Business Management
In a time when a smart phone and a palm-sized Wi-Fi speaker can fill a home with digitally enhanced music, a growing swath of Americans search classified ads, estate sales, and vintage record stores for vinyl LPs (that’s “long-playing” for you Millennials). […]
creditcards.com (May 2017) – Starting a business, paying for education and even financing a once-in-a-lifetime trip – sometimes credit cards allow people the freedom to take a risk they couldn’t otherwise afford. “There are times when making a charge that is beyond your ability to promptly repay makes sense,” says Martin H. Lynch, director of education for Cambridge Credit Counseling Corp., in Agawam, Massachusetts. Financing a dream is one such case, but while dreaming big is good, having a repayment plan is better. After you’ve exhausted other payment options such as low-cost loans, crowdfunding and asking loved ones for help, funding a risky or dream venture with a credit card may be your best option. Here are seven rules to help you determine if the risk is worth it, and how to avoid ruining your financial life in the process. 1. Determine the value of the risk. Make sure you’re spending your money on something that has value. One example: Paying for a training course that could increase your future earning potential. There may be intangible benefits to using credit to finance a risky venture to consider, too. Investors often look favorably upon those who are willing to take on debt themselves for their businesses, says Clifford R. Ennico, small-business expert and author of “Small Business Survival Guide.” “As one investor once told me, ‘Don’t ask me to put my house at risk if you are not willing to do so yourself.’” 2. Consider your credit history. Your credit score influences the amount that new debt will cost you. With a high credit score, you can take your pick of loan offerings with low interest rates. Case in point: Susan Nagi of Tempe, Arizona, took out $52,000 in personal loans and used credit cards for living expenses when she started a business in 2014. She says owning an Our Town America franchise – a company that helps local businesses connect with new residents in a community – was a success partially because with a credit score in the 800s, “Everybody wanted to give me money.” 3. Make sure you understand the downside. Credit card interest rates are rising in the wake of the Federal Reserve’s interest rate hikes, so know that paying for your dream will cost you more in the months ahead. Also, taking on debt will likely lower your credit score. Talk over your plans with loved ones, too. If you’re not single, “Make sure your spouse and family are on board before you do this – they may not have the same appetite for risk that you do,” Ennico says. 4. Imagine the worst-case scenario. Think about what you would do if your dream failed. Would you be able to pay the debt you’re getting ready to take on? When Dallas-based small-business funding expert Myra Good used credit cards to finance a handbag line back in 2010, she was still working full-time so she knew she’d have a salary to help pay off the debt even if the venture did not succeed. Having multiple streams of income or the ability to pick up contract work in a pinch can also minimize the risk of going into debt. 5. Start with the end in mind. Calculate a time frame to pay down your credit card balance quickly by paying more than the minimum. Josh Skolnick used credit cards to spend $75,000 on advertising and marketing costs for his southeastern Pennsylvania tree removal business Monster Tree Service in 2008. He paid off all of that within six months out of the profits he made from his business. “When I put the charges on the credit card, it was never meant to be a long-term play,” Skolnick says. 6. Look for a promotional rate. Shop around for a business credit card. Your best bet is a business card offering 0 percent for an introductory period, which is basically a temporary interest-free loan. Several business credit cards currently offer 0 percent interest for nine or 12 months. Matthew Blackmon of Long Beach, Mississippi, used credit cards to help cover living expenses while he got his pool service franchise, America’s Swimming Pool Co., off the ground in 2012. “If you have 24 months of 0 percent interest, make a plan to get it all paid off, or a large majority of it paid off by the time that interest kicks in,” Blackmon advises. 7. Find tangible things to sacrifice. When Good used credit cards to finance her handbag line, she gave up trips to Dubai and other exotic locations she enjoyed visiting. Look for ways to cut back in order to speed up the repayment process. Ask yourself: “Are there expenses that you could significantly reduce or eliminate, at least temporarily?” Lynch says. “Make those cutbacks now to make paying yourself back easier.” Read article on creditcards.com. By: Tamara E. Holmes — Looking to open your own Our Town America franchise? Call 800-497-8360 ext. 236 or complete an online Franchise Application. Brittany N. JohnsonBrittany is the head of Our Town America’s corporate marketing department. She specializes in digital and print media, social media, and public relations. […]
Direct mail marketing is one of the oldest forms of marketing. According a 1921 business primer, “Effective Direct Advertising”, the world’s first example of direct “mail” was a piece of papyrus distributed to residents of an Egyptian town around 1000 B.C. The papyrus contained a written plea from a landowner for the return of his runaway servant. […]
“As the nation’s premier new mover marketing franchise, our continued success hinges on our ability to support our franchisees and connect new movers with reputable local business around their new home,” says Plummer. “And considering our unprecedented growth in recent years, it’s imperative we find and hire passionate and talented people who can help us do just that. Additionally, it’s equally important that we continue to evolve our service offerings and go above and beyond to show our appreciation to our loyal sponsors.” […]
