community.

“We just love this area,” she grins. “I grew up here and could not call anywhere else home. I’m amazed by the people I meet, especially the women I encounter every day. They’re constantly working to maintain the work-life balance we so frequently talk about. In order to deal with it, they must have amazing time management, support, patience, agility, among their abilities to face the challenges that life throws at them. And I’m pretty sure some of them have super powers!”

Click here to see more from Lake Norman Woman Magazine.

Chad Olson and Children’s Orchard Featured on Forbes.com

Learn about NTY Franchise Company’s merger with Children’s Orchard in this quick read from forbes.com. Find out why Chad Olson and team decided to merge, how they did it and where the Children’s Orchard franchise is headed in the near future as a result.

Secrets to a Successful Small Business Merger

Every small business merger is unique, but they all share a few common challengers, from choosing the right partner, to managing the transition, to branding and post-merger management. Here’s how five small business owners pulled it off.

Building a Franchise

A longtime franchise veteran sought to turn his prototype children’s apparel resale shop into a national franchise by merging with Children’s Orchard, a recognized brand with 32 stores.

Why Merge?
Olson’s prototype store, NTY Kids, needed a recognizable, trusted brand to grow. Children’s Orchard needed point-of-sale software to bring its stores into the 21st century—technology available through another business Olson owned.

What Happened
Olson and his team moved slowly, announcing the merger to franchisees over the phone, and not making a single change to operations until they had met with each owner face-to-face. “It was all about building that relationship and credibility with the franchisees.”

Takeaway
A merger can be a frightening prospect for franchisees because it affects how they run their individual businesses. “These people are entrepreneurs. They’ve invested money. This has been their life and blood and livelihood for a lot of years.” Patience and empathy is vital.

Read the full article on forbes.com.

What Makes Children’s Orchard Work? Find Out in This Video

Would you like to find out what makes a successful children’s clothing franchise? In this video, a store owner explains why customers buy and sell children’s clothing, shoes, equipment, toys, games and more at her store time and time again.

What makes a successful children’s clothing franchise? 

Do you prefer a text version or want to read along with the video? If so, you can find the full text transcript below.

News Anchor: Do you have a bunch of stuff sitting around the house, particularly unused clothes that you no longer wear? Well your trash may be another person’s treasure. Reselling new or gently used items has become a multi-billion dollar industry and with a few small tips you too can get it on the craze. Kathy Wagner has been doing this for quite sometime, reselling clothing, particularly children’s clothing.

Children’s Orchard: A high end children’s resale franchise

News Anchor: First of all, Kathy, I know that some people may not know the difference between consignment stores, clothing resale franchises, and garage sales. What is the difference?

Kathy: Well, in consignment stores you take your clothing to them, they sell it and then you get your money. With a resale shop, you come in, we peruse the items, we buy what we think will sell, and you get paid right away.

News Anchor: That is fantastic. Now you have had the store for 13 years, but it has been around for about two decades. So it must really be working. We know that kids are constantly growing, so you have to get rid of old stuff and get new stuff. Why not make some of your money back on it. What do we need to know?

Low cost, high quality children’s clothing

Kathy: Well the main thing is that we want things to be clean and neat. We don’t designate for seasons, we take all seasons all of the time. We want clothes that have been washed with in a week and are neatly folded, and in good shape.

We take clothing from infant to junior sizes. We buy all brands, the less expensive the item is the better it needs to look. This is simply because people can go to the budget store and buy things on sale. 

We specialize in higher end items, especially smocks. People come in and they love to buy our smocks which can be very expensive when buying brand new. We price them at one fourth to one half their retail value. People come in looking for certain things. Like the Lily Pulitzer that you have there. We have people who come in weekly to check their favorite brands and their sizes. Same thing with our playmobils, legos, and blocks. People are coming in with a need. The best thing about our job is that we can take a need and then we can find a source.

There is no waste there which is important. So I see your tips here to turn those leftover items at home into cash.

  1. Sort through your children’s closets to find items they’ve outgrown or rarely wear
  2. Children’s resale stores want current fashion styles and trends
  3. Items should be free of wear, tear, and stains. Wash clothes before reselling
  4. Save time by having a valid ID ready, and know if you want cash or credit towards a purchase in the store

What kind of folks do you see coming in looking to sell their items? I would imagine it is people from all walks of life.

Yes, you are right. But the biggest portion of our sellers are coming from the middle of the road. They are families who appreciate a good bargain and they are looking for someone who sees the value in the things that they have put their cash and their heart into.

Children’s clothing resale franchise is a win win

Everyone wants to think that what they have is valued, and they get excited to think that someone else wants what they had. It is a perfect marriage of a need for recycling and finding the source which makes you feel justified in getting rid of items, and having someone come in and find something awesome at a price they can afford.

Well, we appreciate you being here. There is a lot of money to be made and some great items to be purchased this summer. Asses your kids clothes before the start of the new school year. For more tips and tricks, visit TWCNews.com and click on the “In depth”  tab under our News tab.