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:
Click here to see the article inside the digital issue of Global Business North America.
From opening their stores to growing their businesses, find out what franchisees appreciate most about working with NTY Franchise Company:
“I’m thankful for franchising! Combining my entrepreneurship passion with best practices, systems and tools from a proven franchisor is a winning combination. 2016 was a great year! Our great DP Pit Crew worked incredibly hard with our wonderful customers, helping them to economize and optimize their digital life (computers, tablets and cell phones).” – Bradley R. Swenson, Device Pitstop Maple Grove
“Being a franchisee with NTY’s Clothes Mentor fulfills my dream of being my own boss while giving me the safety net of industry experts who are just as invested in my success as I am. I couldn’t imagine opening a business any other way.” – Jennifer Walters, Clothes Mentor Torrance
“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 as well. 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 Sugarland
“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
“There are so many things we love about franchising. One aspect is that we have a blueprint of how to run our business. We have other people in a like businesses to learn from and share ideas. We feel like we have an extended family in our relationships with our franchise companies and our employees. We could not do everything alone.” – Randi Zied, Clothes Mentor North Olmsted, Strongsville and Mayfield Heights
“We are thankful to show our children (ages 9-16) how to own a business. We’re thankful they’ll see how much hard work is required, how important good character is and what a blessing it is to work together as a family!” – Kathy and Lane Bosley, Clothes Mentor Tyler
“Franchising gives me the flexibility to make more family time. There are no clocks to punch, no supervisor to decline vacation requests.” – Brad Peterson, Device Pitstop Burnsville
“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 and Alyssa Cox, Clothes Mentor Charlotte Arboretum, Charlotte Midtown and Rock Hill
“I have owned several startup businesses (none of which were franchises) and it is a lot of work, more than people may think. I have now just started a Device Pitstop franchise and I am very thankful because they have taken every process and made it flawless. While I own my own business, I have a team of experts to lean on at all times. Priceless!” – Matt Paperi, Device Pitstop Overland Park
“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 and West Chester
“People are always searching for that thing in life that provides them the opportunity to succeed. Franchising allows you to obtain independence through the fruits of your own efforts.” – Mike Thorn, Clothes Mentor Cordova
“I am thankful for the continued support from NTY with system updates and resources. Support like this is critical for the franchisees to keep up with and stay ahead of new technology. It also allows us time to focus on our store and marketing.” – Joe Ferrazzo, Device Pitstop Maplewood
“I’m thankful for deciding to open a franchise, because name recognition and corporate support from experienced franchisors, are two important factors to a successful business.” – Karla Fitzpatrick, Clothes Mentor Burnsville
“We are thankful to have found the opportunity to own a franchise CM store. Because of this, we moved back to our home state of Oklahoma to be near family, which encouraged more family to move here, too. We doubt this would have happened in the three years we’ve been here, without this major life change.” – Mike and Melanie Harris, Clothes Mentor Edmond
“We are thankful to have an opportunity to buy quality, stylish clothing from customers and then sell them at affordable prices.” – Jennifer Small, Clothes Mentor Portage
“They make the hard stuff easy!” – Scott Stansbury, Device Pitstop Anchorage
“I’m thankful that our franchise is here in our community for all women and all sizes. Our Clothes Mentor has helped women create new styles and a new sense of confidence when it comes to their fashion needs. We are thankful to be a part of that new confidence.” – Michael and Wyndy Reese, Clothes Mentor Jonesboro
“I am thankful that our Black Friday Sale is completed, on the Saturday before official Black Friday. It was very successful thanks to creative thinking of our corporate staff. “ – Don Leventhal, Clothes Mentor Bloomington
“We operate in a crowded market and I am not sure how I would break through if I didn’t have marketing support from the franchise. I wouldn’t be able to rise above the noise. From professionally designed materials to creative sales strategies, I am thankful that I have the franchise marketing support and I am not spending hours—no, days—trying to do it all myself.” – Chris Barnett, Clothes Mentor West Chester and Springfield
Check out this exciting article from Franchising USA about NTY Franchise Company’s 200th store opening this month!
