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Monthly Archives: March 2019

How SpeedPro Imaging CEO Larry Oberly Embodies Company Culture/Vision

March 21, 2019

In order to succeed in the business-to-business (B2B) world, one of your key attributes must be the ability to build relationships. Those relationships are a cornerstone of SpeedPro Imaging’s success as the premier choice of businesses for wide-format graphics.

Since Larry Oberly became CEO of SpeedPro in late 2017, the franchise company has grown in large part because Larry lives to form connections – with clients, businesses and franchisees. It’s this quality that propelled him from owning ice cream shops to leading the growing wide-format printing franchise in a competitive industry.

Appreciating Cast Members

It was 1992 when Larry owned Baskin-Robbins ice cream shops in St. Louis, Missouri, when his leadership style of nurturing relationships in franchising began. It was born out of competition, realizing he had to do something to keep his employees from leaving to earn 10 cents an hour more at the fast-food hamburger chain down the street. Instead of paying more, he built an irresistible culture.

Larry cultivated an environment where comradery was part of the ice cream shop culture. By doing this, his best employees referred their friends to the business. This included referring to employees as “cast members,” which was a more humanized title and it encouraged his mostly teenage workforce to “perform” for customers.

Larry’s leadership style is also collaborative and consultative, which he has put to good use nurturing his professional relationships. This was evident at the work parties he hosted at his home, where Baskin-Robbins cast members created their own games to play.

Ultimately, Larry’s main store ranked No. 2 in terms of sales in a region consisting of 240 stores.

Team Spirit Achieves Results

Larry brought his leadership style to RE/MAX as a franchise development consultant in 1998 and was promoted three times in seven years at the real estate company. He served as Regional Vice President, Vice President of U.S. Regional Development and Vice President of Global Development.

Like at Larry’s Baskin-Robbins stores, he fostered a culture of comradery and celebrated accomplishments with his teams. For example, when new global master franchises visited Denver for training, Larry would host a welcome reception at his home with his team. He found these social gatherings to be an effective way to build relationships. The numbers speak for themselves.

As VP of the Arizona, Nevada and New Mexico Region between 2000 and 2005, Larry’s team added 120 franchises. In 2017, the global master franchises completed more than 800 franchise sales. This is just a smattering of the expansion that Larry and his teams achieved.

By the end of his tenure at RE/MAX, Larry was ready to lead a business in a more creative industry.

Focus on Growth and Franchisee Success

Since coming to SpeedPro at the end of 2017, Larry has made a point of visiting with most of the franchisees that make up the brand’s 130 locations at their studios and build relationships with them. While expanding the number of studios and increasing SpeedPro’s market share is important, Larry also wants to make sure existing franchisees are profitable.

“My goal is to grow our brand well beyond 130 studios, of course,” he said. “But, we also have to make sure we never lose sight of helping our current franchisees by expanding and enhancing our infrastructure and support services. That, in itself, is a tremendous draw for entrepreneurs interested in owning a SpeedPro studio. By collaborating, the SpeedPro home office and our studio owners will do this together.”

To make sure all franchisees feel involved, Larry either films a video or does a live webinar every three weeks or less for studio owners, so they are informed, share ideas, provide education and ask questions to reach common understandings between the home office and the team on the frontlines. Larry will begin hosting town hall meetings in major markets in May.

SpeedPro is a franchise concept that requires studio owners to get out in their communities, network with other business owners and build relationships with them. It’s fitting then that relationship building is what drives SpeedPro’s CEO.

“I love that the SpeedPro model requires studio owners to engage with their customers to acquire more and retain who they serve,” Larry said. “It’s all about the collaborative and consultative spirit, and using creativity and innovation to help other businesses solve their marketing needs.”

To learn more about what sets SpeedPro Imaging apart from other franchise opportunities, visit our website.

SpeedPro Imaging Continues to Earn Industry Recognition

March 15, 2019

For more than 20 years, SpeedPro Imaging has stood at the forefront of the wide-format printing industry, providing enterprising entrepreneurs with the opportunity to build a business uniquely positioned in the business-to-business franchise sector.

