Franchisingisthekindofabusinessmodelthathascreatedastirinthismodernworld.And
whynot!Withmultiplebenefits,itisoneofthebusinessesthatwithafixedmodulecan alsogenerategoodrevenue.Andtostartwithitall,franchisingisalsoabusinessmodule thatcanbemuchsaferandlessrisky.Itisunlessthefranchisordecidedtochooseadifferent structure.
Andforthosewithahungertogrow,boththefranchisorandthefranchisee,thisprovestobethe bestbusiness,asitguaranteesgrowthineveryaspect.
FeaturingforTheEnterpriseWorld’sthisissueofTheBestFranchisestoBuyin2023arethe storiesofsuchfranchisors,whohavehelpedandinspiredmanytostartabusiness.
Forthecoverstory,readabout-
BooXkeepingFranchiseisanopportunitytoownabookkeepingbusinessthatmaximizes profitabilitybycreatinganetworkofsmall-businesscustomersandofferingthemcomprehensive bookkeepingservicesatanaffordableprice.Itsflexiblebookkeepingfranchiseopportunity providesfranchiseeswithalltrainingandsupportandhelpsthembuildasuccessfulbusiness.
BooXkeepingFranchiseisnotthemostcommonfranchiseopportunitypeoplearelookingfor,so educatingpotentialcandidateswasthebiggestchallengeBooXkeepinghadtocopewith.However, theCOVID-19pandemicarrivedasablessingindisguiseforthecompany Thefactthatpeoplecan workremotely,anditwassafeandreliable,weresomeoftheonlyfewpositivescomingoutofthe pandemic.
AlloyPersonalTrainingCompanystartedoutwithaverystraightforwardphilosophy.Itwasto givepeoplepersonalizedtrainingforbetterresults.ThecompanywontheawardoftheAFSFitness BusinessofTheYearforitstremendousworkservingthousandsoffitnessfacilitiesworldwidewith millionsofmembers.
It'snotacoincidencethatAlloyprogramsareamongthemosteffectiveprogramsintheworld todayforhelpingpeoplewhowanttolookandfeeltheirabsolutebest.
ApricotLaneBoutiqueisanationalboutiqueretailconceptwhichhasrapidlymovedtothe forefrontoffashionboutiques,carryingunique,trend-rightfashionsandbrandedlabels.The boutiquesarestrategicallylocatedandoperatedinleadingcommercialdistricts,outdoorlifestyle centers,andretailstreetscapes,presentlyin31states.
This list is NOT a ranking. The companies on listed in magazine serve different aspects of the market, making ranking them in any order except revenue impossible and unfair. We try to bring a perfect platform for business organization to showcase their valued products/ services.
Forthecoverstory,readabout-
BooXkeepingFranchiseisanopportunitytoownabookkeepingbusiness thatmaximizesprofitabilitybycreatinganetworkofsmall-businesscustomers andofferingthemcomprehensivebookkeepingservicesatanaffordableprice. Itsflexiblebookkeepingfranchiseopportunityprovidesfranchiseeswithall trainingandsupportandhelpsthembuildasuccessfulbusiness.
BooXkeepingFranchiseisnotthemostcommonfranchiseopportunitypeople arelookingfor,soeducatingpotentialcandidateswasthebiggestchallenge BooXkeepinghadtocopewith.However,theCOVID-19pandemicarrivedas ablessingindisguiseforthecompany.Thefactthatpeoplecanworkremotely, anditwassafeandreliable,weresomeoftheonlyfewpositivescomingoutof thepandemic.
AlloyPersonalTrainingCompanystartedoutwithaverystraightforward philosophy.Itwastogivepeoplepersonalizedtrainingforbetterresults.The companywontheawardoftheAFSFitnessBusinessofTheYearforits tremendousworkservingthousandsoffitnessfacilitiesworldwidewith millionsofmembers.
It'snotacoincidencethatAlloyprogramsareamongthemosteffective programsintheworldtodayforhelpingpeoplewhowanttolookandfeeltheir absolutebest.
ApricotLaneBoutiqueisanationalboutiqueretailconceptwhichhas rapidlymovedtotheforefrontoffashionboutiques,carryingunique,trendrightfashionsandbrandedlabels.Theboutiquesarestrategicallylocatedand operatedinleadingcommercialdistricts,outdoorlifestylecenters,andretail streetscapes,presentlyin31states.
Althoughtheeraof
entrepreneurshiphasdawned, startingtheirownbusinessis stilladreamformany.Inthe ferociously-competitivemarket,itis difficultforleaderstostartand establishtheirbusinesses.Theconcept offranchising,inthesecases,has turnedouttobeablessingforsuch individualswhowanttostarttheirown businessesbutlacktheexpertiseand budgettodoso.
Thankstonumerousadvantagessuch ascontinuousassistance,increased brandrecognition,lowerfailurerates, built-incustomerbase,etc.,the franchiseindustryhasseensteep growthoverthepastfewyears.Asthe numberofopportunitiesisincreasing, thecompetitionamongbusinessesis alsogettingtougher.Excellingthe competition,BooXkeepingFranchise isaleadingfranchisortransformingthe bookkeepingindustrywitha contemporaryapproach.
AFranchiseOpportunitythatWorks
BooXkeepingFranchiseisan opportunitytoownabookkeeping businessthatmaximizesprofitability bycreatinganetworkofsmallbusinesscustomersandofferingthem comprehensivebookkeepingservices atanaffordableprice.Itsflexible bookkeepingfranchiseopportunity providesfranchiseeswithalltraining andsupportandhelpsthembuilda successfulbusiness.Herearesomeof theadvantagesBooXkeepingprovides.
Ÿ Flexibleforyourgoals:As franchiseescanstarttheirbusiness fromanywhere,owninga BooXkeepingfranchiseallows themthefreedomtogrowasfastas theywouldlikeandsetuptheir ownpace.
Ÿ LowStart-upInvestment: BooXkeepingfranchisecostsare
significantlylessthanmost franchisesduetolowinitialstaffing needsandtheabilitytooperatethe businessfromvirtuallyanywhere,
Ÿ ABrandtoCountOn:Unlike freelancebookkeepers, BooXkeepingfranchiseeshavethe advantagesofbeingbackedbya trustedbrand,built-inprocesses, and360-degreesupport.
Ÿ NoExperienceRequired: Franchiseesdonothavetohave bookkeepingexperienceorbea financialprofessionalaslongas theyhavegoodpeopleskillsand canfocusonbusinessdevelopment.
Ÿ HelpwithStaffingand Marketing:BooXkeepingprovides everythingfranchiseesneedtoget started,includingalocalonline presence,andlocalmarketing.Also, theFranchisorcanrecruit,trainand houseprofessionalaccountsto performtheday-to-day bookkeepingfunctions.Thisallows franchiseestoconcentratemoreon growth,andontakingtheir businessestothenextlevel.
Ÿ OutstandingTrainingand Support:BooXkeepingtreats franchiseeslikefamily.Itinvests heavilyinworld-classtraining,the latesttechnology,andreliable vendors,andprovidesunmatched ongoingsupporttoensureits partnersaresuccessful.
Ÿ TheCompetitiveEdge: BooXkeepingprovidesfranchisees withasignificantadvantageover otherbookkeepingopportunities, makingitagreatfitforawide varietyofentrepreneurswith uniquebackgrounds.