National upscale resale franchise NTY (New to You) Franchise Company, headquartered in Minnetonka, Minnesota, will open their 200th store on Thursday, November 10. Device Pitstop, NTY Franchise Company’s mobile and electronic device resale franchise, will have the honor of achieving the company milestone when they open the doors of their new franchise unit in Newport News, Virginia.
“We’re very excited to open our 200th store in Newport News, Virginia this November,” NTY Franchise Company COO Chad Olson (pictured above) 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.”
Founded in 2006 by Ron Olson, NTY Franchise Company features five resale brands, all with a different focus: Clothes Mentor, Children’s Orchard, Device Pitstop, New Uses, and NTY Clothing Exchange. Their brands cover everything from 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 brands feature cutting-edge technology, support, and lucrative franchising opportunities to help candidates establish resale stores throughout the United States.
What makes NTY one of the 50 fastest-growing private companies in the Twin Cities area? Find out in this excerpt from an article by the Minneapolis/St. Paul Business Journal:
What’s one business decision you made in the past three years that’s been critical to your firm’s growth?
Putting as much information onto our franchise development website as possible. In the past this was taboo, it was normal to hold your cards close. In today’s world information is king. If you want to sell franchises you need to have your information front and center.
Click here to see the impressive growth numbers for NTY Franchise Company.
Click here to see the full Fast 50 2016 list on bizjournals.com.
Learn more about the Fast 50 list in this excerpt from a note about the project by editor Kim Johnson:
It isn’t the easiest task to get revenue figures from private companies. Our reporters are frequently told, “We’re a private company. We do not share revenue information.”
It’s even more of a stretch to ask them for actual financial statements.
However, each summer the Business Journal doggedly searches the Twin Cities 24-county metro area to find the region’s fastest-growing private companies. We look for independently owned, privately held, for-profit businesses that are headquartered here. We look for year-over-year revenue growth from the three most recent fiscal years. We look for companies with at least $1 million in revenue from the first of those three years.
And then we require them to send in three years of financial statements that have been audited or reviewed by an independent accountant.
And those documents go to our own accounting partner for further verification and number crunching.
It’s a lot to ask of private companies used to keeping their revenue numbers close to the vest. But it’s imperative we ask this of each company submitting a nomination for our annual Fast 50 awards. Everyone is held to the same standards to ensure the integrity of this list, which showcases some of the state’s best-in-class enterprises.
These companies aren’t just growing their bottom lines. They are creating jobs at extraordinary rates. They are providing growth opportunities for the businesses that serve them. They are boosting Minnesota’s economy.
So thank you to all the companies that submit nominations for this project — not just for the above, but for being willing to jump through the hoops we ask you to in order to produce this awards publication.
NTY now offers financial incentives to veterans that choose to franchise any of its five resale brands. As part of VetFran, a strategic initiative of the International Franchise Association (IFA), NTY provides a $2,500 discount off of the franchise fee for all qualified veterans that purchase a Children’s Orchard, Clothes Mentor, Device Pitstop, NTY Clothing Exchange or New Uses franchise.
VetFran was created in 1991 as a way of saying “thanks” to veterans returning from the first Gulf War. Today, the network of franchise brands participating in the initiative has grown to more than 650, all voluntarily offering financial discounts and more to veteran franchisees. According to VetFran, more than 238,000 veterans and military spouses have found opportunities in the franchise industry as either franchisees or employees.
According to a study conducted for the IFA Educational Foundation based on U.S. Census data, one in seven franchise businesses are owned and operated by veterans of the U.S. military.
NTY Franchise Company’s resale brands offer a proven, profitable business model with many ongoing benefits—a great business option for veterans. Learn more about each of NTY’s five resale franchise options by clicking the links below.
Capping off a week of training earlier this month, the NTY Franchise Company team came together for a morning of fun and volunteering at Feed My Starving Children, a local charity that ships easy-to-prepare, nutritional dry meals to children in need in countries all over the world. And we even got to keep the hairnets!
Check out some snapshots of the event below, and click here to learn more about Feed My Starving Children.
Watch this video message from Chad Olson, NTY Franchise Company’s Chief Operations Officer, and be inspired to open your own resale business! Find out what makes NTY’s five resale brands unique as well as get a feel for our company values. Check it out now:
NTY Franchise Company’s VP of Clothes Mentor Ted Manley talks with NCR Silver about how to tell your story through store design. Check out the article below or read it on ncrsilver.com.
by: Deborah Nurmi
As a small business owner you are aware of how challenging it is to attract the customers you want to serve.
