It’s easy to save on back-to-school for your little ones when shopping resale. Children’s Orchard franchisee, Jade Moore, shares examples of savings at her store in Little Rock, AR.
Big Savings for Back-to-School at Children’s Orchard Tulsa
Children’s Orchard franchisee, Margie Quinlan, reveals just how much customers can save on back-to-school clothing.
Top Four Tech Tips from Device Pitstop Maplewood
Cathy Ferrazzo, franchisee of Device Pitstop in Maplewood, MN, shares her four biggest tech tips in this clip featured on WCCO-4.
Upcoming Seminars to Learn About Franchising and NTY
NTY Franchise Company will be discussing our innovative franchise opportunities in person at the following seminars presented by the Franchise Consulting Company (FCC).
Hear firsthand from our VP of Franchising, Jim Wollman, about what makes our five resale brands special and our business model successful.
Upcoming Seminars
March 16: Santa Clara, CA, hosted by Rick Morgin.
March 18: Los Angeles, CA, hosted by Stephen Winterrowd and Lauren Grant.
March 29: Fort Lauderdale, FL, hosted by Cliff Fostoff.
Hope to see you there!
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:
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.
Build a Successful Business with One or Many NTY Franchise Stores
You can be very successful with just one NTY Franchise store, but our business model is easily scalable, too! Find out more about this topic in the two quick videos below featuring NTY’s VP of Franchising.
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:
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.
Top 10 Furniture Trends
What are the latest furniture trends for the home? Find out in this article from furniture.about.com.
Top 10 Furniture Trends
New Directions for Furniture in the 21st Century
By Abe Abbas
Furniture trends are dictated by who is buying what and why they’re doing it. Trends should not be confused with fads, which are fickle. Trends are the undercurrents that drive the results.
Some of the forces working behind furniture trends of the 21st century include younger buyers and technology. Women have more buying power than ever and are more involved in choosing and buying furniture. The globe seems to be shrinking, and there’s a rising concern for the environment. All this has resulted in some furniture riding a wave of popularity in the millennium.
1. Furniture Going Green
Furniture trends are dictated by who is buying what and why they’re doing it. Trends should not be confused with fads, which are fickle. Trends are the undercurrents that drive the results.
Some of the forces working behind furniture trends of the 21st century include younger buyers and technology. Women have more buying power than ever and are more involved in choosing and buying furniture. The globe seems to be shrinking, and there’s a rising concern for the environment. All this has resulted in some furniture riding a wave of popularity in the millennium.
2. Furniture With a Smaller Profile
Our living spaces are shrinking, and large and ponderous furniture pieces seem out of place in many of today’s smaller homes. The shift toward smaller pieces goes hand-in-hand with a preference for furniture that’s less ornate and more contemporary.
More streamlined furniture seems to be the logical choice for consumers trying to make efficient use of their available space. Recliners and chairs with smaller profiles are increasingly available as women tend to want to buy furniture that’s more suited to their preferences.
3. Multifunctional Furniture
Multifunctional furniture is not a new concept, but it has come into its own — perhaps as a result of those smaller living spaces. You need furniture that can perform multiple tasks when space is at a premium.
A lot of buyers look for extra storage to reduce clutter. You can find storage in tables, under beds and in entertainment consoles. Multifunctional furniture can serve any number of additional uses other than its main function. It can be used for sleeping guests — or even pets.
4. Technology-Driven Furniture Design
Modern technology has an effect on furniture design as well. This is most apparent in the design of entertainment centers.
Entertainment centers are obviously made to accommodate our entertainment paraphernalia, but bedroom sets, accent tables and other furniture pieces are also being made to accommodate gadgetry. Even a traditional piece such as a roll top desk can be updated to accommodate laptops and peripherals. The nightstands in the Hooker bedroom collection pictured here have pull-out shelves, outlets and USB ports for charging laptops, iPods and phones.