Across the United States, there are over 130 SpeedPro Imaging studios owned and operated by local business owners who are able to capitalize on a business model built around minimal staff, repeat clientele and high-margin projects that provide exceptional opportunities to scale and grow.

It’s for these and many other reasons that SpeedPro Imaging continues to be recognized by the franchise industry and larger business communities.

Here’s just a sampling of some of our recent accolades:

10 Years and Counting as a Leading Large-Format Graphics Franchise

We were once again recognized in the exclusive Franchise 500® by Entrepreneur. Since 2009, SpeedPro Imaging has been included in the prestigious ranking, reflecting our consistently strong growth and our dedication to helping franchisees succeed at the unit level – in fact, we have one field consultant for every 12 franchise business owners, which is a far better ratio than the 1:20-40 average you see across franchising.

The magazine evaluates franchise brands based on a number of key factors, including costs and fees, size and growth, corporate support, brand strength and financial strength. All franchises are given a cumulative score based on more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500® in ranking order.

SpeedPro Imaging was also selected by Franchise Gator as a Top 100 franchise for 2019. This is the 6th annual Top 100 list the online franchise directory has been released and was developed to assist prospective franchisees in their search for a franchise opportunity to invest in. The list focuses on identifying franchisors with strong growth potential at an investment level that is more in line with the average franchise buyer.

SpeedPro Imaging is ranked as the number 53 franchise opportunity overall. The ranking was developed using a formula based on several criteria including financial stability, growth, sustainability, profitability, transparency and franchisee satisfaction.

“Each opportunity on the Top 100 list has demonstrated strong growth potential coming into the new year,” said Eric Bell, General Manager at Franchise Gator. “Not only are these opportunities among the very best in the industry, but they also offer a solid investment for the everyday franchise buyer.”

Innovation at the Heart of Our Wide-Format Printing Franchise

In addition to franchise industry recognition, SpeedPro Imaging was recently included among the “The 10 Most Innovative Print Management Companies 2018,” according to Insights Success, a magazine dedicated to providing business leaders and executives with a platform for sharing their experiences and perspectives.

A contributing factor to the recognition is the fact that SpeedPro Imaging is leading the way in wide-format printing technology and solutions, which is the fastest growing segment of the printing industry.

With brand messaging and advertising proliferating across digital channels, an increasing number of companies are seeking solutions to reach and influence their target audiences using large-format graphics, including exterior signage, wall murals, window decals, vehicle wraps and a wide variety of other graphics. Clients seek out SpeedPro Imaging franchisees on a consultative basis, working with them as an extension of their marketing and advertising teams to bring their projects to life.

Want to learn more? Check out how our business model distinguishes us as a franchise opportunity.

How Much Does it Cost to Open a SpeedPro Imaging Franchise?

March 8, 2019

If you’re excited about the growth of and bright forecast for the printing industry, but you’re still unsure about making the leap to SpeedPro Imaging franchise ownership, let’s take a look at what it will cost to get started, the value you get for your money and your earning potential.

Total investment to open your SpeedPro studio ranges between $240,050 and $285,850, and includes the initial franchise fee of $49,900. The initial franchise fee covers the costs of support and resources you receive in order to get your business up and running. Qualified veterans receive a 10 percent discount on the fee.

For Starters

Your initial investment includes the startup package and working capital (office furnishings, printers, customized workflow/customer relationship management software), which are essential to getting off to a strong start and running your business every day.

You will be immediately enrolled in the comprehensive Kickstart and Ramp Up programs upon signing the franchise agreement. The programs go in-depth to provide you with the know-how to develop your business and client base. You’ll also learn about the products and how to start generating revenue even before you open your doors.