According to Pam Levine, president of Levine Luxury Branding in New York City, all good retail design is based on one premise: Retail shoppers desire an enjoyable and memorable experience.
She offered the following 5 tips for designing a winning store space:
Branding matters
Think of your store as an opportunity to develop your “Brand Culture.” Brand Culture, part magic and part lightening strike, is the totality of your relationship with your customers.
“Consider everything you say as your brand message, everything you do as brand engagement and everything you present as brand visual merchandising. See it all as an opportunity to communicate and engage with your shoppers,” Levine said.
Know your customer
Know what makes you different from your competitors and what your customers are seeking.
“Ask yourself what is important about your services or merchandise that will mean something to your customers?” Levine said.
Give your shoppers what they want then help them share it.
“Millennials and others will want to share a good experience, cool product or new store discovery with others. Encourage shoppers to photograph, tweet, use Pinterest, social media and more while inside your store,” Levine said.
Interaction is key
Harry Selfridge is the father of modern marketing, and his most important question was “Are you being served?” Use Selfridges’ philosophy and make shopping an experience.
“Hospitality and pampering goes a long way – respect your customer,” Levine said. “Interest matters. Invite them in, personalize the experience. Make them feel at home. Serve coffee, cookies or wine,” Levine said. “Remember names and get to know your customers.”
Visual marketing is your silent salesperson
Store design is all about visually stimulating your customer.
“In order to attract customers and keep them shopping longer, store owners must learn how to effectively communicate visually. If possible, hire a pro,” Levine said.
Use the concept of visual storytelling. “Remember, your product is the hero,” Levine said.
Ted Manley, vice president for soft-line products at NTY Franchise Company, believes all visual marketing is storytelling.
“Effective visual merchandising is the ability to communicate to your customer by allowing your product to be a series of storyboards to excite your customer,” Manley said.
Storytelling with visual merchandising is a four step process:
Preparation: Understand what your product mix will look like for the display you are planning. What products are best sellers or hot right now? Spend time looking at your competition and other stores’ displays.
Advertising: What products, events or promotions is your store planning? “Decide how you want to communicate that, and then decide how you want to carry that theme into your store,” Manley said.
Development: Start with the store front. Your goal is to express the story you want to tell your customer. “Think of your windows or entry way as a billboard. You have 23 seconds to look at it and understand what that display or product is trying to tell you,” Manley said. Move inside and plan out your feature areas and endcaps and their stories. Consider color. “Color is the most dominating aspect of visual merchandising,” Manley said.
Execution: Your signage helps communicate key aspects of your visual story. “Signage is an art not a science. Be careful not to “over sign” your store, but don’t be afraid to tell the obvious in a sign,” Manley said. Next create in-store displays. “Demonstrate how an arrangement of merchandise can enrich a room or home. Help the customer envision the items in their homes or wearing a great outfit on vacation or at an event,” Levine said, “but don’t overdo it. Less is more – keep your presentations simple and uncluttered.
Visual marketing is an ongoing process. Be willing to review and change as often as needed. This will depend on your traffic pattern and how often your best customers visit your store. “Customers love newness, change and stimulation. A good visual merchandising program will deliver in sales,” Manley said.
Consider all customer touch points
Customer touch points include every contact a customer has with your brand from beginning to end. These may begin with seeing an advertisement for your shop or finding your website and continue through shopping and customer feedback. Touch points create a cumulative experience for your customers, so consistency is key. Service is imperative.
“Enthusiasm, care, sincerity and authenticity touches people on an emotional level. It’s key to building brand loyalty and is positively contagious,” Levine said.
This article, originally published on huffingtonpost.com, mentions NTY Franchise as a growing company in the booming resale industry. Read on to learn why franchising a resale store is such an appealing option for entrepreneurs:
By Yatin Khulbe
It goes without saying that finding the right balance between a successful retail strategy and an approach that sets yourself apart can be a big challenge.
After all, an increasing number of new businesses fail each year while attempting to break into the seemingly impenetrable arena of modern retail.
