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.