Grab the Consumer’s AttentionDirect mail marketing pros and local business owners will tell you that crafting a mail piece that doesn’t get thrown away is the greatest challenge they face. According to 41pounds.com, a group that measures such things, Americans receive 41 pounds of direct marketing mail each year. Not only that, but 44 percent of it ends up in the trash without being read. […]
Our Town America celebrates its 45th anniversary this year and it’s just about to close a deal on a new 44,000 sqft space for its headquarters in Pinellas Park just outside of Tampa. The pending move and the milestone anniversary are just two elements of what promises to be a busy year for the franchise. Our Town America connects people who have just moved into a neighborhood with local businesses in that neighborhood by direct mailing the new resident a welcoming envelope filled with gift certificates from the local businesses. […]
WUSF Radio (November 2016) – Some small businesses throughout the Tampa Bay area will be getting surprise visits this week, as part of the inaugural “Small Business Support Squad”. The “Small Business Support Squad” was created by Our Town America, a national marketing firm that targets new residents and businesses, to thank small businesses. Melissa Nelson helped create the support squad, and says they will be going to small businesses before Small Business Saturday, on November 26th. That’s where people are encouraged to patronize small businesses on Thanksgiving weekend. They’ll be surprising local business owners with gifts, such as wine and massage certificates. “They work so hard that it’s just gonna be fun to give them something that’s gonna help them relax when this really busy season winds down for them,” Nelson said. Nelson says they plan on making the “Small Business Support Squad” an annual thing, and hope to include even more businesses next year. Listen to clip here >> Our Town America of Greater St. Petersburg on WUSF Radio — St.Petersburg, FL area businesses looking to team up with Our Town America of Greater St. Petersburg can contact Melissa Nelson & Steve Schroeder at 727-490-8155 or complete an online Contact Form. Small businesses in any U.S. market can reach out to Our Town America’s corporate team to get in touch with their local representative. Call by phone at 800-497-8360 or complete a Contact Form. Listen to clip of Melissa Nelson on WUSF Radio below. Brittany N. JohnsonBrittany is the head of Our Town America’s corporate marketing department. She specializes in digital and print media, social media, and public relations. […]
Charlotte Observer (November 2016) – Here they come: those holiday deal days when shoppers are expected to spend billions on gifts for friends and loved ones….and themselves. Take your pick of preferred dates. There’s Thanksgiving Day, when shoppers skip the hot turkey dinner for retailers’ doorbuster deals on TVs, tablets and more that rival Black Friday offerings. Small Business Saturday follows, preferred by those who want locally-made gifts and shopping without all the crowds. Others hold out for Cyber Monday, known for retailers’ website deals on everything from drones to Fitbits. This Monday after Thanksgiving drew 121 million shoppers last year, according to the National Retail Federation. Even though all these days take some of the punch out of Black Friday, the day after Thanksgiving “remains the official kick-off to the holidays and an important tradition for millions of shoppers across the country,” retail federation spokeswoman Ana Serafin Smith said via email. Consumers will spend an average of $935.58 during the holiday shopping season, according to the retail federation. And Black Friday remains the winning day during Thanksgiving weekend, according to Smith, drawing the most shoppers — 74.2 million in 2015. Overall, retail spending in November and December is expected to hit more than $655 billion this holiday season. Here’s a look at what stores and places are offering shoppers to draw them in on special shopping days. Thanksgiving: While plenty of big retailers are continuing the trend of being open on Thanksgiving, others are bowing out, including appliance and electronics retailer HHGregg. Part of the reason may be that turkey day shoppers aren’t showing up the way they once did. Thanksgiving Day drew 34.6 million shoppers in 2015, compared to 43.1 million in 2014 and 44.8 million in 2013, according to the retail federation. Still, plenty of shoppers are expected to forego the hot dinner and football to line up for stores’ late-afternoon openings. “Thanksgiving will be the day to highlight special deals to bring in customers who are looking to get a head start on their holiday shopping,” Smith said. Locally, several retailers will be open, including Belk, Target and Toys R Us, as well as shopping destinations Charlotte Premium Outlets, SouthPark and Concord Mills malls. Black Friday: This day traditionally wins over the most Thanksgiving weekend shoppers, with 74.2 million hitting stores last year, according to the retail federation. If you refuse to shop on Thanksgiving, this is the day to nab those big deals, “especially big ticketed items such as washer/dryers, TVs, etc.,” Smith said. Many retailers also launch extended hours to draw in holiday shoppers. Small Business Saturday: Local store owners shine on this spending holiday launched in 2010 and held the Saturday after Thanksgiving. American Express, which created the day, again is teaming up with Historic South End in Charlotte, Belmont Merchant Association in Gaston, the downtown Concord shopping area and other small businesses on promotions. South End will showcase more than 300 retailers, including many in pop-up shops, and offer free trolley rides for shoppers. Customers at any of downtown Concord’s 31 local stores will be entered to win $250 Concord shopping dollars. Also, local entrepreneur Jane McElhaney’s “Charlotte Small Biz Support Squad” returns for a second year. She plans to drive around the area and surprise business owners with balloons, food, gifts and massages. Cyber Monday: Typically the busiest day of the year for online shopping, online spending on Cyber Monday, which falls on Nov. 28 this year, is expected