BookkeepingFranchiseisnotthemost commonfranchiseopportunitypeople
Withover12years ofexperience,we havepoliciesand proceduresfor everythingthat ourfranchisees mightfaceintheir businessjourney. Andeventhough manycompanies havethose,the trickistomakeit a‘living’document thatgetsupdated andimprovedona regularbasis.
arelookingfor,soeducatingpotential candidateswasthebiggestchallenge BooXkeepinghadtocopewith. However,theCOVID-19pandemic arrivedasablessingindisguiseforthe company Thefactthatpeoplecanwork remotely,anditwassafeandreliable, weresomeoftheonlyfewpositives comingoutofthepandemic.
Duringthepandemic,BooXkeeping witnessedasurgeindemandforboth remotebookkeepingandremote franchiseopportunities.Currently,with theslowdownintheeconomy,the companyisseeingevenhigherdemand frombusinessownerslookingto outsourceoverheadfunctionsaswellas frompeoplewholosttheircorporate jobstoownandoperatetheirown businesses.
AccordingtotheBooXkeeping2022 FranchiseDevelopmentDocument,1 unitofBooXkeepinghasanAverage GrossAnnualRevenueof$385,000 withanAverageGrossProfitof $178,000.MaxEmma(CEOof BooXkeepingFranchise,Inc.)attributes thecompany’ssuccesstoits culture—whichwasdevelopedalong timeagowhenBooXkeepingstarted,as manybusinessesdid,inagarage. EveryonewhojoinsBooXkeeping eitherasanemployeeorasafranchisee isalignedwithitsculture,ortheyall followseparateways.Herearethe valuesthatshowhowBooXkeepingis redefiningthebookkeepingindustry, usinghashtag#coolbeancounters:
Ÿ Webelieveinbeingcool
Ÿ Webelieveinacceptanceand support
Ÿ Webelieveinconstantgrowth
Ÿ Webelieveinpersonaland professionallivesfullyintegrating intothelife
“OurBooXkeepingTeamis notmyemployees,theyare family!Weareonthis journeytogether,andwhat wearedoingtogetherisnot TeamWORK,inmy opinion,itisTeamLIFE”
Ÿ OurBooXkeepersarecool!
Ÿ Ourfranchiseesarecooler!
Ÿ Ourclientsarethecoolest!
Ÿ Areyoureadytobecool?
BooXkeepingFranchisehelps franchiseesincreasebusiness scalabilityandsustainabilitybygiving themablueprintonhowtoruna successfulandprofitablebusiness.As asayinggoes,“Smartpeoplelearn fromtheirmistakes,andwisepeople learnfromsomeoneelse’s,” BooXkeepingsharesitsexperience withthefranchisees.Thisempowers themtolearnfromwhatthecompany wasdoingwrongwhenitdidnothave anybodytoleanonatthebeginningof itsbookkeepingjourney,andwhatit knowsasateamnow
Thecompanygivesitsfranchisees freedominmakingdecisions.While mostoftheotherbookkeeping franchisesmaketheirfranchiseesuse onlyoneaccountingsoftware, BooXkeepingtrainsitsfranchiseesin multipleoptionsandletsthempick andworkwithasmanyastheywould like. “Also, we listen to our franchisees—if they have an idea that can benefit them and the other franchisees, we welcome and encourage it!” addsMax.
BooXkeepingFranchiseisabrainchild ofMax,whoisleveraginghisavid experienceacrossdifferentindustries todrivethecompanyforward.Max receivedadegreeinFinanceafter immigratingtotheU.S.AfromEastern Europeover30yearsago.After gettingadegreeinFinance,heworked forQUALCOMMforabout4years beforeleavingthecompanytobecome anentrepreneur.
Initially,Maxjoinedhisfamily’s constructionbusiness,eventuallytaking itoverandgrowingitfrom3to96 employees.Afterwards,therecession hit,andthenewconstructionpractically stoppedinCalifornia.Tocopewiththe situation,Maxopenedalandscape maintenancecompany,whichhe successfullysoldafewyearslater.
In2011,MaxstartedBooXkeepingwith hisco-founderoutofagarage, eventuallygrowingtobecomea nationwideproviderofbookkeeping servicestovariousfranchisesystemsin theUS.Andrecentlytheideaofsharing knowledgeledtheduotostart BooXkeepingFranchise,whichisnow availablein38statesandtheUS Territories.
Talkingaboutthechallengesalonghis way,Maxsays, “When I had to shut down my construction business after years of success, I thought that it was the end of the world, something I would never be able to overcome.” Headds thatgettingoveritandhavingthe couragetomoveforwardwasthe biggestachievementofhis entrepreneurialjourney.Gettingthefirst bookkeepingclient12yearsago,and thensellingthefirstBooXkeeping FranchisewerethekeystonesinMax’s continuousandexcitingadventurewith BooXkeeping.
“TeamWORKTeamLIFE”
TalkingabouttheBooXkeeping employees,Maxsays, “The members of the BooXkeeping team are not my employees, they are family! We are on this journey together and what we are doing together is not teamWORK, in my opinion, it is teamLIFE.” At BooXkeeping,aBooXkeeperishighly encouragedtosharethoughts,feelings, growthchallengesandpleasures, personalandprofessionalpassions, concerns,ideas,andsuggestionswith peersandmanagement.
Whenaskedaboutapieceofadvicefor aspiringentrepreneurs,Maxmentioned thattherearealotofpeoplearoundus whoaremoreknowledgeablethanwe are,andtheyarewillingtohelp!
“Don’tbeafraidtoaskforhelp,askfor anadvice.Theultimatedecisiontodo somethingornotisours,andnoone else’s,however,itismucheasierto makeitwhenyouheardifferentpoint ofviews!”heconcludes.
“Mybusinesscoachhasrecentlytaught methattheroleofamanageristofix what’snotworking,whiletheroleofan entrepreneuristochallengewhatis working.I’mdefienetlyachallenger, alongwithmyteam,redefiningoneofthe oldestindustries.”
NewYorkCity!Justthename makeseyessparkle,dreams biggerandeverythingmuch merrier Withanoverwhelmingamount ofopportunities,toanartist,awriter,a banker,anengineer,younameitand NewYorkhassomethinginstorefor you!
Beforewediveintotheextravagant cultureofNewYork,letusfirst understand-
Whataresomegeographical featuresofNewYorkCity?
NewYorkCityislocatedononeofthe world'slargestnaturalharbors,which extendsintotheAtlanticOcean.It
What is the history of New York City?
17th Century New York
comprisesoffiveboroughs,eachof whichextendswitharespective countryofthestate.Thefiveboroughs are-
Ÿ BrooklynortheKingsCountry
Ÿ QueensortheQueensCountry
Ÿ ManhattanortheNewYork Country
Ÿ TheBronxorBronxCountryand
Ÿ StatenIslandortheRichmond Country
ThemetropolitanofNYCmakeupthe premiergatewayforanylegal immigrationtotheUnitedStates.The
vastmajorityofpeoplepouringinfrom overtheworldhavemadeNewYorka culturalcapital,withawhopping800 languagesspokeninthecity,akindof linguisticdiversitythat'shardtofind anywhereelse.
