Tell us about the Fancy Art, NFP concept.
Framed art is in every home and office, a multi-billion dollar industry that you’ve never thought about. We live in an image conscious society and the art that we have say a lot about our lifestyle and values; after all, “a picture is worth a thousand words”. The problem is that People don’t like doing things that are difficult and painful. this has been a fragmented industry with many layers of middlemen that utilize an antiquated distribution system, driving up the price. so, Fancy Art, *NFP eliminated the waste and inefficiencies and created concepts and innovations that make it fun and easy for customer to create a personal masterpiece to their taste and within their budget; once they discover how easy it is, it’s like “Build-a-Bear Workshop” for grownups - they love it and want to do it again and again.
How and when did you become involved with Fancy Art, NFP?
"It's funny where life takes you if you give it a chance". In the early 90s, I was a commodity broker and with nothing better to do one weekend I went to an art auction, just thinking that I might buy a few things for the house. I quickly observed that the framed artworks were being sold for a lot of money. Eventually they got to things in the back room, unframed artworks, and raw framing materials, by that time the crowd had dwindled and these items were being sold for a pittance; so, I began buying and ended up going home with a twenty foot truck loaded up with art and framing materials. The interesting thing about not being formally trained in a field is that you may have no guidelines, but you also have no limitations. I began doing art shows to sell some of my booty and at the same time to educate myself in the field. It quickly became apparent that framing can be a time consuming and arduous process and people will only devote so much time to something and then their mind moves on to other things. So, I thought that if I could use a small handheld computer to do some of the calculations it would expedite the process and make it easier for the customer to make a buying decision. I began tinkering and as I was successful doing one thing, It would lead to another and the program kept getting bigger and bigger. Finally, after a year of tinkering, I had a program (app) that did everything. Only then did it occur to me that with this, almost anyone could do custom framing and that it would be a great franchise concept. We opened our first store in the Spring of 1995 and have been developing and refining the concept ever since and now Fancy Art, NFP is franchising. The new website, FranchiseYouNiversity.com; gives people the knowledge and confidence needed so that they can go out and live their dreams; the course is free, but the knowledge you will gain is priceless. To view a short video about the course go to: bit.ly/Preneur hopefully it will inspire you to register and take the first step to opening a door that could change your life for the better, as it did mine.
What are some of the advantages in being a Fancy Art, NFP franchisee?
- Framed art is ubiquitous, it can be found in almost every room of every home and office and it is an uncluttered marketplace with very little competition
- Our order management system is the most advanced in the industry and makes it easy to run your business from order inception to accounting and inventory control.
- Our patented racking system will allow you to offer a greater selection of picture frame mouldings than any of the competitors
- With our system, most of the work will be done for you off site; fabricating the frame, the glass, the matting, canvas transfers, giclee printing and mirrors, which means that you will not have to purchase or allocate space for expensive equipment and materials or hire and train the employees necessary to do that work.
- You will have a competitive price advantage; with our advanced systems and hub and spoke business model eliminating all of the middlemen, we have economies of scale that can’t be beat, allowing you to offer a savings to you customers typically from 20 to 50%
- Since full payment is expected with every order you will have great cash flow and simplified accounting.
- You will have the name, address, phone number and Email address of all of your customers, which is great for marketing
- Custom framing is a big ticket item with high gross profit margins.
- Most importantly, you will be working in a wholesome environment, surrounded by art and soft music, selling a big ticket item to a refined clientele who appreciate the finer things of life and have the discretionary income to afford them.
Who is your ideal franchisee?
Our ideal candidate will have good math and mechanical aptitude. Additional qualifications include strong sales and customer-service skills, well-developed people and communication skills that include the ability to connect with employees of all ages. Some business, management and/or sales experience is desirable, but not required. Ideal candidates will possess a high energy, professional demeanor, and strong standards of excellence, honesty, and integrity.
Tell us a little about the Fancy Art, NFP Market?
As mentioned earlier, framed art is ubiquitous, it is found in every home and every office; it is estimated that the average household has 27 framed pieces and another 9 yet to be framed; count the number of framed pieces in your home or office, you might be surprised. Custom framing is a big ticket item and it is something that will never be taken over by the internet, big box stores or ever become obsolete. Framing is a touchy feely thing and it is impossible to get a good feeling for the colors, textures and proportions on a computer screen. Nothing warms up a room like a nicely framed artwork and even in difficult economic times, people will be entertaining more in their homes rather than going out and they will want it looking nice when friends and family come to visit.
