This is default featured slide 1 title
This is default featured slide 2 title
 

Monthly Archives: February 2017

Start a Printing Business

If you want to own a facility this is very possible in almost any city as there is a turnover in this business and there are usually businesses for sale. You should checkout listings in the local paper, on the Internet and through business brokers. Any one of these can give you a lead to an owner that is looking to sell. Most of the printing businesses that are for sale can be purchased with the help of the owner or with outside financing if the deal is a large dollar situation. A large printing company can have considerable money in equipment and the building they own. They also will have a loyal customer base and an art file that is worth its weight in gold. This is an important asset, as the artwork may not need to be done again on repeat runs.

There are all types of printing companies. There are companies that print on high quality paper. Others may print catalogs or insert flyers for newspapers. Large poster printing is another printing specialty company. Screen-printing is a unique type of printing company as they do decals, bumper stickers, advertising boards, signs for bus, shirts, hats and cups. They can get a printed logo or text on just about any object that will take printing ink. All of these businesses can be very profitable once a clientele is in place. If the buyer has the money or can make a deal with the current owner, buying a going business is worth the investment if they are profitable.

Finding the right printing company for you

If you know the business then you will probably know already which area you would like to stay in. Local newspaper listings and the Internet will give you a quick overview of what is available. A business broker may have more detailed list to study. They should also have some idea of what kind of money is needed for each type of printing company. This source can speed up the looking process by several weeks or more. Hopefully they will have some of the specialty printing businesses in their lists. Some of these specialty companies are extremely profitable as the specialty cuts down the competition to a few providers.

If you need help with the purchase, the broker will know if the owner is willing to be a source of financing or is willing to go along with terms. There are so many ways a knowledgeable broker can help with the purchase. They can help with getting a fair price based on the financials of the company and not pie in the sky. Their ability to be a fair go-between for the buyer and the seller will expedite the sale. They can deliver terms the buyer can live with after the purchase.

The printing business has so many possible avenues that a buyer can pursue, there should be a deal that will suit the buyer. A very special segment of the printing business is the printing of circuit boards for computer companies and special equipment manufacturers. Advertising specialty items need to be printed. Almost every city has a company that does this type of business on a large scale.

Finding the money to complete the sale

Money is the grease that makes the deal happen. This critical element can be a stumbling block or just another problem to work through. If both parties take the attitude that this problem can be resolved, then normally there will be a way to make this happen. If the seller does not need the full balance in cash from the sale, it is possible that they will take back paper for a period of time. If they cannot or will not finance the sale, then the buyer will need to come up with other sources to get the money that is needed.

There are many companies listed on the Net that are in the business of making loans to facilitate a business purchase. Their requirements are varied and will depend on the purchase price, the company profitability, the credit rating of the buyer, the down payment and the length of the loan. If they agree to finance the purchase then the buyer will usually get a lower price for the purchase as the seller is receiving complete cash out.

Your own bank may be interested in making the loan. Friends and relatives are another source of funds. You may be able to get an SBA loan to make the sale. The buyer may have other assets that can be borrowed against to get the necessary funds. In any event the sale will not happen if the total price cannot be covered in some way. The buyer needs to be realistic if the funds are difficult to arrange and realize that this deal may not be possible.

Conclusions

Printing is a necessary service that most businesses need and cannot do without. This means that a person getting into this business has a huge number of possible clients to go after. This also means that there is always the prospect of extended growth for the company. This is a big plus for any new business owner.

The variety of printing businesses also opens many doors for the possible buyer. The many types of businesses that make up the printing industry will let the potential buyer find a niche that is just right for them. There are also franchise operations available and off shoots like screen-printing and specialty printing companies. This gives the buyer a selection to consider and study for the best fit for them, both financially and from an owner’s viewpoint. There is also the printing broker aspect that may be the easiest to enter, as the money needed to do it is rather small. This business category is full of many different opportunities.

Several Facets to a Successful Retail Operation

Location

Location is the critical element for almost all retail outlets. A store needs traffic passing by it every day. In a shopping center with other good retail outlets, there is a synergistic effect between them that helps each capture customers. Most centers are anchored by a prominent store, which gets a lot of traffic. This is of prime importance when looking at locations. A new store needs traffic to get off the ground and develop a following.