Thecityisahometomorethan3.2 millionresidentsbornoutsidethe UnitedStates.Asof2022,theNYC metropolitanareahadproducedan estimatedgrossmetropolitanproduct ofover$2.1trillion,toppingthelist worldwide.Withthisestimateinmind, thecityalsohousesthehighestnumber ofbillionairesandmillionairesofany cityintheworld.
The rst black slaves arrived, who played a major role in forming the colonies.
Giovanni da Verrazano discovered New York Harbor Henry Hudson sailed up the Hudson River The Dutch founded their rst permanent trading post Peter Minuit bought Manhattan from the Native Americans. A Wall was built to protect New Amsterdam, across Manhattan Island. The street next to it was call The Wall Street.18th Century New York
Bythistime,NewYorkhadalmostdoubleditspopulation,andthemainindustryinthecitywasthatofmilling.
The New York Gazette, the rst newspaper began its publication.
1732
1725
The rst theatre in New York was opened
19th Century New York
1754
1784
Kings College (Now Columbia University) was founded. The Bank of New York was founded.
1789
1792
George Washington took his presidential oath at Federal Hall. Trading in stocks and shares took place in and around Wall Street.
1820
The rst line of New York Subway was opened.
1826
New York became the largest city in the USA with a population of 123,000. Washington Square Park was created.
New York University was founded.
1831
1845
New York City Police Force was founded.
Madison Square was opened.
1847
1851
The New York Times began publication.
1904
1886
First telephones were installed in NYC
The Statue of Liberty was dedicated by President Grover Cleveland
1878
1872
Frederick Law Olmsted and Calvert Vaux created Central Park.
Bloomingda le's was founded.
1858
1858
Macy's was opened
WhatisthestorybehindTheStatue ofLiberty?
“We will not forget that Liberty has here made her home; nor shall her chosen altar be neglected."
—PresidentGroverCleveland, acceptingtheStatueofLibertyon behalfoftheU.S.,October28th,1886
TheStatueofLibertystandstallinthe UpperNewYorkBay,representingthe universalsymboloffreedom.The StatueofLibertywasoriginallygifted
byFrancetotheUSAasanemblemof strengtheningfriendship,andalsoasa staunchsignoftheirmutualwishfor liberty
Overthemanyyears,ithasevolved intosomuchmore.Itisalsoregarded astheMotherofExiles,whostands strong,welcomingthemillionsof immigrants,asanepitomeand embodimentofempathy,hopeand opportunityforeveryonewhoisin searchofabetterlifeintheUSA.
RepresentingthespiritofAmerica itself,thestatueexcitesthedesirefor freedominpeopleallovertheworld.
Hereareafewinterestingfactsabout TheStatueofLibertyyoudon'twantto missouton-
Ÿ TheStatueisinspiredbyaRoman Goddess,Libertas-goddessofliberty.
Ÿ LadyLibertyoriginallywasbrownin color,beingmadeoutofpurecopper However,after1900itbeganto developagreenpatinaduetothe oxidation.
Ÿ TheStatueofLibertyusedtobea lighthouseandguidedshipsinNew York'sharbor
Ÿ LadyLibertyhasbeenstruck600 timesbyalightningbolt,butnoneof theboltshavecausedanykindof severedamagetoit.
Ÿ ThecrownofLadyLibertybears7 spikeseachrepresentingtheseven oceansandcontinentsoftheworld.
TheWallStreet-What'stheStory behindtheChargingBull?
TheChargingBullortheBigBullon theWallStreethastodaybecomethe universalsymboloftheAmerican stockmarketanditsbigbusiness.Itis alsooneofthemostvisitedand popularsightsinthecity.Touristspour infromaroundtheworldtoseethis bronzebeast.
TheChargingBullsculpturewas createdbyanItalian-Americanartist, ArturoDiModica.DiMonicacameto NYCinthe70s,andbeinginspiredby thecity'senergyheopenedastudioon
GrandStreetinthemoderndaySoHo.
DiMonicastartedworkingonthebull afterthestockmarketcrashof1987, wherehefeltheowedsomethingtothe Americansforsograciouslyaccepting himandsupportinghiscareerasa sculptor.
Hepaidawhoppingsumof$360,000 ofhisownmoneytobuildthe ChargingBull.WiththeChargingBull, hewantedtoinspirepeopletocarry throughhardtimesandcelebratethe consistencyandperseveranceofan Americanbusinessprofessional.He chosethebulltorepresenttherising marketandathrivingeconomy,which everybodywasfightingforafterthe bigcrash.
WhatistheBestTimetoVisitthe Bull?
Unliketheothermonumentsofthecity, forexampletheStatueofLiberty, ChargingBulldoesnothaveanytickets andhasano-costadmission.TheBull standsinthemiddleofthestreet,soyou canveryeasilyvisititanytimeofthe day
Bymid-day,youcanfinddozensof peoplelinedupinfrontforasnap.So,if youwanttogazeattheBullwithout anyonepesteringtomovealong,you willhavetoshowupearlyinthe morning.
ATraveler'sTip-
Wintercanbeagoodtimetovisitthe Bull.Owingtothesnowy,chillydays youcanfindfewerpeoplearound.And ifyouarelucky,youcanalsofindthe Bullcoveredinablanketofsnow!
AlwaysToppingtheLists-
HereiswhyNewYorkCityisalways onthe'TopCitiestoLiveIn'listsIt'sDiversity
NewYorkisregardedasoneofthemost diversecitiesintheworld.Thecityis alsosometimesreferredtoasThe MeltingPotbecauseofthenumberof immigrantsmovingherefromaround theworld.
Itsdiversityiseasilyreflectedinits food,art,music,cultureandthe neighborhoods.
HereisafunthingtodoinNYC-
YoucanvisittheTenementMuseumand exploreNYC'simmigrationhistory.You willbeabletovisitthe19thcentury tenementbuildingandlistentothe storiesoffamiliesthatlivedthere.
TheDeliciousFood
Youask'WhyisNewYorksofamous?'
Theanswerisincompletewithoutatour tothelocalculinaryculture.
NYSisafoodie'sparadise,mostly becauseofitsgloballyinspiredcuisine andalsoaheavyinfluencebymany culturesofthecity.
WonderingwhatfoodNYCisfamous for?SomeofNewYork'smostfamous foodsincludetheclassicslikethatof NewYorkbagels,NewYorkpizza,and theNewYorkcheesecake.
Becauseofitsmulticulturalnature,it alsohousesauthenticcuisinesacross theglobe.Tonameasingleplacetotry amazingdisheswouldbehard,butyou canvisittheQueensNightMarketin Queens.Inthisopen-airweekend market,youcantryfoodfrommore than100localvendors.
Smorgasburgisanotherweekend marketgenerallyfoundinBrooklyn, Manhattanandafewotherplaces.If youareinthemoodtocruisearound, enjoybeautifulsceneryoftheNew YorkCity,whileenjoyingPhilly cheesesteaks,Chinesebaobuns, Filipinostreetfood,Indonesianrice bowlsandsomuchmore,The Williamsburglocationwouldsuityou thebest.
NewYorkisalsofamousforsomeof thebestandthemostuniquerestaurants intheworld.LikeCaféSerai,where youcantastetheReubenMomos,the traditionalTibetandumplingswitha NewYorktwisttotopitoff.
