Thinking about opening a frame shop? We tell you what you need to know to get started.
(article continues below)
How to Create a Winning Frame Shop Business Plan
You've heard that a quality business plan is the first step toward a successful frame shop.
The consequences of neglecting your frame shop's business plan can be severe - lenders and investors don't seriously consider funding businesses that lack a viable business plan.
Furthermore, a good business plan will help you avoid key startup mistakes. Lacking a solid business plan, many startups find themselves rudderless and incapable of executing consistent decision making processes, while committed business planners rely on their plans to guide all of their decision making and short-term planning efforts.
What It Means to Own a Local Frame Shop
This is predominantly a local business that sells to local customers. Does localization mean that your business will sell exclusively to customers in the immediate vicinity? Not necessarily. However, customers that are close to your location will be your best bet for customer acquisition. As such, the focus of your startup promotion efforts needs to center on reaching the surrounding area.
Assess the Competition
Prior to launching a frame shop in your town, it's a smart move to determine how strong the competition is. Use the link below to generate a list of competitors near you. Simply enter your city, state and zip code to get a list of frame shops in your town.
Prior to opening your doors for business, be sure you fully understand the competitive landscape and where your new business will fit in.
Turning Competitors Into Collaborators
After you've evaluated your local competitors, it's a smart move to talk to somebody who is already in the business. If you think your local competitors will give you advice, you're being overoptimistic. Why would they want to educate a future competitor?
On the other hand, an individual who has a frame shop on the other side of the country may be willing to share their entrepreneurial wisdom with you, as long as they don't view you as a competitive threat. Many business owners are happy to give advice to new entrepreneurs If you are persistent, you can find a business mentor who is willing to help you out.
So, what can you do to find somebody who runs a frame shop in another community?
Here's how we would do it. Try the useful link below and key in a random city/state or zipcode.
Acquisitions vs. Startups
There is a lot of debate about whether it's better to start a new frame shop or acquire a frame shop on the business-for-sale marketplace.
Unless you have compelling reasons to launch a new business, buying an existing frame shop may be the better choice.
Established frame shops are already equipped with the resources and processes new business owners struggle to acquire. If you're diligent about finding the right acquisition prospect, you may be able to leverage a business buying strategy to rapidly propel yourself into a position of industry leadership.
Don't Forget About Franchising As an Option
In general, franchises are faster and more reliable than typical business startups. When it comes to supply chains, marketing, hiring processes, operational procedures and other areas, it's hard to beat a small business franchise.
The link below will take you to the Gaebler framing store franchise directory, a resource containing a list of frame shop franchise startup opportunities in your area.
These additional resources regarding getting started as an entrepreneur may be of interest to you.
If you sell to frame shops, we've got better information for you elsewhere on our site. These resources are more appropriate for you:
If you are still exploring all of your options, please browse our directory of guides below.