October 22, 2017  
 
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Opening a Lockers Business

We've collected some good advice that is ideal for entrepreneurial folks who want to open a lockers business. This is a must-read before you start!

Thinking about opening a lockers business? We tell you what you need to know to get started.
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Elements of a Lockers Company Business Plan

Your lockers company's business plan should be tailored to your business's unique traits and goals. However, the most effective business plans do address specific sound business plan elements:

  • Mission Statement Your description of your lockers business's reason for existing.
  • Goals & Objectives Goals are broad targets; objectives are the tactics you'll use to reach your goals.
  • Financial, Marketing & Action Plans Each of these plans covers a specific aspect of your lockers business's strategy and direction.

Don't Ignore the Competition

Prior to launching a lockers business within your community, it's essential to find out what the competition looks like. Try our link below to get a list of local competitors in your city. Simply enter your city, state and zip code to get a list of lockers businesses in your town.

How are you going to successfully complete with existing firms? It's important that you never underestimate the competition.

Find Good Remote Business Advice

If you are seriously contemplating launching a lockers business, the next step is to learn from folks who are already in business. Local competitors are not going to give you the time of day, mind you. What's in it for them?

However, an entrepreneur who owns a lockers business in a location that is not competitive to you will be much more likely to talk with you, as long as they don't view you as a competitive threat. In fact, they are often very willing to share startup advice with you. Our estimate is that you may have to contact many business owners to find one who is willing to share his wisdom with you.

The key question new becomes: how to find somebody who runs a lockers business on the other side of the country to talk to?

Simple. Let your fingers do the walking by using the link below.

Top Three Reasons to Buy an Established Lockers Business

It's almost always preferable to buy a lockers business than to pursue a lockers business startup.

You'll want to conduct a comprehensive due diligence process, but here are three arguments why you should think about buying instead of a startup.

  • Initial Revenue. Startups struggle to bring in revenue right out of the gate while existing businesses usually have a steady stream of income.
  • Operational Efficiency. A good lockers business should already function like a well-oiled machine.
  • Capital Acquisition. With several years of operations under its belt, a purchased company is much more appealing to lenders and investors interested in avoiding the risk of an unproven startup.

Don't Rule Out Franchising

Choosing to partner with a franchisor ensures that you are exposed to proven ideas that have been tested and proven over time.

As part of your process in starting a lockers business, a smart move is to investigate whether franchise opportunities in your space might make sense for you.

The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.

Other Useful Articles for Startup Entrepreneurs

These additional resources regarding getting started as an entrepreneur may be of interest to you.

Business Idea Evaluation

LLC Advantages


Conversation Board

Do you have questions or comments regarding starting a lockers business? Your feedback is always appreciated.


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Already Own a Lockers Business?

If you currently own a lockers business, these resources will come in handy:

Marketing a Lockers Business

Selling a Lockers Business

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If you sell to lockers businesses, you're in the wrong place. These resources are more appropriate for you:

Selling to Lockers Businesses

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