Therealsoareanumberoffoodtoursin NYCwhereyoucanbeanaudienceto thestoriesofdifferentneighborhoods throughfood.Someoftheminclude-
Ÿ NYCGreenwichVillageItalian FoodTour
Ÿ NewYorkCityLowerEastSide Culture&FoodTastingsTour
Ÿ Chinatown&LittleItalyFoodFest
TheMuseumsofNewYork
NewYorkhostssomeamazingand world-classmuseumsandmanyof themhaveafreeentry.
Ÿ MetropolitanMuseumofArt
Ÿ AmericanMuseumofNatural History
Ÿ MuseumofModernArt
Ÿ WhitneyMuseumofAmerican Artand
Ÿ GuggenheimMuseum
Thesemuseumshavethemost impressiveandawesomecollections ofartandotherhistoricalartifacts.
Broadway-ACelebrationofArt
OneofthemainreasonswhyNew Yorkissofamousistheincredible showsonBroadway!
NewYork,withtheculturallyrich anddiversevisualandperforming artsscene,isthemostcelebrated destinationsfortheatreglobally. Broadway'sstageshaveheld countlessplaysandmusicalsand someofthebestperformershave gracedthestage.
Here'satipifyoulovetoursdearlyYoucanbookaBroadwayTheaters &TimesSquarewithaTheater Professionalexcursionanddivedeep intothehistoryandcultureof Broadway.
TheExtravagantHolidays
Therearejustafewothercitiesin theUnitedStatesthatgoalloutto celebratetheholidaysasNewYork.
ThanksgivinginNewYorkCityisa bigfestival.Macy'sThanksgiving DayParadeservesasanunofficial starttotheholidayseason,andthe tinkerlightscomeoutdecoratingthe
citywithwidesmilesandahappy spirit.
Andthencomesthebiggestfestivalof thecity-Christmas.Wehaveall watchedHomeAlone-LostinNew Yorkamilliontimesduringthe holidays,andhavebeenmesmerizedby thebeautyofthecity.Itissomething yousimplycan'tmiss.Thebeautiful windowdisplays,eventsinthecity, decorations,everylittlethingtakesthe atmospheretoanotherlevel.Watchthe cityturnintoatruewinterwonderland aroundChristmas.
Amoderncitywithbusybrokersand aspiringstudents,youwouldthinkitis hardtofindtimetositandappreciatea beautifulbuilding.Buttheglass skyscrapers,silhouettesofsomeofthe mosticonicbuildingsliketheEmpire StateBuildingandtheChrysler BuildingmakeforNewYork's impressiveandstrikingskyline.
Ifyouwanttogetmoreknowledge aboutthecity'sarchitecture,youcan considerthefollowingtours-
Ÿ NewYorkCityarchitecturetour
Ÿ NewYorkDowntownArchitecture audiotour
Ÿ FlatironFood,Architecture& HistoryTour
Youcanalsolookoutforthe ManhattanArchitectureYachtCruise. Onthisspecialtouryoucansipon wineandbeersittingina1920s-style yachtandlistentothenarrationfrom theAmericanInstituteofArchitects (AIA).Thisisoneofthebestandmost soughtafterManhattanskylinetours available.
NewYorkishometoincredible culturalinstitutions,hasmesmerizing
artmuseumsandthefamous BroadwayTheater.Butitslegacyofa vibrantculturegoesevenfurther
NYCisalsofamousforahappening musicscene.Fromthefunkyuptown jazzclubstothepopulardowntown punkmusichistory,NewYorkhas beenknowntobeamusichub.
Addingtothat,thecityisalsooneof thefashioncapitalsoftheworld,with itsfashionrootsdatingbacktothe 19thcentury Today,thefashionscene ofNewYorkhasevolved,wherethe cityisahosttotopannualFashion
Weeks,andalsoholdssomeof themostfamousfashiondesigner andretailerheadquartersthan anyotherUScity
Thecity'shardandfastlifestyle andthebittersweetnaturehas beenaninspirationforcountless books,movies,anditisalso amongthemostfilmedcitiesin theworld.
Ifyou'reanentrepreneurialfitness enthusiastseekingaproven businessmodelthatworksalong withchanginglives,AlloyPersonal TrainingFranchiseiswhatyoumight want.
Thereishugeopportunityfor entrepreneurstohavetheirown successfulfitnessbusiness,andAlloy Franchisewouldmakeiteasyforyou tomakeanimpactonyourcommunity andyourfuturewithyourown branded,brick-and-mortarAlloy personaltrainingfranchiselocation.
FeaturingforTheEnterpriseWorld's thisissueofTheBestFranchisesto Buyin2023isAlloyPersonalTraining Franchise.
TheCompanyAlloyPersonalTrainingCompany startedoutwithaverystraightforward philosophy.Itwastogivepeople personalizedtrainingforbetterresults. Thecompanywontheawardofthe AFSFitnessBusinessofTheYearfor itstremendousworkservingthousands offitnessfacilitiesworldwidewith millionsofmembers.
It'snotacoincidencethatAlloy programsareamongthemosteffective programsintheworldtodayfor helpingpeoplewhowanttolookand feeltheirabsolutebest.
Thecompanyhasestablishedeffective fitnessprogramsandbusiness managementsolutionsthatdeliver resultsallovertheglobe.Inaddition, theFranchisealsogivesfranchiseesa chancetoimpacttheircommunityand futurewithabranded,brick-andmortarAlloyPersonalTraining franchiselocation.
Overthepastfewdecades,aspeople becomemoreawareoftheirneedtobe fittoavoidchronicdiseases,The demandforfitnessservicesintheUS
hasgrownsignificantly.Withabout 174millionclubsspreadalloverthe world,Thehealthclubindustryis worthmorethan$96billion,according toStatista.
Franchisingisagreatbusinessmodel thatenablespeopletogetintotheir ownbusinesswhilerelyingonthe experienceandtoolsofexpertslike thoseatAlloy.Researchshowspeople arehappierandmorefulfilledwhen theyareinbusinessforthemselves. Franchisingcanhelppeopleachieve thosegoalswithlessrisk.
TheAlloyFranchisebusinessmodel preparesfranchisees,owners,and operatorstobereadyforthefitness industry'sresurgence.TheAlloy franchisemodelallowsittobean outstandingexampleforthefuture fitnessindustry
Themodelisbasedoncapacityand keepingasafe,healthy,andefficient environmentforclients.The underlyingshortandlong-termtrends supportAlloy'sgrowthproposition. Moreimportantly,theiruniteconomics setsthemapart.
Whenevaluatinganybusiness opportunity,customerretentionand lifetimevalue,profitmargin,andthe ratioofinvestmenttorevenuesare importantmetricstoconsider Alloy's retentionratesandrevenuesper memberaresomeofthehighestinthe industry,andourstartupinvestment requirementsarequitereasonable.
DifficultiesattheStart: RickMayo,CEOofAlloyPersonal TrainingFranchise,hasbeenaroundin thefitnessspacefornearly30years.
Hesoonrealizedthatitwasn'tpossible todevelopthebrandtoitsfullpotential withoutofferingacompletesolution.
Franchisingallowedthemtohelptheir businesspartnersmuchmore effectively.TheteamatAlloycan supplytheentirebusinessmodelfrom build-outdesignthroughequipment, fitnessoperations,marketing, specifications,andmore.
