I have just completed a business plan of a Woodcraft Franchise for the Central NJ Market and I am seeking a partner that can assist in the up front investment and running of the operation.
If you are interested in this opportunity, please contact me at snipped-for-privacy@earthlink.net.
are you going to list rec.woodworking as a reference in your prospectus?
;-)
seriously, if I had a few hundred thousand dollars laying around, I might consider it. Too bad I'm a poor schlep that wastes every spare penny on wood or tools.
You might want to talk to the ex-owner of the now defunct Phoenix franchise. He might be able to help you analyze some of the possible outcomes and why they occurred.
-Doug
Wouldn't that be a lot like an alchoholic owning a bar?
DexAZ
I actually did this about 6 months ago and I also spoke with the other franchees to corroborate his allegations. The statements that I heard from about 6 other owners were consistent. The reason why the store did poorly was basically due to owner management. Apparently the owner never went to the WV headquarters to participate in the franchise meetings. He also never particpated in the independant franchisee organization to address concerns with WC management. Apparently this person was very combative with HC from the very beginning. However like any franchise one needs to be careful with the legal langauge and understand what they are getting into.
Sounds like you are going in with eyes wide open. Just some of the points (which may be exagerated) that I heard while an employee.
Ultra slim margins on the heavy 'arn - especially when prorated out against other expenses.
Sale items being shipped to you in "quota" volumes without your approval and with almost zero margin before considering overhead.
No apparent consideration for overhead of different areas utilities, shipping, rent, etc.
An unbelievable amount of product "walked out the door". You really need a ton of theft prevention equipment as well as being staffed sufficiently to keep an eye on all corners. We had "rings" come in 'en mass and spread out through the store to outnumber the staff. We knew it was happening, but not much could be done about it without risking the lawyers finishing you off before the normal business considerations. This ain't all necessarily all from the patrons :-( We had one week (roughly) of theft losses that wiped out 1 months (roughly) profit.
...and much more that CRS erases.
sufficiently
happening,
What is there to steal at Woodcraft that has any street value? Small power tools are about the only thing I could think of.
It would be a lot smarter to steal from a computer store or an electronics stores.
Brian Elfert
They are usually under lock, but a couple smaller LN planes might work for a thief, make the stop worthwhile. I'm sure there's other stuff open to the light-fingered brigade's lifting exercises.
Charlie Self "Character is much easier kept than recovered." Thomas Paine
About anything that isn't nailed down and will fit under baggy clothes. One guy even pulled up in front of the store last summer, opened the back door of his car, walked just inside the front door, grabbed the gumball machine, ran back out the door throwing the gumball machine in the back seat and peeled out of the parking lot. Happened so fast, no one was even able to get a license plate number.
-Doug
Nice town. I got an old college buddy lives near Tucson: no wonder he goes armed everywhere.
Charlie Self "Character is much easier kept than recovered." Thomas Paine
I live in what some would consider a "bad" neighborhood in Tucson. it's pretty tame compared to some of the places I lived in in San Diego.... Bridger
Street? eBay!
Barry
The store was located in Tempe, a nice quiet little college town - home of ASU. Tucson also has a franchise. Only been in it once, but it seems to be thriving.
-Doug
Yep, better prices, cleaner and more organized than Woodworkers Source, the "other" woodworking specialty store here in town. It's still quite high though compared to mail order from other sources.
I can see that. Sometimes your time is worth more than other considerations.
yabut woodworker's source is a lot closer to where I live. I end up there more.... Bridger
Chalie Self(?) wrote:>I got an old college buddy lives near Tucson: no wonder he goes
Doesn't everyone? Tom Someday, it'll all be over....
'specially when you're in the middle of a project and you need a 1/8" roundover bit. WS only carries amana, and that bit was $35, but I was back and cutting wood in 20 minutes.
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