The Pulse is BACK!
Wednesday, October 20, 2010 at 1:49PM
Shirts, hats, promotional products, that's EmbroidMe!Our custom apparel and embroidery franchise, EmbroidMe, has cut an interesting path through the recession of the last two years. Year 2008 saw some growth and new units opening and 2009 was a year of retrenchment for the brand. My experiences saw our franchisees recommit to following their marketing plan; with fewer buyers came the reality that you'd have to press a bit harder to get each order. Pricing has become more aggressive, clients demanded the same items and quality on lower margins. Thankfully some relief in this area did come from preferred suppliers. A few kept prices at previous season levels longer than expected, which helped our stores. Employees to create, embroider and sell the products were readily available with unemployment reaching the highest levels of the decade. To their benefit, some franchisees quickly realized that you could hire a top notch person below their market value as jobs became tougher to find. Those that adapted well to the rapid changes and tighter budgets have weathered a storm. They are uniquely poised to build their stores in an environment with less competition and tremendous opportunity.
There was a shakeout in the industry, some of our franchisees report that embroidery failures hit their competition locally. From our vantage point, we saw this too, some of our stores closed or were forced to relocate into less expensive leases and locations. To see an EmbroidMe fail is to watch a breakdown in the implementation of a business plan. Sales cures all. If the effort to sell product falters, the system is not prepared to operate normally. Production, design, purchasing - all these vital functions need sales to fuel their existence. Indicators that our group survived better than the average business owner is all around us. EmbroidMe resells or resales, when a franchisee sells their business and book of customers but the store remains in the same location, were at regular levels and percentages over the past 18 months. I have been in three EmbroidMe stores in the last 7 days. Things are on the upswing. The mood has improved, the need for the products is constant, and the spending restrictions some companies imposed upon themselves have been lifted, equating to more commerce in our stores. I believe that membership in the group, the franchise, aided people that may have faired otherwise had they been independent. I speak with EmbroidMe franchisees every day. I work on projects that involve the business owners and their teams. The change is here and it's happening now. EmbroidMe is a viable business and a valued member of the business community. This is a great time to be doing what we do... and for customers to GET NOTICED!
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