In2010,MayostartedAlloy
Itscustomizedclientprograms, businesssystems,andtechnology toolsgrewtoserveover2,000 licensedexistinggymandfitness facilitiesworldwide.
Mayoshiftedfromthelicensing modelandlaunchedtheAlloy PersonalTrainingfranchisein 2019.Thischangeofstrategy enabledAlloytodeliveraturnkey franchiseopportunity encompassingtheentirepersonal trainingbusinessmodelfrom build-outdesign,equipment,
businesssystems,technology platforms,andmarketingunderthe Alloybrand.
TheAlloyfranchisemanagementteam takesthesameamountofpridein traininganewpersonaltraining franchiseownerastheydooneofour personaltrainingclubmembers.
In2019heandtheAlloybrandwere awardedFitnessBusinessoftheYear bytheAssociationofFitnessStudios. Thispersonalizationaspectis especiallycriticalwhenweconsider
thefutureofthefitnessindustry As peoplemigratetogymsandboutique studioswithvaryinggoals,injuries, priorities,anddesires.
Thegymsthatcatertopeople's personalizedandspecificdesireswill continuetogrowintheupcoming years.
"Thename'Alloy'wascreatedunder thenotionofstrengthandmotion meeting;thosetwothingscoming togethertocreatesomethingbigger, stronger,andlonger-lasting,"says founderRickMayo.“Overthepast fewyears,hekeptaskinghimself-how ourteamandbrandcoulddomoreto meetourmission;theanswerbecame clear,weneededtocreateatotal solution.”
Itwasin2018thatRickandtheteam atAlloydecidedthatmovingintoa franchisemodelwastheanswerthey sought.
“We know a formula that works, and that is a key ingredient to a successful franchise.”
Untilnow,gymoperatorspickedand chosethepartsoftheAlloysystems theyneededtofillingapsintheir personaltrainingprograms.Alloy helpsthembuildfromthegroundup, andtheycanprovidetotalsupportfor theirsystems,asproveninthousands ofgymsworldwide.
Overtheyears,Alloy'sprogramshave beenpoweringavarietyofgym locationsandfitnesssystems, providingAlloytrainingandtoolsto clubsacrosstheglobe.Theirbest practicesarerefined,andsystemsare time-tested.Theircommitmentis unmitigated.
Alloyhas:
Ÿ Asuperiorpersonaltraining system,withmostsessionsata coach-to-clientratioof1:6orless.
Ÿ Aconceptknownforgetting optimalresultsintheleastamount oftimeforpeopleofallages, abilitylevels,orinjuryhistories.
Ÿ Customizedworkoutplansthat changewitheachclientvisitto providemaximumvariety;no workoutiseverrepeatedtwice.
Ÿ Trackingtoolstomonitoreach client'sworkoutfrequencyand intensitytotrackprogresstoward establishedgoals.
Ÿ Accountabilityappointmentsare includedwithmembership,plus additionalmotivationandguidance.
Ÿ Alloyisunique.Thefirst-ever personaltrainingcenter
Ÿ AmongtheHighestretentionrate intheindustry
Ÿ Establishedbrand:Alloyhasbeen inbusinesssince1992andhashad over2,000white-labellicensing agreements.
Ÿ Loyalcustomerbase:Alloy deliverstheaccountability customersneedwhileprovidinga betterfitnessexperiencethat improvesloyalty
ProductsandServices:
Alloy'sfitnessprogramwascreated aroundaverysimpleconcept:people whoreceivepersonalizedcoachingget betterresults.
Today,Alloyprogramsareamongthe mosteffectiveprogramsintheworld forhelpingpeoplewhowanttolook andfeeltheirabsolutebest.Teamed withexercisephysiologists,anonsite DoctorofPhysicalTherapy,a registereddietician,andotheradvisory boardbehavioralspecialists,andwith ampleexperiencebringingfitness educationandtrainingsystemsto marketsaroundtheworldandwith speakingengagementsatcountless industryevents,wehavecreateda programwherecutting-edgescience meetsreal,in-the-trenchesexperience.
ThereinliestheAlloymagicformula forworld-classfitnessprogramming.
Arealadvantageforaperson interestedingettinginvolvedinfitness andpersonaltrainingisidentifyinga conceptlikeAlloy,whichhasfigured outaprovenniche.Byofferinga turnkeypackage,wecanhelp entrepreneursrealizetheirdreamsand reducetheirrisk.Thatisoneofthe greatadvantagesoffranchisingin general.
TheRoadAhead-
Alloy'sexperienceintheiroriginal locationinAlpharetta,Georgia, combinedwiththeirworkwithso manyfitnessprofessionals,hasled themtodefineaveryspecificstrategy thattheyhavebeenbuildingonfora longtime.We'dliketothinkweknow aformulathatworks,andthatisakey ingredienttoasuccessfulfranchise.
“Knowing the formula that works is a key ingredient to a successful franchise.”
Ÿ TargetsUnderservedCustomer Demographic-
Alloy'scustomertargetmarketisa populationthathasbeenunderserved. Theircustomeravatarislikewhata one-on-onepersonaltrainingbusiness mighttargetaround45to65yearsold.
Traditionally45to65holdmore discretionaryincome.Mostfitness specialtyboutiques,largehealthclubs, andgroupfitnessclass-basedprograms target30-year-oldsandalargernumber ofmembers.
Afterthepandemic,therewasa resurgenceofpeoplewantingtoreturn toin-personfitnessworkoutsinasafe environmentratherthanworkingout remotely.Peoplewantsocialization again.
So,thebrick-and-mortarfitness conceptisevolvingwithbrandslike Alloy,wheresmallgroupsofpeople traininasmallerfacilityallowing clientstoworkoutwithfewerpeople inasafeandcleanenvironment.
Overthelast30years,Alloyscaled theirfitnessbusinessmodelbymaking personaltrainingmoreaffordablewith small-grouptraining.Currently,Alloy hasaratioof1coachto6clients.
Alloy'saveragemembershipisabout $30persmallgrouptrainingsessionor around$300amonth.Butifyoulook attheirpriceof$30asession comparedtotheone-on-onepersonal
trainingpriceof$80-$100persession, theyareagoodvaluefortheirtarget customer.
Typically,largefitnessclubshave thousandsofmembersthattheyneed tomaintainthelargefacilityand staffing.Alargenumberofmembers andlargerfitnessclassesenableto keepthecostofthemembershiplower, butdon'tofferthepersonalized training,attention,andaccountability thatanAlloywouldprovide.
Alloyclientsstickaroundlonger, whichresultsinAlloyhavingoneof thehighestretentionratesinthe industry.Theaveragememberstays aroundlongerthaninanyotherfitness model.
Theircustomeraveragestayisaround 36months.Ifyoutaketheaverage membershipof$300amonth,that'sa $10,800lifetimevalueforthat customer.
Alloyisover10timesthelifetime valueofaclass-basedboutiquebrand orabig-boxhealthclub.Thereisalot ofturnoverinfitnessclubs,andthey constantlychurnmemberswhile needingtobringnewmembersintothe facility
Alloysupportsfranchiseeswitha betterratioofbusinesscoachestoeach owneroroperator.Alloydidn'tthink thatthetypicalratioofinthefranchise businessis80:1(80franchiseestoone franchisebusinesscoach)inthe
franchisebusinesswouldbeenough,so theyoffera30:1ratio(30franchisees toonefranchisebusinesscoach).