to jump to $3.5 billion from $3.12 billion last year, according to ComScore, which studies audience and marketing data. Shoppers wait for this day to see what e-commerce deals retailers are showcasing, Smith said. December 26: Some consumers will have a day off on this date, as their workplaces recognize this Monday after Christmas as the official holiday. It remains to be seen if that will translate into a stronger in-store shopping day this year, Smith said. However, “we know that it is important for retailers to move inventory as quickly as possible to make space for late winter/spring items,” Smith said. “December 26 is traditionally known as the day that most retailers have low deals and offers on holiday or winter-themed items that didn’t (sell)…during the holiday shopping period.” The Associated Press contributed to this story. Brittany N. JohnsonBrittany is the head of Our Town America’s corporate marketing department. She specializes in digital and print media, social media, and public relations. […]
WBTV Charlotte (November 2016) – This year, for the second year in a row, for Small Business Saturday, Jane and Tom McElhaney of Our Town America of Charlotte will head out to thank small business owners for everything they do for our community. Small Business Saturday, the shopping holiday held the Saturday after Thanksgiving, encouraging shoppers to patronize small and local businesses. Jane and Tom are small business owners themselves, as Our Town America franchisees, and understand that small businesses mean big business to the community. The McElhaney’s support small businesses year round, as the Our Town America business model is focused on helping local business owners create a sense of community at their stores by welcoming new movers to town with free one-time gifts. The McElhaney’s created the “Charlotte Small Business Support Squad” to show their appreciation for small and local businesses in their area. On Saturday, they will drive through Charlotte to surprise their partnered local business owners with a Community Service Award and more! Charlotte-area businesses looking to team up with Our Town America of Charlotte can contact the McElhaney’s at 704-341-4982 or complete an online Contact Charlotte Form. Small businesses in any U.S. market can reach out to Our Town America’s corporate team to get in touch with their local representative. Call by phone at 800-497-8360 or complete a Contact Form. Watch clip of Jane McElhaney on WBTV Charlotte below. Brittany N. JohnsonBrittany is the head of Our Town America’s corporate marketing department. She specializes in digital and print media, social media, and public relations. […]
You know who your favorite customers are, right? You’re probably thinking of one of them right now… the ones that order the same thing each time they come into your business, or they come in on the same day every week, or even every day of the week! These are the customers you get to know the best, as you build a relationship that extends beyond the transaction. Have you ever had one of those great regular customers disappear? Suddenly, they stop coming in every Friday and sitting at the same table. What happened to them? Chances are, they moved. You did everything right to keep that customer, but unfortunately, they’re a lost customer anyway. 19% percent of the population moves every year. With our society being as mobile as it is, these new movers represent both a potential downside and an upside for you. It is true you can lose great customers due to a move, and will need to replace them to keep from losing business. But, you also have an opportunity to earn a new loyal customer who recently moved into your area and needs your services. That’s where New Mover Marketing comes in. Turning New Movers Into New Customers Targeting this small, but very potent, market of new movers, you have an opportunity to get to these people before your competitors do. If you can create an opportunity leading them to your door, you can turn them into a regular customer, right? In order to find these new movers, it’s important to work with a New Mover Marketing company that allows only one business of each category in their package (one car wash, one pizza place, etc.). With the market becoming more competitive each year, exclusive rights in your local Welcome Package will give you a key competitive advantage. Our Town America is the nation’s leading New Mover Direct Mail Marketing company and can bring new movers to you by sending them a Welcome Package filled with FREE housewarming gifts from the local businesses in your area. While most direct mail programs attempt to get current customers to come back again, current customers usually have pre-established purchasing patterns and don’t necessarily need a coupon or discount to come visit your business. A marketing strategy with focus It’s important to note that some direct mail programs mail to tens of thousands of homes, and will mail to the same home more than once. Unfortunately, this results in you only being able to offer a watered-down coupon which, over time, can create “coupon-dependent” customers who only come in for discounted offers. Typically, these types of customers are not as loyal. With Our Town America, you will only be targeting people who have never been through your business doors before, as they just moved to the area. By mailing to these new customers one time only, you can provide a much more generous gift. When compared to the typical coupon mailed to existing customers, a generous offer mailed to new movers will create a higher rate of response. Treating these valuable new movers like royalty will turn them into regular customers, and will help grow your business for years to come! John GuerraJohn is a guest blogger for Our Town America and previously worked in national sales at our Clearwater, FL corporate headquarters. www.ourtownamerica.com […]
If you refer a business who partners with our new mover marketing program, we'll send you a $50 Visa gift card!
We only need a little info! If our database can validate and qualify your move, you will receive your welcome package in approximately 2-6 weeks!
