I pulled the trigger on a business today

[Hellgate]

After many months of research, work, worry and sleepless nights I've decided to open a new to Austin franchise. I can't release the name business as of yet, but the machine has sprung into action. What I can say at this point is it's a graphic communication, manufacturing company.

Instead of starting from scratch I've made the decision to buy and existing business and convert it to the franchise. The franchisor I'm working with is one of the few who uses this method. The benefit is you buy a book of business, equipment, experianced employees, space and most importantly, cash follow. Also there a excellent deals that can be made with owner financing instead of borrowing all of the required working capital

I'm really excited and looking forward to getting the shop set up and running. :thumbup:

Oh, and it feels good to be "the man" instead of working for "the man".

 

[davidsa1]

Cool deal! Hope all goes well fou you.:thumbup:

 

[jsw4178]

After many months of research, work, worry and sleepless nights I've decided to open a new to Austin franchise. I can't release the name business as of yet, but the machine has sprung into action. What I can say at this point is it's a graphic communication, manufacturing company.

Instead of starting from scratch I've made the decision to buy and existing business and convert it to the franchise. The franchisor I'm working with is one of the few who uses this method. The benefit is you buy a book of business, equipment, experianced employees, space and most importantly, cash follow. Also there a excellent deals that can be made with owner financing instead of borrowing all of the required working capital

I'm really excited and looking forward to getting the shop set up and running. :thumbup:

Oh, and it feels good to be "the man" instead of working for "the man".

New Bike, New Business, Sounds Like You Are On Top Of The World !
:thumbup::rockon:

 

[reiobard]

comgratulations! I hope it works out for you... I also hope that you can make us some toys for the FZ with your manufacturing company :rockon:

 

[Botch]

Good luck, HellGate! I've always admired folks who put it all on the line and try to make it for themselves; I've never had the courage. :thumbup::thumbup::thumbup:

 

[rider1a]

After many months of research, work, worry and sleepless nights I've decided to open a new to Austin franchise. I can't release the name business as of yet, but the machine has sprung into action. What I can say at this point is it's a graphic communication, manufacturing company.

When I hear this, I think of Kinko's or another printed media company like Whitley Printing. Your new business venture sounds interesting. I have a few questions though:

1. Do you get prospects or potential customer referrals from the parent company?

2. Who pays for advertising or is it a shared expense with another partner and or the parent company? (sometimes start-ups underestimate the amount of money required to reach a critical level of positive growth)

3. Do you have enough cash-flow to exist for 6-12 months as the local Texas economy begins to feel more of the effects of the global recession?

4. Do you and or your management team have extensive experience is this industry?

5. What benefits and or features will your new company offer that is not being served by the other companies in your industry or sector?

I wish you best of luck in this really tough economic environment, although Austin is doing better on a relative basis than the rest of the country.

 

[pooty]

we know you will do great. good to use other peoples money. good luck and keep us informed

 

[keira]

best of luck in your new venture!

 

[wrightme43]

Rock on Pete. I am sure you will do well. You have a good head on your shoulders, and experince leading people.
Congratulations.

 

[ANLR21]

Good luck!! It's a huge step, but we're pulling for ya

:thumbup:

 

[Cali rider]

With all sincerity, I wish you success, not luck. It takes great courage and resolve to strike out on your own in these challenging conditions.

 

[buccs40oz]

Good luck boss

 

[Fred]

Excellent Pete. I had the feeling that you were brewing up something. I hope it goes well for you.

And come June, let me know if you're hiring.

Fred

 

[mpb218]

Congrats man!

Austin huh? I hear you can ride year round there.... need an engineer? hhaha

Wish you the best, kick some ass!

 

[LERecords]

congrats man.. let us know how it works out

 

[tom5796]

All the best Pete! It takes metaphorical cajones to do what you're doing. :thumbup:

 

[Stumbles06]

Good luck in your Venture Pete.

Hope it all goes well, and best of luck to you mate. :thumbup:

 

[Hellgate]

When I hear this, I think of Kinko's or another printed media company like Whitley Printing. Your new business venture sounds interesting. I have a few questions though:

Not printing but in the family.

1. Do you get prospects or potential customer referrals from the parent company?

Not directly, but by buying an existing business customers and cash flow come with it. The parent maketing team does extensive market analysis to help target potenial customers. The business is primarily B2B so professional associations are good place to begin.

My primary roll will be marketing and selling vs. production; ie: "the face" of the Company

2. Who pays for advertising or is it a shared expense with another partner and or the parent company? (sometimes start-ups underestimate the amount of money required to reach a critical level of positive growth)

2% royality goes into the overall parent co fund. This is use for branding, and marketing program development. This is not a Company that would be advertised on TV so the marketing is tactical and focused. My initial franchise fees goes to Corp for the acquisition process which includes some marketing.

3. Do you have enough cash-flow to exist for 6-12 months as the local Texas economy begins to feel more of the effects of the global recession?

yes. Again aquiring an existing business jumpstarts the whole process

4. Do you and or your management team have extensive experience is this industry?

I do, from 25 years ago, production and installation and a BFA in the parent disipline. I also have 20 years of management experiance from retail, the classroom, Fortune 500 executive and line Combat. I am prepared. We will also negotiate with the seller that they stay on for a three to six month period during the transition for knowledge transfer. This also helps keep them from taking customers with them. Also I will be keeping the employees, as long as my production manager is compotent they will stay if they wish.

5. What benefits and or features will your new company offer that is not being served by the other companies in your industry or sector?

Number one, customer service and a job done correctly the first time, on time and to budget.

I wish you best of luck in this really tough economic environment, although Austin is doing better on a relative basis than the rest of the country.

I look at the current economic situation as opportunity. My cost basis is much lower now that doing this during an up swing. Remember Austin in '99 and '00? It was almost impossible to get a plumber and cost of everything was crazy. Now the environment is the exact opposite. Now is the time to drive forward while other businesses are holding back, now is the time to grab market share to position for an up turn in a year or so.

Excellent questions, thanks for asking them. :thumbup:

 

[ender]

Good answers. Best wishes. Remember to breathe and ride occasionally.:thumbup:

 

[Smittyboy]

If you'll need any sociology/crim justice grads in a year or so lemme know... Both well wishes and congrats on opening your own business! Look forward to more details when they're not "G14" classified...

Maybe could use me for security...? I'm pretty big...lol