Ÿ HigherRevenuePerSquareFoot
Alloy'sbusinessmodel,developed withsmallgrouppersonaltraining, increasedthebusinessmarginstobe oneofthehighestrevenuepersquare footfacilitiesinthecountry
Originally,Alloystartedasaone-ononepersonaltrainingbusiness.After theyswitchedtosmallgrouppersonal training,otherfitnessfacilitieswanted ourconsultingguidancetolearnour retentionandrevenuesecret. Thenotherbusinesseswantedtobuy intotheirsalesprograms,operations, systems,andfitnessprograms,andthat iswhytheystartedlicensingtheir businessmodel.
Alloypivotedtofranchisingin2020. In2022,theynowhaveover50 franchisesawardedbecauseoftheir successwithauniquefranchise businessmodel.
Ÿ ScalableBusinessModel
Alloy'sfranchiseconceptwiththe targetclientallowedthemtomakethe modelscalable.Theyhavemany franchiseesowningmultiplelocations becauseitisscalable,allowingfor economiesofscale.
Alloy'sfranchiseconcept,training,and supportallowanownertobeconfident andprofitable,withamanagerrunning day-to-dayoperationsateachfacility whiletheyrunmultiplelocations.
Ricksays,thekeystosuccessasan entrepreneuraremany,butthemost importantaretenacityandknowledge. AsthegreatThomasEdisonwas quotedassaying,“Manyoflife's failuresarepeoplewhodidnotrealize howclosetheyweretosuccesswhen theygaveup.”Greatentrepreneurs nevergiveup.
Astoknowledge,thatiswhat franchisingrepresents,thechanceto benefitfromothers'knowledgeand experiences.ThefamousengineerW. EdwardsDemingoncesaid,“Itisnot enoughtodoyourbest;youmust knowwhattodoandthendoyour best.”Knowingexactlywhattodois asimportantasnevergivingup,said RickMayo.
Formorethanadecade,
Microsofthasbeenthemarket leaderinoperatingsystems.It wasestablishedbyBillGatesandPaul AlleninAlbuquerque,NewMexico,in 1975,46yearsago,andiscurrently flourishingallovertheworld.Inthe 2020Fortune500listofthemost significantUScompanies,Microsoft cameinatnumber21.Itisvaluedas thethird-highestglobalbrand.The businessisadigitaloperatingsystems leader
OnApril4,1975,BillGatesandPaul AllenestablishedMicrosoftinorderto createandmarketBASICinterpreters fortheAltair8800.Inthemiddleofthe 1980s,MS-DOSandthenWindows propelledittothetopofthemarketfor personalcomputeroperatingsystems. Threepeoplebecamebillionaires thankstoMicrosoft's1986initialpublic offering(IPO)andsubsequentincrease inshareprice,whileanestimated
12,000Microsoftemployeesbecame millionaires.Sincethe1990s,ithas movedfromtheoperatingsystem industryandacquiredanumberof businesses.Theirgreatestacquisition wasLinkedInfor$26.2billionin December2016,whichwasfollowed bySkypeTechnologiesfor$8.5billion inMay2011.
In2018,Microsoftrecaptureditstitleas themostvaluablepubliclytraded businessintheworldafterbeing dethronedbyApplein2010.After AppleandAmazon,Microsoftbecame thethirdAmericanpublicfirmtohavea marketcapof$1trillionormorewhen itdidsoinApril2019.Microsoftwill havethefourth-highestworldwide brandvaluationasof2022.
Microsoftisadailyandregularword usedineverycorporatesector The
globalproductisownedbyMicrosoft CorporationbasedinAmericaisa multinationaltechnologycorporation. Theassociatedservicesheadquarters aresituatedatMicrosoftRedmond campusinRedmond,Washington, UnitedStates.Thebestproductsof MicrosoftaretheWindowsseriesof operatingsystems,themicrosoft officesuiteandinternetexplorer,etc. TheXboxvideogamingconsolesand theMicrosoftSurfacerangeof touchscreenpersonalPCsareitstwo mainhardwareofferings.Microsoft wastheworld'slargestsoftware companybyrevenueasof2019;it wasplacedNo.21intheFortune500 rankingsofthelargestAmerican firmsbytotalrevenuein2020.Along withAlphabet,Amazon,Apple,and Meta,itisoneoftheBigFive Americantechnologicalfirms.The journeyofMicrosoftkickstartedwith abasicsetup.
The current global venture was founded by Bill Gates and Paul Allen on 4th April 1975 with the main motive to produce and sell BASIC interpreters for the Altair 8800.
As a result of an arrangement the company made with ASCII Magazine in Japan in August 1977, ASCII Microsoft opened its rst overseas ofce.
In the middle of the 1980s, MS-DOS and then Windows propelled it to the top of the market for personal computer operating systems.
Since the 1990s, it has moved from the operating system industry and acquired a number of businesses.
Microsoft started to reevaluate its products and broaden its product line into computer networking and the World Wide Web after Bill Gates' internal "Internet Tidal Wave letter" on May 26, 1995.
Microsoft released Windows XP on October 25, 2001, combining the NT codebase with the mainstream OS line. Later that year, the company introduced the Xbox, breaking into the Sony and Nintendodominated market for video game consoles.
Microsoft, which was becoming more active in the hardware market after the launching of Xbox, introduced the Zune line of digital media players in 2006 as the replacement to its earlier software platform Portable Media Center.
The Windows Vista released in 2007 featured the security and redesigned user interface dubbed Aero, following with the release of MS Ofce 2007 with the feature of Ribbon user interface.
Throughout the 2011-12 Microsoft restructured its identity with focusing on logo, products, services, etc.
Microsoft released a x for Windows 10 in January 2018 to address CPU issues brought on by Intel's Meltdown security aw. The patch caused problems with the virtual machines running on Microsoft Azure that use Intel's CPU architecture.
On June 24, 2021, Microsoft announced Windows 11.
ThegrowthofMicrosoftandits productsandservicesiswitnessed bythewholeworld.Inaninterview withMr.BillGatesmentionedthe growthofMicrosoftcreditingitto theirteam.
Microsoftbeingaglobalventure todayhasnoneedofany recognitionstrategyormarketing strategy Thecorporationbeingan InformationandTechnologybased corporationworksmostlyonits productsandservicesrelatedto databasesandsoftwares.The4Ps fromthemarketingmixworkson pointformicrosoft.The4Ps includesProduct,Price,Place, Promotion.
Aproductissomethingthatsatisfiesthe needsanddesiresoftheconsumer, whereasaproductmixisthevarietyof thatproduct.Microsoftisaretailerof bothhardwareandsoftware.Computers, laptops,tablets,Xbox,andphonesare amongtheirhardwaregoods.Microsoft OfficeandWindowsOSareamongtheir softwareproducts.Microsofthasabroad rangeofproducts.Itisprimarily renownedforits
Ÿ Devices
Ÿ Softwares
Ÿ Apps
Ÿ Games
Ÿ Entertainment
Pricemixisthemethodusedto determineaproduct'spriceasopposedto price,whichreferstothemonetaryvalue ofaproduct.Microsoftfrequently employstheBuyOnlyWhatYouUse, Freemium,andMarket-orientedpricing strategies.