The wall of the booming big box and major brand monoliths isn’t entirely impenetrable, however. Surprisingly, a number of upcoming retail contenders and franchises have taken an unorthodox approach to the resale market in recent years.
They prefer to focus on cultivating an upscale atmosphere and level of service usually reserved for their conventional and big brand counterparts.
So how did “resale retail” go from a budget niche to a booming new brand of resellers with increasing interest and profit margins?
Here are some of the points which encouraged resellers in coming up with smart and unconventional strategies in recent years:
Flexible Points of Entry
The unique nature of upscale resellers as an up-and-coming industry often mean that aspiring entrepreneurs looking to break into store management or ownership can enjoy more substantive options to finance a small business.
The availability of franchise opportunities among national resale parent companies has skyrocketed recently.
Resale is a multi-billion dollar a year industry because it attracts the consumers from all economic levels.
Why are buyers are excited about resale deals?
The answer is simple.
Everyone wants to save money on consumer goods and utilize it for vacations, child education, retirement funds, and various family activities.
Breaking into franchise management can traditionally serve as a safer starting point for those getting their start in ownership across a variety of industries.
Companies looking to expand the influence of their existing resale branding have substantially increased the availability of options for management newcomers in recent years.
What does it mean?
A minor nest egg can be invested with a greater range of strategies for those looking to make the most out of their existing experience in retail and business.
Unfortunately, the majority of small businesses generally won’t expect to yield profit margins in the first months (or even years) of operation.
If a budding retail entrepreneur doesn’t find this initial period of low profits viable or attractive, a partnership with an existing upscale resale franchise can often provide valuable options for getting the ball rolling.
Consistent Consumer Experience
Traditional resellers have often relied on lower than standard profit margins and nonprofit dichotomies focus on providing a service to the local community.
On the other hand, upscale resale stores concentrate on consumer experience by understanding the needs and desires of their buyers.
Modernized resellers provide no restraint shopping experience to the customers. It allows for more competitive price points while still retaining the attractive benefits of a resale outlet experience. Resale businesses with a focus on this above-par shopping experience include growing resellers such as NTY (New To You).
Why modern resellers overpower traditional counterparts?
It’s win-win for both the parties.
Consumers lock down lower prices while still enjoying the experience and atmosphere that come with new goods retailer.
The benefit doesn’t extend solely to customers.
The smooth shift towards an upscale customer experience means that owners and franchisees can expect to enjoy an operative experience and keep up with the steadily rising revenue of retail frontrunners as well.
Strong Support Systems
Breaking into uncharted territory doesn’t mean that resale franchises are going alone. In fact, a vast majority of resale stores rely on the framework of support networks that allow them to fall back on training opportunities, marketing materials, and more.
The main question arises:
Why are they helping each other?
A range of prospective overhead costs is saved which require a lion’s share of time and money.
As a result, this support mechanism allows room for innovation.
Lower Overall Risk When Taking the Leap
The idea of kicking off small businesses looks very attractive, but it often leads to lower than anticipated profits. The standard new retail venture without well-timed market research means failing within the first year or even less timeframe.
On the more optimistic flip side, from the very beginning, resale retailers break into the market with the convenient advantages.
For example, reliance on inventory that stems from donated clothing, furniture, or even the computer hardware take away the pain of investing in new stocks.
Without investing deeply in product purchases on the front end, the same investment can be allocated for primary concerns such as property and operation overheads.
NTY Franchise supports veterans with several opportunities and incentives for franchising its resale stores. Read the Franchising USA article about this topic below, or click here to see the article on franchisingusamagazine.com.
NTY, standing for ‘New To You’ is a company that owns the franchising rights to five brands in the resale retail industry: Clothes Mentor, Children’s Orchard, Device Pit Stop, New Uses and NTY Clothing Exchange.
“Our main goal is to sell franchises and then support the franchisees that we sell them to,” NTY’s chief operating officer Chad Olson said during a recent interview from the company’s headquarters in Minneapolis.
Clothes Mentor, which buys and sells used women’s fashion and accessories, started franchising in 2007. Currently, it has 140 stores open and 43 stores sold and awaiting opening.
Acquired by NTY in early 2014, Children’s Orchard buys and sells gently used kids items. It currently has 27 stores open with two sold and awaiting opening.
