1) How is Signworld different than a traditional franchise?
Our setup is different in a number of ways to traditional franchising however there are some similarities to franchising as well. Let’s explore them below:
– No Rules: You are in full control of your business. While we help you every step of the way, you get to decide what is best for you and your business. Many franchise models offer you very little control of your business and most decisions have already been made for you.
– No Royalties: There are no ongoing payments, fees or royalties for the life of your business. It means you are more profitable off of the work you do allowing you to reinvest and grow your business, or take home more money each and every day.
– International Scalability from One Location: From one location, in a business park or light industrial center, close to home, you can build a company that services customers as far and as wide as you would like. This allows you to work with larger entities who have a more repeat need in a high demand industry.
– Independent Ownership Status: There are no expiration dates to your contract meaning you can run your business as long as you’d like with no renewals or fees down the road to continue on. When you are ready to exit the business, you are also in full control of the exit process, whether your sell your business or you succeed your business down to your kids. There are also no reasons that you’ll ever lose the rights to your business.
Franchise contracts last only for the number of years stated in the agreement. Franchise agreements can run as long as 20 years but many franchise agreements are for far shorter terms. When you reach the end of your agreement, renewal is not automatic … Your franchisor may choose to decline your renewal or they may choose to offer a renewal with different terms than your original agreement . For example, they may impose new regulations, new sales standards, reduce your territory size or increase your royalties and fees. You can also lose the right to your franchise if you don’t comply with the terms of the franchise agreement. A franchisor can terminate your agreement for a variety of reasons. If your franchise agreement is terminated, you’ll typically lose your entire investment.
– Strategic planning: We’ll help you identify a path to your desired future.
– Start-up assistance: From training to start-up equipment to getting the doors open, we’ll be there every step of the way to help you open your new business.
– Ongoing Training & Support: You’ll receive help and support in any area of business each and every day from our corporate team as well as from the other 360+ Signworld operations throughout the U.S. and Canada.
2) It seems that there is a lot of sign companies around. Will I be able to compete?
Absolutely! What is key to understand with our industry is that while it is an extremely mature market place, there are no major players like you find in other mature industries. The sign business is made up of lots of little sign companies who are owned and operated by former sign makers that are trained in making signs but not in running a business. Most sign companies are run just like the independent electrician or the local plumber. They don’t know how to market, handle finances or how to actually build a business beyond themselves. With a proven strategic marketing plan and the support needed to build a bigger business, you’ll approach the industry very differently than a vast majority of your “competition”. You’ll focus on corporate customers rather than retail customers which will help you build a national business, not just a local business. In addition, you’ll also have access to a proven internet marketing strategy that will help generate leads with the types of companies you want to work with and for projects you want to take on.
3) How scalable is this type of business?
The sign industry is extremely scalable. Most importantly, it is scalable out of one location! There is no need for multiple facilities, redundancy in staff or equipment nor additional capital to get to the scalability desired. Out of one facility, close to home, you can build a national sign company working with corporate entities that have more frequent repeat purchasing needs.
The great thing about manufacturing is that the product can be made anywhere. The only thing that is required locally is the project management and installation. That is where the power of our network of 360+ Signworld businesses come in. Our owners work together to service corporate companies with the highest levels of quality and service to keep the customer coming back time and time again.
4) What types of products will I be able to offer my customers?
You’ll be able to offer a wide array of products and services to your customers which will allow you to maximize the revenue and profit that you can generate from any one client. From traditional print signage like window graphics, wall graphics, floor graphics and vehicle wraps to other forms of signage like trade show displays, electrical signage, dimensional letters and lobby signage. You’ll also be able to offer traditional printing services like business cards and letterhead as well as promotional products. Having a wide offering of products lets you have every opportunity to put your clients brand on anything and everything.
5) With no royalty, how do I ensure that I’ll get the same support that I would in a franchise system?
We believe very strongly that even though there is no royalty, you’ll get more comprehensive support that you would in most franchise systems. Signworld has a few different revenue streams however only one is an obligation of a Signworld owner and that is the initial investment. The other revenue streams are available because of the access to support. If we support you properly, your business will grow. When it grows, chances are you’ll want to purchase additional equipment to manufacture more of what you sell. We are a resource for additional equipment, there are no obligations to buy through us however many of our owners do purchase through us to take advantage of the discounts we can provide through our group buying power. Also, if we support you properly, you’ll be more likely to utilize the reliable supply chains through our Preferred Partner Program that we have created even though there are no obligations to do so. These vetted Preferred Partners pay us an annual fee to have exclusive access to you though us.
The beauty in the support though is that it is not entirely a top down approach to support where every bit of it comes from the corporate office. In fact, our 360+ Signworld owners across the U.S. and Canada are also a big part of our support. They each would rather help and support each other in lieu of paying a royalty. This type of support allows for more outside the box thinking in a custom manufacturing environment but also helps shorten the learning curve for each owner as the industry and business world evolves.