Ÿ FreemiumPricing
Ÿ Productline
Ÿ PenetrationPricing
Ÿ PriceSkimming
UnderPriceMix,Microsoftprovides thefollowingservicestoitsclients:
Ÿ Customerscaneasilyselect productsandservicesfrom Microsoft'sofficialwebsitebased ontheirneeds.
Ÿ Microsoftoffersretaillocationsall overtheworldwherecustomers mayusetheguidanceoftechnical advisorstomakesmarterdecisions.
Ÿ Additionally,Microsofthas approveddealersanddistributors. Microsoft'sstrategicallysound locationmixmakesitsproducts readilyavailabletocustomers worldwide.Nowlet'stalkabout Microsoft'spromotionalstrategyto discoverhowitkeepsitspositionat thetop.
Withtheaidofitspowerfulbrand image,Microsoft'spromotionalstrategy preciselyaddressesitstargetmarket.It advertisesitsproductsonanumberof
Twitter,Google,Instagram,etc. Microsoftemploysanumberof differentpromotionalstrategies, includingadvertising,directmarketing, andsalespromotion.Itreachesits intendedaudiencethroughastrategic channel.Microsoft'svarietyof promotionsincludes-
Ÿ Advertising
Ÿ SalesPromotion
Ÿ DirectMarketing
Ÿ PersonalSelling
Ÿ PublicRelations
EffectofCOVID19onTheglobal enterprise-
Evenbeforethepandemic,scientists havelongponderedtheimplicationsof aworldinwhichreportingforworkno longermeantreportingforwork.Ifwe hadtheabilitytodisconnectfrom actuallocationsthankstocontemporary technology,howmightour employment,offices,andworkdays change?Whatwouldbethegenuine advantages?Whatwouldtheobstacles be?COVID-19thenstruck.Everything changedandbecameunpredictable fromabusinessstandpoint,butfroma researcher'spointofview,itoffereda hugeopportunity.Thiswastheperfect opportunityforsocialscientiststo
ofanentirelydigitalworkforce.
EarlyinMarch,justadayaftertheorder wasissuedforallemployeesat Microsoft'sRedmond,Washington headquarterstostayathome,scientistsat thecompanystartedthinkingaboutthe researchpossibilities.Thechiefscientist forMicrosoft'sExperiencesandDevices, JaimeTeevan,anddirectorofapplied scienceBrentHechtmetonlinewitha dozenothercolleaguestodiscusswhat hadjustoccurred,whatwasaboutto occur,andwhatitallmaysignify.Hecht assertsthatoneofMicrosoft'sadvantages isthestaffmembers'intensecuriosity.
Ofcourse,thebalancebetweenbenefits andlosseswasfarfromclear-cut.A significantminusforsomewasabonus forothers.Workingfromhomeandbeing freeofofficeinterruptionshadbeena blessingforsomepositions,butithad beendifficultformanagersand employeesinmorecollaborativefieldsto recreatethecreativefrenzyof brainstormingsessions.Nearlyevery benefit hasaconcomitantdrawback. However,acloserlookatthedatasofar offershelpfulinsightsthatmightnotonly guideusthroughthedifficultiesweare currentlyfacingbutalsoinfluencehow wemightthinkaboutmakingthings betteroncewearepermittedtoreturnto ourworkplaces.
Insummary,Microsoftisthemarket leaderbecauseofitsdominantworldwide presenceandleadership.Their welcoming“perfectcoffeeshop atmosphere”shouldbealong-term competitiveadvantage.Thecompany's retailoutletsandon-sitecollaborations haveearnedhigherresponserates, puttingtheminfrontofthepackinthe maturebusiness.Asaresultofitsallencompassingmarketingapproach, Microsoft enjoysastrongglobalmarket
Microsoft is among the most well-known brand brands in business. However, company cofounder Paul Allen originally gave the business the moniker Microsoft, which was a mix of the phrases ``microcomputer" and "software."
Gates planned to rename the original Windows operating system to "Interface Manager" when it was still being developed. The moniker was initially used exclusively internally, with intentions to continue using it when the OS was eventually made available to the general public.
Over the years, Microsoft has used a number of distinctive logos, all of which are instantly identiable. However, the original Microsoft logo was created in less than a day by co-founders Bill Gates and Paul Allen.
One of the company's most well-known software offerings is Microsoft Ofce, which includes favorites like Microsoft Word, Excel, and PowerPoint. Despite the obvious connection to Microsoft, some people would be surprised to learn that Microsoft Ofce rst appeared on the Mac before moving to Windows.
While the typical Microsoft employee may come to mind as a serious coder, they prefer the seriously adorable moniker "Softie." The average softie is a male American resident who works for a company with more than 180,000 people worldwide.
Fashiontrends,stylesand uniquenessisoneoftheimportant aspectsofone'spersonality Fashiontrendsisasegmentwhichgets revisedorchangedeverynowandthen leadingtovariousstyles,andinnovative ideas.Carryingatrendystylemakesaway moreimpressiveattituderatherthanbeing usual.Theselfconfidencetocarrythe outfitexpressesone'sattitudeandportrays aspectsofpersonality.Fashionhelpstoset abenchmarkonone'sheart.Whatever sectoritmaybe,stickingtothesame outdatedstylesdoesaffectanindividual's firstimpression.Manyofthefashion brandshaveevolvedsinceprevious decadesmakingfashionahighstandard thought.
Fashionisaformofself-expressionand autonomyataparticularperiodandplace andinaspecificcontext,ofclothing, footwear,lifestyle,accessories,makeup, hairstyle,andbodyposture.Theterm impliesalookdefinedbythefashion industryasthatwhichis trending Everythingthatisconsidered fashion is availableandpopularizedbythefashion system.
Giventheriseinmassproductionof commoditiesandclothingatlowerprices andglobalreach,sustainabilityhas becomeanurgentissueamongpoliticians, brands,andconsumers.
Thethoughtofcarryingoutafashion franchiseindustryiswhatisneededinthe 21stcentury.Asoutof100%,99%of peoplearethoughtfulabouttheirattires
andoutfits.ApricotLaneBoutiqueisa similarconceptcomprisingvarious franchisesinthenation.Thecompany consistsofitsboutiquepresently locatedin31states.Thecompany's Merchandiseservicegroupprovides franchiseessupportasestablishing vendorrelations,acquiringproducts, etc.thecompanyprovidesgreatservice toitscustomersaswellasvendorsto standoncustomersexpectations.
InthisinterviewwithPatrickStewart, CEOofApricotLane,weshallknow moreaboutthecompany'sgrowthand journey.
Briefusaboutthecompany,what inspiredyoutostartthecompany?
ApricotLaneBoutiqueisanational boutiqueretailconceptwhichhas rapidlymovedtotheforefrontof fashionboutiques,carryingunique, trend-rightfashionsandbranded labels.Theboutiquesarestrategically locatedandoperatedinleading commercialdistricts,outdoorlifestyle centers,andretailstreetscapes, presentlyin31states.Thecompany hasthebroadestgeographicfootprint inthefashionfranchiseindustry growingtoover120boutiquesbyyear end2022
Whataretheproductsorservices thecompanyfocuseson?Howare yourservicesdifferentfromthosein themarket?