5. Popularity of Vintage Furniture
Vintage furniture is enjoying a surge in popularity. Yes, nostalgia is involved, but the search for green furniture also contributes.
Vintage furniture is green on many counts. Although the finishes weren’t originally non-toxic, they’ve finished off-gassing so they’re safe for indoor air. When you buy vintage furniture or use furniture you’ve inherited, you’re rescuing it from going to landfills. It’s already survived a lot of years so it’s probably well-made and durable. Hard economic times also make buying vintage furniture a feasible choice — it’s often less expensive.
6. Globally-Inspired Furniture
The globe seems to be shrinking and other cultures no longer seem quite so distant and foreign. The idea of bringing the world to our homes is catching on.
This isn’t just confined to bringing in furniture from other parts of the world but from their bygone eras as well. In the case of Asian-inspired furniture, it could be a search for a more Zen-like interior space or drama. Whatever the reason, the lure of travel has made globally-inspired furniture very popular.
7. The Growing Importance of Outdoor Furniture
Sales of casual and outdoor furniture have grown leaps and bounds. Consumers are discovering that they can significantly add to their existing spaces by utilizing outdoor areas as well. Outdoor rooms have become very desirable, and the quality and design of outdoor furniture has developed tremendously. Many furniture pieces can be used either indoors or outdoors.
Outdoor fabric has improved, too. The colors, textures and patterns can just as easily be used indoors, and they’re typically easier to maintain and keep clean.
8. Custom-Made Furniture
Customization of furniture seems to be a trend that continues to develop and evolve. While some manufacturers, such as Norwalk, have been offering it for years, the growing demand has made more manufacturers take notice. Smaller studios have offered customization for years, but more mainstream manufacturers such as Ethan Allen and Thomasville are offering an increasing amount of customization as well.
It can vary from fabric color or pattern to changing the style of an arm or leg on a sofa. Many manufacturers let the customer provide his own fabric. There are choices in finishes, colors, veneers and hardware options in casegoods. It depends on the manufacturer, but customization seems to be a trend that’s catching on.
9. Specialty Sleep Surfaces
The interest in specialty sleep surfaces began with waterbeds and it’s grown and developed over the years. Specialty sleep products now make up a sizable share of the sleep market.
With our hectic lifestyles, a night of perfect and comfortable sleep seems like the ultimate reward. Although it’s possible to find your perfect sleep surface, it’s not the easiest of tasks and it might require a great deal of research before you settle on the product you want to buy. There are a lot of options out there as this trend takes hold.
10. Leather Furniture
Leather furniture has discovered a newfound popularity because it now comes in so many different shapes and colors. Leather is an old favorite, but now it has a new face.
American Leather is one of the leaders in leather furniture, but other manufacturers offer plenty of choices as well. Leather is easy to maintain and to clean. It retains its appeal much longer than fabric. One downside is that some stores offer bi-cast leather, also known as by-cast leather. This is not leather. This wouldn’t be so bad if they didn’t classify it as such, but it can be misleading for consumers.
NTY Franchise Makes the 2016 Fast 50 List
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:
We Asked Chief Operating Officer Chad Olson:
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:
Fast 50 2016 Editor’s Note
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.
Local Blogger Stocks Up at Clothes Mentor Springfield
Fashion of Philly blogger finds amazing outfits for a fraction of the original retail cost at upscale resale store Clothes Mentor Springfield. Check out one ensemble from her haul below, then read the full blog post at fashionofphilly.com to see more.
When it comes to Fall Fashion, what is your favorite item to stock up on? Are you obsessed with oversized sweaters, knee high boots and comfy leggings? Well I have good news, I found the cure for your fall shopping fever! Clothes Mentor is an amazing consignment shop featuring some of your favorite designers at price points you wouldn’t believe! The Clothes Mentor store in Springfield, PA invited me to come and check out their huge selection of clothing, jewelry, accessories, and shoes. The staff there was so nice and ready to help in any way, whether it be selling your “gently used” clothing or some styling advice…
