Month: December 2013

Unfortunately, the well worn phrase that “those who don’t learn from history are forced to repeat bad events in history” is true. Current economic times have shown us that “working for a corporation” job security, indeed, any form of job security, for the long term is not very dependable. So, if working for someone else is not the long term positive economic answer to your financial needs, what is? Owning a business is an option.

Today many existing business owners are considering diversifying their product or service due to downturn or lack of growth. Owning and developing a business that is proven and that has enough uniqueness and competitive advantage to insure you long term strategic, sustainable advantages is the answer. Franchises (Such as Pop-A-Lock) that provide unique and consistent opportunities with sustainable, strategic, competitive advantages can represent the positive initial and future economic achievement that you desire. Thus, the current negative market and business events can motivate you to make the right decisions and start on the right path to provide for yourself and your family, long-term, in both up and down business or market cycles, positive economic results.

• First you must insure that the opportunity you develop is sustainable in both good and bad times. How much is business affected when business or market success is not moving in a positive direction? Historically, have the opportunities you are interested in been successful in bad economic times?
• Next, you must look at current and future, possible competition. If you select an opportunity that may become obsolete due to changes in technology or future business environments, you will not achieve the financial security and success that you desire. Also, if you pick an opportunity that becomes a commodity, or could have so many of the same businesses that you are considering entering that your revenues or prices have a strong likelihood of being greatly diminished as competition grows; you will not be as likely to reach your long-term financial goals.
• Ask yourself how many other businesses like the one I am considering are there, both as individual businesses and as businesses that are part of a small, medium or large organization or system. If those businesses continue to grow and compete with the business I am considering, how will I be so substantially different as to dominate or negate all competition?
• What natural advantages and ongoing future advantages does the business I am considering have over all current and potential competitors?
• What is the system’s historical success with the business opportunity I am considering?What support is there to ensure my success in the business opportunity I am considering?
• What expansion opportunities regarding providing additional goods and services, or “locked-in” account opportunities, are there?
• What national accounts or guaranteed business comes along as part of the business opportunity I am considering?

If you insure that the business opportunity you are considering has sustainable, strategic, competitive advantages, both now and in the future, you are far more likely to be successful in providing long-term financial security for yourself and your family. Do not settle for just good current revenue. Insist on long-term true wealth creation in exchange for your financial and business efforts, and focus on the opportunity you select. Your future success is within your control if you take the time to ensure that the opportunity you select leads to the results that you desire.

Don Marks, CEO, Pop-A-Lock donmarks@systemforward.com

Todd Coupal used to be a buyer for two of the largest brands in their industries. Today, he is a business owner and the president of Pop-ALock of Greater Vancouver, a trustworthy and professional locksmith company that provides commercial, residential and automotive locksmith services.

For him, making the leap to business ownership was a natural one, but finding the right opportunity was key. “What I liked about my previous career in retail management was that the job was very much like running your own business,” said Coupal. “I was responsible for budgeting, choosing the optimal product assortment and developing sales and marketing plans to achieve our goals.” But after 15 years of growing that business, Coupal says he was ready for something more.

“There was always that latent dream,” said Coupal. “I wanted to build something of my own. There I was creating a profitable business, but it was all going to the company.”

Coupal began exploring franchise business opportunities, but with the number of concepts available to choose from, the research quickly became overwhelming. That is when he turned to FranNet of Western Canada and met with Grant Bullington, a franchise consultant who works with individuals considering business ownership to match them with a franchise business.

Working with Bullington, Coupal took a Personal Franchise Assessment (PFA), a sort of personality test of his business acumen. The assessment looks at a person from many facets, including their behaviour profile, risk tolerance and financial background. Coupal’s PFA was then used to help identify franchises that would align best with his attributes.

Coupal had some specific goals in mind with owning a franchise where he “wanted to be able to develop an entire market,” he recalled.

Specifically, he was looking for a U.S. business that had been proven successful but had yet to come to Canada. And he felt that franchise ownership would be less risky than starting a business from scratch.

Bullington suggested a few concepts that aligned with what Coupal sought in a business opportunity, and Pop- A-Lock quickly surfaced to the top.

Coupal says he was drawn to the concept for several reasons, including the fact that the business was both direct to consumer and business-to-business. He also liked the opportunity to provide a far superior business delivery model and service than existing market players in an ‘old school’ trade.

Coupal opened Pop-A-Lock of Greater Vancouver in 2012 as the brand’s second franchisee in Canada. Part of the largest network of locksmiths across Canada and the U.S., Coupal’s business provides customers access to the latest locksmithing technologies and security reporting systems. And, he says, it starts with the exceptional training and support provided by the franchisor.

“Pop-A-Lock’s head office provides a national training center, which observes a consistency of training amongst employees,” said Coupal. “They also provide training on automotive locksmithing which is a unique skill set in the industry.”

Pop-A-Lock is able to make chip keys, proximity keys and push button remotes on the spot for almost any vehicle where the keys are missing. An extensive proprietary database serves as a comprehensive resource on vehicles in production. Pop-A-Lock franchisees know what kind of keys and methods they need to work on for a customer’s particular vehicle.

“Pop-A-Lock really stood out as a shining star in the industry,” said Coupal. “And that’s what got me really excited to join and be part of the brand’s growth in Canada.”

For more information on Coupal’s Pop-A-Lock of Greater Vancouver, visit vancouver.popalock.ca, or call 604-733-5625 for Vancouver/Richmond; 604-980-5625 for North/West Vancouver; or 604-435-5625 for Burnaby/New West.

For those interested in learning more about business ownership opportunities, contact Grant Bullington of FranNet Western Canada at 604-609-6165 or visit www.frannet.com.

About Pop-A-Lock

Pop-A-Lock is one of the world’s largest professional locksmith franchises and provides 24-hour locksmith support. Pop-A-Lock services range from corporate to residential, automotive and emergency. For more information, visit www.popalock.ca.

About FranNet

FranNet is North America’s most respected leader in matching individuals with franchise ownership opportunities. Founded in 1987, FranNet has more than 100 experienced consultants across the United States, Canada, Germany and the United Kingdom. FranNet uses a proprietary profiling and consultative process to determine a business model unique to each client’s goals, skill sets and interests, and has matched thousands of prospective business owners to rewarding small business franchise opportunities. Based in Louisville, Kentucky, FranNet has been recognized by Inc. magazine as one of the fastest growing private companies in America for the last five years.