Merchandise

The next two important factors are the merchandise and the staff that waits on the customers. Both are critical to success of the store after the traffic situation is resolved. Attractive merchandise is needed or little or no sales will be made. If you get the people in the store, you need merchandise that gets attention and will be attractive enough that people want to purchase the items. The store will also need to constantly have new items for sale or the customers will begin to think that there is never anything new to look at or buy. Marketing and merchandising of products is an ongoing challenge to the retail merchant. How they do this and how often depend on what the general store image is to the public. Special times of the year will dictate some of the merchandise on display and offered for sale.

Employee impact

Customers desire well-trained and helpful employees. They want to deal with store employees that know where items are in the store and can answer other questions. A store employee should know the main items the store sells and should be continually brought up to date on new merchandise or specials the store is currently marketing. If you run weekly specials the store people should be versed on the special and it’s pricing. Customers should not have to remind people waiting on them that the merchandise has a special price this week. When a customer has to do that every time they shop at your store, they will begin to believe it is on purpose and not an accident.

Employees that are idle should not keep a customer waiting when they are ready to be helped. There is nothing more irritating to a customer than being ignored by the store help. A store owner would be wise to get a report by a secret shopper of their experience with the store. Being aware of what is happening in the store is part of good management. Never assume all is well as many owners are the last to know what is really going on between the customer and the store employee. Customers will complain by not coming back and you will never know they feel mistreated. Not being helped by a knowledgeable employee is a common complaint by store customers.

Displaying merchandise

The art of displaying merchandise in an attractive manner is an entire course in retail store management. If items are not seen or displayed properly, you will not sell many of them. Merchandise needs to look fresh and crisp at all times. Shop-warn items should not be displayed except in a bargain section. Impulse items should be on display near the cash out area. Items should be displayed in the appropriate sections. Similar items should be collected in the same area of the store.

Attractive displays also may need special devices so the items can be shown to advantage. Stacking or hiding items is not a good way to get the customer’s attention. When thinking of a display try to get into the customer’s mind and imagine what they will see with the display. If it does not draw attention, it is probably not doing the job. Eye level or slightly lower is the optimum position to show specials. Signs and placards are another way to grab the customer’s eye.

Newspaper ads, TV and radio will help to get them in the store, but the displays are what sells the merchandise. It is a terrible waste of money to get customers to come to your store, only to walk out when they cannot find what they came in to see. Putting the customer first in your ideas will help you make the correct display decisions.

Ordering

Ordering in a timely manner needs to be automated some how. Inventory levels need to be monitored and kept at the right level at all times. Being out of sought after items just sends the customer to another store. The store owner and the store manager should be aware of inventory all the time. This is a prime area of responsibility in running the store correctly.

Other business concerns

A retail business has to operate like any other business as far as sales tax, payroll taxes and quarterly reports to meet state and federal requirements. This part of the business is like many other businesses and is just part of owning a business. Time must be scheduled for these activities or hire it out to an expert on a part time basis. For some owners this is the best way to handle this needed function. There are dates that must be met and these reports must be filed on time. Hiring this out may solve this problem with expert help.

Advertising is another area that needs to be considered in the retail business. What is done in this area is related to the items sold. How often it is needed and the type will depend on the business. This can also be contracted out, but it must be kept under control, as it is easy to buy more than is useful. An experienced ad agency may be needed for a while until the business can become stable. This is a learning situation and what works must be found.

Conclusions

Location, location, and location is the critical factor in every retail business. Walk by traffic or car traffic is needed to be successful in the retail business. Once this factor is covered, the merchandising and employee management can be put in place. If people do not come in the store, then it will not matter what you do as far as employees or merchandise is concerned.

Excellent customer treatment is the result of well-trained employees and does not happen automatically. This has to be part of the planning by the management. Trained employees help to bring back customers and make them the best customers of all. A repeat customer is worth a great deal of money over time. Also repeat customers will refer other people to your store. This is word of mouth advertising that all business want, but have to earn the hard way.