What are some of the greatest lessons you’ve learned in growing this franchise?
In order for any business to succeed, you must develop and deploy a tested business system that has proven to be superior under a broad array of market conditions; it doesn’t happen overnight and it’s notmagic. Consider S-Y-S-T-E-M an acronym that stands for: Save Yourself Significant Time Energy and Money. Once you have a viable system, you must follow it and not deviate, however you must also be flexible, listen to your customers and employees; sometimes they may be able to suggest a better way of doing something and if it works, incorporate it into the system.
Do you have a mentor and is there someone you use for inspiration?
My father came to this country with his father when he was only nine years old. My grandfather decided that he would rather return to the old country, but my father chose to stay in America. He was alone, no relatives, couldn’t speak English, yet he chose to stay and build his life here. He started out washing dishes and worked his way up; during his lifetime, at one time or another, he owned forty-two restaurants. I was a short order cook and worked with my dad in the kitchen when I was seven years old and learned many lessons there; work smart, not just hard, be efficient, minimize waste and inefficiency. Unfortunately my father passed away when I was eleven, but whenever I face adversity, I think about his journey through life and realize that you can overcome any obstacle if you put your mind to it. I chose not to be a restauranteur, because I saw how hard my parents worked at it, but I will always treasure the experience and the lessons I learned, which have helped me greatly in my life.
What advice do you have for someone looking to acquire a Franchise?
If given a choice, a majority of people would like to own their own business, be their own boss and build their dream rather than working for someone else’s; the two biggest things that hold them back are: not having the know-how (a business plan) and the fear of failure.
Although there are no credible hard numbers, it is widely accepted and believed that a franchise business has a higher success rate and lower failure rate than an independently owned (start up) business, provided of course, that they follow the franchisors system and are diligent in the operation of the business.
So, why the difference? A franchise has a tested business model and you will be trained in all aspects of its operation, including: suppliers, mark-up, marketing, management, site selection, layout and much more. Also the franchisor will give you a Franchise Disclosure Document that spells out in detail, pertinent information about the franchise, its history and any litigation.
Here are the Five Most Important Considerations:
1) Find something that is interesting and motivating. There are franchises in almost every field and if you enjoy what you are doing, you will do it better and be more productive; it won't seem like work and you will be building a legacy for yourself and your family.
2) Look for a big market with broad appeal, but not an industry that is over developed with outlets on every busy intersection, where you will get lost in the crowd or be at a competitive disadvantage.
3) Return on Investment: Can you make money? It is not just how much money you make, but how much you keep that counts. In any business, you either have to do a high volume or have a high profit margin; preferably both and then weigh that against your overhead costs. Only you can assess the franchises potential in your market area; your accountant, lawyer and brother-in-law will give you their advice, but you have to live with the decision.
4) What makes this franchise different? (Point of Differentiation) What gives this product or service an advantage; what sets it apart from the competition, so that it will stand out from the crowd.
5) Consider the products staying power: Will it endure and have constant demand or is it the next big bubble ready to burst? In our fast paced economy fads come and go, while other products and services become obsolete. Be sure it will stand the test of time.
In your opinion, why do you think that Fancy Art, NFP would be a great opportunity for someone?
- it’s a product needed in every home and office
- a big ticket item with high profit margins
- you will have a competitive advantage
From our recommended pricing, you will have a 200% markup on framing and that is with us providing most of the materials and doing most of the work for you. A 100% markup on all other profit centers including: art sales, framing, canvas transfers, giclee’ printing, mirrors, appraisals, art restoration, consigned art.
Finally, think about your lifestyle, you will be working in a low stress environment, surrounded by beautiful artwork and soft music; your work will never be mundane, because every job is different; you will be creating personal masterpieces for your customers that will be hung in a prominent place in their home or office and become a conversation piece and you will be dealing with a cultured clientele who appreciate the finer things of life and have the discretionary income to afford them.
There is a short video that describes our concept in more detail at http://bit.ly/ARTicul8.
