Thursday, May 9, 2013

Insty Prints - Paul Arazny

Wouldn't it be great if someone could help you find a nice little mom-pop type business that had existing customers, cash flow and was affordable? And wouldn't it be great if that someone could help you negotiate the deal, train you and support you in your new business and then re-brand it for you under a national franchise umbrella? Does this sound too good to be true?

That's exactly the route that Paul Arazny took to find his new business venture. It's sort of like having your cake and eating it too.

Congratulations Paul, and welcome to the world of entrepreneurship!

E-story sub header 
 
Paul Arazny
Arazny
Paul was referred to me because he was actively pursuing a franchise opportunity and wanted more information on how he could utilize his retirement funds. When we first spoke, he told me that he had already been to a Discovery Day at the home office of a Midwest based Sub franchise and wanted to switch careers. When I asked him why he had focused in on that particular opportunity, he replied that he liked their sandwiches and there was availability near his home.

This is very common. Clients often focus in on product, service or experience they like rather than concentrate on what their life would be like as an owner of that particular business. When I questioned Paul about what his duties and responsibilities would be as an owner, it became immediately apparent this opportunity was not a good fit for his skills and lifestyle goals. So, we decided to go back to square one, get to know each other and together build a profile for a business that would be a better fit for him.

Paul was employed as an operations manager for a commercial printer. The owner had recently retired and the company had merged and Paul was concerned about being downsized in the future. He was a hard worker and had basically run the plant for the previous owner, yet he hadn't had a raise in seven years. At 56 years old he knew he needed to take control of his future and do something where he would be rewarded for his efforts. He also had a goal of retiring in about 10 years.

At one point in Paul's career he sold insurance. He realized that selling wasn't his calling and wanted that part minimized in his new business. He was more of an operations kind of guy and liked the technical side of things. He also liked a variety of responsibilities and enjoyed working with different levels of people within a company.  He liked challenges, wanted to be rewarded for his efforts and needed some time flexibility to enjoy life.

We explored a variety of business models that had the potential of meeting Paul's needs. At the same time, Paul was looking for existing printing businesses that were for sale. He even made an offer on one. But as often happens, the seller thought it was worth substantially more than what Paul was willing to pay. That's when Paul and I decided to change direction a bit.

There are some franchises that have what they call a conversion program. This is where an existing owner of a sign company, car repair or printing company can convert their existing business and re-open under the umbrella of the national franchise.  They would of course have to bring their business up to the standards of the franchise, be trained by them and operate under their systems and procedures. In return, the new franchise owner would get instant brand name recognition and the advertising and support of the franchise. In other words, they would be in business for themselves but not by themselves.

Now this also opens up the door for some potential franchisees, such as Paul, that would like to have the immediate cash flow of an existing business but yet have the training and support of the franchise. The franchisor would actually do a search of existing independent businesses on the franchisee's behalf and help negotiate a sale and complete the conversion for the new franchise owner. This appeared to be the perfect solution for Paul.

We focused on two printing franchises that both offered a conversion program. After investigation and validation, Paul decided on Allegra Network and their MatchMaker™ program because of their track record of over 200 successful conversions and over 500 nationwide outlets under the Allegra, Insty-prints, Speedy Printing, Zippy Print and Signs Now brands.

Paul did reinvest his retirement funds in his new business. After Paul paid his franchise fee and joined the Allegra team, they went to work proactively searching for a suitable seller. Paul was willing to relocate, so he suggested that they look in a potential retirement climate, so when he was ready to sell and retire he'd already be where he wanted to live. But when he and his wife got the exciting news that they were going to be grandparents, they decided that the business needed to be closer to their future grandchild. They confined their search parameter to within a few hours drive of their daughter and pending grandchild.

It took a while to find that "right" match for Paul. A lot of printing businesses were contacted within a reasonable driving distant of their upcoming grandchild. The business also had to be price affordable and produce sufficient cash flow to justify the selling price. Paul started this investigation while he was working, but during the search process, his company was sold and he got news that his job was going to be eliminated.

Losing his job might have even been that defining sign that business ownership was Paul's destiny. As it turned out, during Allegra's search for Paul, they were able to identify an Insty-prints location in Eagan, Minnesota that was considering selling their business. The deal was negotiated and Paul became a business owner with existing customers and cash flow.  He was even able to work in the store for a while, learning the ropes, before going to his official training by the franchisor.

It's now two years later. Paul and his wife Leslie are enjoying their new home, new business and have just been blessed with a second grandchild. Paul is enjoying the challenges of running his own business. "I like being a go-to resource for small businesses and helping them come up with marketing solutions.  They know they need to market their business but don't know where to start. I enjoy helping them come up with ideas, design marketing pieces and implement the plan. Plus, the franchise gives me lots of support so I can help my customers effectively."

Insty-prints is a full service commercial printing and marketing company. Besides a full range of printing, from brochures, stationery, forms, business cards, etc, they can also provide rubber stamps, name badges, advertising specialty products, mailing services and much more. You can contact Paul at 651-688-3385 or stop by his location at 1975 Seneca Road, Eagan, MN55122. If you prefer, get a quote by e-mail at info@instyeagan.com.

Paul had concerns that his job might be eliminated. Rather than follow a passive course and wait for that pink slip to come, Paul was proactive in researching franchising and business ownership as a possible career direction. When the inevitable happened, Paul was already on the way to start a new career where he could control the outcome and be rewarded for his efforts. Pretty good plan!

No comments:

Post a Comment