Displays need to be eye catching and help to sell the product. Posters and placards can be used to direct attention. Once the customer is through the door, you have a chance to make a sale. A successful retail store puts all of these factors together.

 

Start a Spa Business

The other way to get into the business is to start a brand new business. This will cost somewhere near what you would pay for a similar type of spa business, except for the value of their existing clientele. The advantage to the existing business purchase versus the brand new start-up is the existing customer base and the immediate cash flow. There are many types of spa businesses and the cost of the one you would like to own will depend on the type you choose. A resort type spa for example will probably cost far more than a day spa or a distributor of spas. The services that you offer will also show up in the cost of the spa. Service usually means the need for employees to provide the service. Employees have an on going monthly cost that does not go away whether you are busy or not. Other services may be equipment dependent and therefore you have the equipment cost and the maintenance expense.

A distributorship will have its own unique costs and expenses. A show room is almost mandatory to run the business correctly. You cannot sell spas without demonstrating them. This will entail a building set up to do just this and a different set of employees to pull off this type of business. Salesmen and people persons are going to be important factors in all of these businesses. Solid sales people are a necessity in selling spas to the public. This is a luxury item, not a necessity of life.

Which spa business for you and how to find them

As stated above the Internet is a great way to start looking for businesses that are up for sale. This will give you a good idea of the difficulty in finding one that is in the area of the spa business that catches your fancy. These listings will also let you know if there are businesses in your local. Talk with spa owners and business brokers to get an idea of the opportunities that are available in the spa business. Visit day spas and resort spas to see how they are run and the services they offer to their clients. Ask them if they know of any businesses for sale. You never know where you will get a solid lead. The business broker will have answers for some of your questions and will know where to find the answers he does not know off of the top of his head. An experienced broker may have already helped with the sale of the type of spa business that you are favoring. This part of the discovery process is like being a good detective. Let the facts and the leads get you where you can see the answers to your growing question list. Spending the needed time on this part of business buying will help in many ways. You will become better versed on what is available and the prices that different businesses command. You will also soon discover whether you can buy an existing business or have to start one from the ground up. This will help to determine the money needed and how you can come up with the purchase price or start-up price.

I have the money or I can get it

You have to be able to say the above in order to buy an existing business or start one up. The cost in this niche business will depend on the selected area of the spa business. Once you have selected the spa business you wish to own, then you must find one for sale or start one up. Both of these will have prices that you can afford or can get financing for. Raising the total price may take some creative financing on your part. The current owner may be willing to accept terms to enable the purchase. Other areas that may loan you the money you need are the bank, relatives, loan from a business lender and a loan on assets you own.

One way or another you will need to come up with the total price. If the current owner is involved, be prepared to pay a premium for the business. Most owners have a cash price and a higher terms price. The problem with this is can you afford the business and still have enough capital to run the business. If the answer is yes, then all is okay. If this is not the case, maybe the potential buyer may need to pass for the time being. Knowing when to pass by an opportunity may be just as important as making the decision to buy.

Maybe in this business, you can select a less costly avenue to get into the spa business. You have several ways to go and if one road is closed then there may be another way to go. The point of this is do not strap yourself financially to buy a business and make success more difficult or impossible to obtain. A buyer must make realistic judgments. Viewing these decisions through rose-colored glasses can be a serious error.

Conclusions

The multi-faceted spa world offers several types of businesses to consider owning and running. Some take a large capital commitment and some are far more reasonable in their money requirement. The choice is yours based on your interest and the money you can bring to the table.

An area not previously mentioned is the franchise spa company. This area should be looked at as a possibility. There are some advantages to being connected to a spa company with a nationwide reputation and advertising campaign.

Financing in this business category is not much different than what is needed in other business purchases or start-up cost. Some versions are capital intensive and some do not take anywhere the same money commitment. Finding the right business for you in the correct segment of the industry will take study and comparing the chances of a successful ownership.

The suggestion is to talk with business brokers to see what they have for sale and the money needed to make the purchase. They are a great source of good information and current trends or developments. The experience they have and the sources they can call upon will be of help in getting answers to your questions. Knowing answers will help you make far better decisions and thoughtful changes in your plans.