Theparentcompany'sMerchandise ServicesGroupprovidesfranchisees supportinallaspectsofprocuring product,vendorrelations,and maintainsastrongpresenceintheLos Angelesfashiondistrictandinthekey apparelmarketsacrossthecountry ThemerchandiseineveryApricot LaneBoutiquedoesnotcomefroma large“corporateheadquartersbuy”but insteadiscuratedbytheindividual owner/franchisee.Thisallowstheir
productassortmenttobehighlyinsync withthetastesoftheirlocalcustomers.
Aconstantflowofnewnessiswhat customersreallywant.Inventoryis purchasedbyourfranchiseesinvery smallquantitieswiththeintentof sellingoutquickly.Many classificationsselloutinunder6 weeks.Whenthishappens,itisNOT replenishedwiththesamestyle,but insteadwithallNEWstyles,sotheir localcustomerwantstovisitwitheven greaterfrequencytoseewhat'snew... andbuyitbeforeitsellsout!
Pleasetellusaboutyourteam.
ApricotLaneBoutiqueheadquarters boastsarobustteamofretail professionalsthatprovidePre-Opening supportforthenewfranchiseebefore theyhaveopenedtheirnewboutique. The
supportiscompleteandincludes selectingtherightlocation,aligningon leaseterms,financing,construction guidance,fixtures,product,hiring,and more.
Afteropening,thereisanotherteamat ApricotLaneHeadquartersthat suppliesongoingboutiquesupportto thefranchiseetohelpthemmaximize thepotentialoftheirbusiness.
Pleasebriefusaboutyour professionalexperience.
PatrickStewart,CEO-Patrickis ALB'sleaderandhispassionishelping otherssucceed.Heisintenselyfocused onmeetingtheneedsoffranchisees, customers,communities,andstaff.An apparelretailveteranofover20years withsomeofthebiggestbrandsin retail,anentrepreneur,andahugefan oftest&learntocontinually
improve,he'sanavidbelieverthatyou shouldpursueyourdreams.Heisoften heardsaying,“Ifyoulovewhatyou're doingandputthecustomerfirst, successwillfollow”.
Whatarethekeyachievementsof yourbusinessjourney?
ApricotLaneBoutiquehasgrown quicklytobecomethe#1fashion franchiseforwomen.Nowwithmore than100locations,andover120by yearend,PatrickStewartsaysthe UnitedStates hasthepotentialforover1,000Apricot LaneBoutiquesbutforstrategic reasonstheyhavechosentolimit growthto60newlocationsannually forthenearfuture.
Areyouconsideringstartinga nonprofitorganization?While thiscanbeaveryrewarding endeavor,experienceinthebusiness worlddoesn’tnecessarilyprepareyoufor theseissues.
Understandingthissector’spotential trialsandtribulationswillprepareyoufor yourownNon-ProfitOrganizations journey.Sobeforeyougetstarted, Takealookatthesetop5challenges forNon-ProfitOrganizations:
1.AttractingQualifiedStaff(Paid& Unpaid)
NPOsbadlyneedtheservicesofpeople withdegreesinpsychologyandsocial work.Sadly,itcanbehardtoenticesuch graduatestoworkthere.Butwhile nonprofitorganizationsdon’tnecessarily offerthebest-payingMSWjobs,these postsarerewardinginotherways.
Thesenseofpersonalaccomplishment andofhelpingtomeetsociety’sneeds canbejustasenrichingasagreat remunerationpackage.Despitethis, attractingstaff(whetherpaidorunpaid) isoneofthebiggestchallengesanNonProfitOrganizationscanface.
Learninghowtoattracttoptalentcanbe asusefultoanNon-ProfitOrganizations asanybusiness.Whilethischallengeis noteasilyfixed,itwillbealotless dauntingwiththeservicesofaPR consultant.Anddon’toverlooktherole thatsocialmediajobboardscanplayin findingthestaffyouneed.
Thecorporateworldisnottheonly results-drivenenvironment.Itmaybe easytorallythepublicbehindyourcause onNationalNonprofitDay,buthowdo youfaretherestoftheyear?The pressuretoperformisjustasrealina nonprofitorganizationasinafor-profit one.
ThisaffectsanNPO’sabilityto consistentlyraisefunds,aswellasits reputationinthecommunity And unlesstheyareinaveryspecialized niche,mostNon-ProfitOrganizations causeshavestiffcompetition.This makesthepressurefromdonorsand othervestedintereststosucceed,even morecrucial.
Developabroaderviewofthe situation.Chancesare,you’llbeoneof manyorganizationsraisingawareness andfundsforaparticularcause. Ditchingthecompetitivespirit,and partneringwithlike-minded organizations,maybethekeyto addressingthisparticularchallenge.
Notonlyistheretremendouspressure toperform,butalsothedrivetomeet societaldemands.Non-Profit Organizationsleadersoftenfeel frustratedthattheyaren’tcopingwith meetingtheneedsoftheircommunity. Thisismoreaboutthepressurethey putonthemselvesthanoutside pressures.
Therewillalwaysbesomeformof injustice,orsomeneedinsociety,that you’llwanttodosomethingabout. Andwhilethiscanprovidegreat motivationtoraiseawareness,itcan alsoleadtoseverestressandeventual burnout.
Meetthischallengehead-on.Speakto atime-managementconsultantoralife coachaboutwaystodealwithselfimposedstress.Thiswillbenefitboth youandyourNon-ProfitOrganizations asawhole,inthelongterm.Being realisticaboutyourgoals,andnot tacklingmorethanonecampaignata time,willbringbetterresults.
Whentryingtoattractcorporate sponsorships,youcanconvince
companiesthatitwillboosttheir publicimage.But,itcanbeharderto convinceanaverageindividualtopart withtheirhard-earnedcash,letalonea corporation.
Fundraisingisvitaltothesuccessof anyNPO.Whetheryou’reworkingto addressanimalprotection,children’s welfare,orenvironmentalcauses, you’llneedmoneytomakea difference.Andnomatterifyourely onprivatedonations,corporate sponsorships,orgovernmentgrants,it takesalotofworktoorganize.
Thisiswheresomeonewithexperience andexpertiseinfundraisingor finances,ingeneral,ishelpful.The challengeofraisingadequatefundsfor anNon-ProfitOrganizationsisan ongoingone.Somakethenecessary investmentinlearninghowtodothis.
Althoughanonprofitorganizationis notprofit-drivenlikeother organizations,itstillneedsbusinesssavvypeopleatthehelm.Because,like allbusinesses,ithastoattracttop talent,processlotsofdata,andkeep financialrecords.ButmanyNon-Profit Organizations’slackthisbusiness know-how
Eventhoughtheymaybeexemptfrom payingincometaxes,Non-Profit Organizationsstillhavetofiletax returns.Soifyouareseriousabout makingyournonprofitorganizationa success,considerenlistingtheservices ofaqualifiedaccountanttohelpwith thefinancialandbookkeepingtasks.
Thisdoesnotnecessarilyhavetobea paidposition.Bigaccountingfirms maybewillingtohelpinthiswayfor thepublicityyoucanofferthem.And newprofessionalsstartingtheircareers mayappreciatetheboost,too.