Device Pit Stop, meanwhile, has 11 stores open with another 10 sold and awaiting opening. NTY acquired the brand’s franchise rights in the fall of 2013. It buys and sells used electronics.
Buying and selling used home goods like furniture, artwork and small appliances is the business model for New Uses. The brand has 11 stores open with one sold and awaiting opening and it’s been around since 2011.
And with two stores open and four sold and awaiting opening, NTY Clothing Exchange, which buys and sells clothes in the teen and young adult market, started franchising in Mid-2014.
In a world that is increasingly looking for environmentally friendly ways to deal with everything, all of NTY’s brands offer that coveted green alternative for people’s old clothing and other items, Olson said, giving people the option of getting cash for the stuff they’re no longer using rather than just throwing it away.
And with consumers often being highly cost conscious, NTY also gives them a way to save money, with products selling for, on average, 70 percent less than they would be sold as new.
All of the NTY brands make sure the items people bring them have resale value. It has to be in good condition and, in the case of apparel, it also has to be in style. Each brand will evaluate a product and they all have a pricing matrix they use to make sure they’re selling items at a price that gives value to the customer and also the business.
Clothes Mentor was founded in Columbus, OH. with a store in that city and another one in Canton, OH. Olson and his father, Ron Olson, decided to go into business together, both having Resale/Retail franchising experience with another company.
When they began looking at what opportunities were out there for their own business, they found out about Clothes Mentor and noted the two stores were doing quite well. From there, the father and son negotiated the franchising rights to that brand and have been adding to the NTY family since.
While their franchisees come from all walks of life — from teachers to former professional bull riders — they all have one thing in common and that’s the one thing NTY wants in a franchisee.
“We want people who have that entrepreneurial spirit,” Olson said.
They must have motivation and they must also have accumulated some wealth in the past that they’re able to invest.
While the company has just a handful of veteran franchisees at the moment, Olson is looking to change that, as he knows veterans have a stellar reputation as franchisees.
Veterans’ dedication and commitment to carrying out the processes they’ve been taught is what makes them good franchisees, he noted.
“That’s what franchising is all about, taking the business model and the processes that we have proven to be profitable and teaching it to others,” Olson said. “People who have had that military experience following processes fit really well into a franchise system because they will take those processes that we have developed to run and execute a successful business model and follow those processes to a tee.”
NTY has just submitted its application to join veteran franchising organization VetFran. Currently, veterans receive a $2,500 discount off any NTY franchising fee.
As an added incentive — and this goes for any franchisee — three of NTY’s brands also offer a $40,000 jump start program.
Any franchisee that opens an NTY Clothing Exchange, a Children’s Orchard or a New Uses will receive a $20,000 marketing contribution from NTY when their store opens. In addition to that, every six months after their grand opening, they will receive an additional $5,000 marketing contribution from the parent company over a two-year period, totaling a $40,000 contribution toward marketing from NTY.
NTY helps franchisees find the right real estate, helps them procure financing, and brings them to Minneapolis for three weeks of comprehensive training in every aspect of running their business.
The company also offers support on site when franchisees are building out their store and getting it ready to open to ensure it’s being built out properly, they’re acquiring inventory properly and their employees are being trained properly. Then they’ll let the franchisee start running their store and come back out to help franchisees with their grand opening. NTY representatives will visit again 90 days after grand opening, a minimum of three times in that first year to check on inventory, customer service and if franchisees need any additional training.
Each brand has its own regional operations managers, which are assigned to franchisees. Each regional manager has about 20 or 30 franchisees in their region and their main goal is to be a small business consultant. They have monthly consultation calls with franchisees and answer any questions they have and visit franchisees at least once per year.
All of NTY’s brands are open to expanding anywhere in the United States. The collective experience of everyone who is involved with NTY is a huge incentive for any frachisee to choose one of the company’s brands for opening a business, Olson said. Each brand has a vice president in charge of it, he explained, and all of those vice presidents have over 20 years of experience in the retail resale sector. His father, who is president of the
company, has 30-plus years of experience in the sector and when you add in Olson’s 22 years of experience, that’s a lot of knowledge for new franchisees to draw from.
For veterans who are looking to make a new start in life, NTY gives them an opportunity to make that new start a success.
