|
Thank you for your prompt response.
I, like you, am leery on a number of fronts. We have been 'shopped' by our
own and other franchises. When you hear some of the 'shopping' results from
your peers and not those who should be delivering the results - it can be
disturbing and raise ones guard.
Our store has been open over two years. We have seen two stores come and
go in this area since that time, one was an independent, the other, [national
chain] which only lasted about 6-8 months in a very good, high-traffic location
(I thought). Currently there is our store and another independent, [local
group] with 3 locations. We are separated nicely by geography and don't seem
to intercept each others customers.
We have spent a bundle on advertising, particularly in 2006. We had cable
TV spots, radio ads, [City] Times ads, the 'Clipper', mass mailings,
email blasts, signs at the local HS athletic field, school newsletter ads,
appearance at local events (parades, festivals, etc.), joined and spoke at
Chamber of Commerce meetings as well as local gatherings in homes and such.
This effort was coordinated by PR type that we hired that was locally well
connected and did good work as well as secure good ad rates.
In spite of all of this, we never saw one of them work any better than the
other. We were featured in the local paper in a half-page article with
photographs
that simply described what we did, where we were located and what items we
accept, etc. That one event was the most successful and was not solicited nor
did it cost any money! We spent about 15K for all of the advertising with very,
very limited success, certainly not even close to any dollar justification.
With never making a dime in 2 years, owning ones own business has gone from
joy to boat-anchor burden. I'm sure I could have at least saved face and
perhaps made some money by being a day-trader without ever leaving the
house or spending a dime to start it up. I purposely took a pause in my career
(Network Engineer) to start up this enterprise. I'm sure I could not return to
that field as any lapse in that field is almost insurmountable in terms of
current certifications, techniques, etc. Lets put it this way, I wouldn't hire
myself if I were to look at it rationally.
I am not a litigious person and prefer to keep the ambulance chasers busy
elsewhere - away from me. We have 12 months of lease left on our location.
What I would like to do is turn this business around (!) and sell it, but with a
negative cash flow to show, just how many people are going to jump on that
band wagon?
The best thing that has happened in this business recently seems to be
finding your web site.
I, like you, am leery on a number of fronts. We have been 'shopped' by our
own and other franchises. When you hear some of the 'shopping' results from
your peers and not those who should be delivering the results - it can be
disturbing and raise ones guard.
Our store has been open over two years. We have seen two stores come and
go in this area since that time, one was an independent, the other, [national
chain] which only lasted about 6-8 months in a very good, high-traffic location
(I thought). Currently there is our store and another independent, [local
group] with 3 locations. We are separated nicely by geography and don't seem
to intercept each others customers.
We have spent a bundle on advertising, particularly in 2006. We had cable
TV spots, radio ads, [City] Times ads, the 'Clipper', mass mailings,
email blasts, signs at the local HS athletic field, school newsletter ads,
appearance at local events (parades, festivals, etc.), joined and spoke at
Chamber of Commerce meetings as well as local gatherings in homes and such.
This effort was coordinated by PR type that we hired that was locally well
connected and did good work as well as secure good ad rates.
In spite of all of this, we never saw one of them work any better than the
other. We were featured in the local paper in a half-page article with
photographs
that simply described what we did, where we were located and what items we
accept, etc. That one event was the most successful and was not solicited nor
did it cost any money! We spent about 15K for all of the advertising with very,
very limited success, certainly not even close to any dollar justification.
With never making a dime in 2 years, owning ones own business has gone from
joy to boat-anchor burden. I'm sure I could have at least saved face and
perhaps made some money by being a day-trader without ever leaving the
house or spending a dime to start it up. I purposely took a pause in my career
(Network Engineer) to start up this enterprise. I'm sure I could not return to
that field as any lapse in that field is almost insurmountable in terms of
current certifications, techniques, etc. Lets put it this way, I wouldn't hire
myself if I were to look at it rationally.
I am not a litigious person and prefer to keep the ambulance chasers busy
elsewhere - away from me. We have 12 months of lease left on our location.
What I would like to do is turn this business around (!) and sell it, but with a
negative cash flow to show, just how many people are going to jump on that
band wagon?
The best thing that has happened in this business recently seems to be
finding your web site.
|