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:

2016 Fast 50 logo

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.

Ron and Chad for Fast 50 article
Photo by Nancy Kuehn and courtesy MSPBJ; Chad Olson (left) and Ron Olson (right).

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.

Click here to see the full letter on bizjournals.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.