Kick Start Your Business Immediately

The Kickstart program will guide you from the search for your studio space to your grand opening. In the first month alone, you will:

  • Search for studio space with real estate brokers and your field consultant
  • Undergo training on parts, products, applications and more
  • Sign up for business training – which includes franchising 101, sales, finance and employee recruitment and retention – at the home office in Denver
  • Get hands-on experience working in a high volume SpeedPro studio
  • Complete market pricing analysis with your field consultant
  • Meet vendors and the team at your Buddy Studio
  • Go through day-to-day business training with administrative tasks

The remainder of the program consists of working with your regional developer and field consultant to create a business plan for your SpeedPro franchise, sales and production training, finding and hiring top-notch employees and, finally, preparing for your grand opening.

Ramp Up to Revenue Generation

The Ramp Up program, a key differentiator that separates SpeedPro from other large format printing concepts, is also part of the pre-grand opening phase and is intended to help you start generating revenue right away.

It begins months before opening your doors with product training followed by training on our proprietary sales and marketing processes. You will then begin making sales calls with your field consultant in tow to help you optimize the process for client base development. You will also begin networking in your community to establish lasting B2B relationships that will turn into sources of revenue. When you get jobs before your studio is open, your nearby Buddy Studio will help you by fulfilling those orders. You’ll have established a name for yourself and a reputation for SpeedPro in your community before ever turning on the lights.

The Ramp Up program is designed to not only get your SpeedPro studio established in your community quickly but also to speed up your return on investment and get you to the break-even point quicker than if you had to wait until your studio was open for business.

Our startup programs and ongoing support are proven ways to get you down the road to profitability. Take a look at what the top 25 percent of revenue generators did in sales and their profits in 2017*, according to Item 19 in our FDD:

  • Average gross sales: $1,007,383
  • Average gross profit: $648,808
  • Average gross margin: 64.2 percent
  • Average owner’s discretionary profit/EBITDA: $208,241
  • Growth in same-store sales: 9 percent

Support is Everywhere

The saying in the franchise industry, “You’re in business for yourself, not by yourself,” is evident at SpeedPro. Training and support do not end after you’ve opened the doors to your SpeedPro studio. Although our startup processes are thorough, you will inevitably have questions as your business matures. At SpeedPro, we offer several sources to help answer your questions and solve your issues quickly. Here are the resources you have access to as a SpeedPro franchise owner:

  • Home office support team – available to help in myriad ways, including production, equipment, software, email, website and marketing
  • SpeedPro University – online learning center and resource center
  • Webinars – cover finance, sales, best practices and other topics
  • Field consultants and regional developers – available for one-on-one business planning and coaching
  • Annual SpeedPro convention – a time to meet other owners and take advantage of the collaborative spirit of the entire SpeedPro network

We All Stand Out Among Competitors

When you succeed, the entire brand succeeds. Therefore, it behooves us to help get our franchisees up and running quickly and profitably. Our franchisees are the go-to-source for your local businesses as well as marketing firms, ad agencies and blue-chip corporate brands. We’re leaders in the wide format printing industry because we provide the highest quality graphics for our target customers. They, in turn, value their SpeedPro partner that is focused on providing the right solutions with exceptional client service. Because of this, SpeedPro Imaging stands out among the competition and commands premium pricing.

To learn more about what sets SpeedPro Imaging apart from other franchise opportunities, visit our website.

*These figures are included in the 2018 SpeedPro Franchise Disclosure Document (the “FDD”) and involve the average sales information for the twenty-six SpeedPro Studios that comprise the top 25% (based on their 2017 fiscal year financial performance) of the 107 SpeedPro Studios that have been in operation for at least two years and that satisfied the other reporting criteria set forth in the FDD. Within the top 25%, 10 of the 26 SpeedPro Studios met or exceeded the average Gross Sales figure, 8 Studios met or exceeded the average Gross Profit figure, and 14 Studios met or exceeded the average Gross Margin figure. The Gross Sales, Gross Profit, and Gross Margin figures are based on each franchisee’s actual 2017 fiscal year unaudited financial statements submitted to SP Franchising LLC. Your financial results are likely to differ from the figures presented.