3 December 2015

Is this your new business? Bedshed franchises available in North East Queensland

Have you ever considered the possibility of becoming a franchisee?A unique opportunity is currently available to own a Bedshed franchise in North East Queensland!

This is an exciting opportunity for someone who is looking to joina franchise with an existing loyal customer base and a proven reputation. Our North East Queensland stores have been operating successfully for many years, meaning there is no need to build the businesses up from scratch.


20 November 2015

5 Steps to finding the right business


Deciding to invest in a business is a big step in itself; it’s a lot of money and a lot of responsibility.    Once you have decided to take the plunge, your next step is critical – what business do you buy? Is it an independent business or a franchise? This guide will help you make the right choice for you.

Be prepared…
It’s no secret that the world is changing, and the words ‘digital transformation’ are on everyone’s lips. Before you commit to a business, you should have a clear picture of how you’re going to evolve the business, stay competitive and stay relevant. If the business is a franchise, ask the franchisor about their future-proofing strategy - if there’s no plan in place, it could be a warning sign.

Investment vs. career
It seems simple, but know whether you want to buy the business as an investment, or actually work in it day-to-day. The type of business you choose will be very different if you are buying it as an investment not a career.  Smaller franchises like a coffee cart business will generally require you to be an owner/operator, while some larger franchises are better structured for investors. Most independent businesses will require you to work in the business so if you take this path, you should choose something you’re passionate about.

Know your own mind
It’s important to understand what you want to achieve from the outset. Do you want a business that will make a huge profit in a short amount of time? One to hand down to your children? An individual business, or one with the potential to expand? The other thing to consider is how risk averse you are. If you’re willing to take a gamble and bet on yourself, an independent business could be for you, but if you prefer to play it safe, you might consider a franchise which takes some of the risk out of buying a business. Without a clear picture of what you want from the business, it’s impossible to see that vision realised with your purchase.

Mind the gap
Be confident with the skills and knowledge you bring to the table, and even more importantly, know what you don’t know. Where do you already have the skills (many are transferable from other industries) and where do you need to grow your skills? If you’re buying an independent business, you may need to seek external training to upskill in particular areas and bridge this gap.

Be budget conscious
Knowing how much money you have to invest in the business will automatically discount a lot of options. The trickier part is figuring out which of the businesses within your price range have the capacity to earn you more money over the long term. Some franchises are accredited by banks, which makes it easier to get a loan to buy into that business. The best place to start is to do the sums on how much cash you have upfront and how much you could borrow. Then ask the right questions about the earning capability of each business you’re considering so you have the full picture!

 


2 November 2015

Three mistakes people make when starting a business

Starting a business is an exciting time. Indeed, after years of working long hours for the boss, going out on your own seems very appealing. Fiery entrepreneurs will have no qualms diving head first into a new venture but, for most of us, the fear of failure lingers. When one’s life savings, relationships and lifestyle are on the line, it’s important to take the time to get things right.

Whether you’re taking on a franchise, buying an existing business or establishing a start-up, starting a business comes with a never-ending list of challenges and, while each business is unique, there are a few common mistakes that people make when starting out.

1.      Trying to ‘do it all’

Your business is very much like your baby and it’s easy to feel obligated to do everything yourself. If you’re buying a franchise, the franchisor will generally provide a lot of support, particularly in the early stages. When launching a start-up, taking on the brunt (if not all) of the workload is a logical means of cutting costs. It’s also a sure-fire way of running yourself into the ground. Spreading yourself too thin, instead of delegating, is a recipe for disaster and can have significant financial and emotional consequences in the long term. Take the time to pull up and consider the tasks on your ‘to do’ list. Chances are, they’re not all things you MUST do yourself and often employing the assistance of an expert in areas where you lack specialist skills (eg in marketing or IT) will make you more successful in the long term.

2.      Spending too much time on the wrong things

Prioritise, prioritise, prioritise. Write lists. Set reminders. Whatever it is you need to organise your time efficiently, do it! As a business owner, you’re constantly being pulled in 100 different directions and it’s difficult to work out what’s important when everything seems to require your input. It’s also very easy to get carried away with menial, insignificant tasks instead of prioritising those most urgent. Be ruthless on what you will and won’t do and in what order. Think about the five things you would like to have achieved by the end of the week and keep your eyes firmly fixed on those tasks without getting distracted by the little things. 

3.      Leaving marketing as an afterthought

New business owners are often so involved with and excited by their product/service that they forget they need a strategy to sell it. Neglecting your marketing strategy, or not having one at all, can be a major setback for your business. Without good marketing you have no customers and without customers, you don’t have a business. It seems simple, but it’s something many new business owners forget. Most franchisors do the marketing for you, but if you’re going out on your own, it will be critical to ensure you’re doing everything you can to bring customers through the door.

Originally appeared in Dynamic Business


18 October 2015

Marketing gets a boost

We’re delighted to announce we’ve just boosted our marketing team here at Bedshed with two brilliant new hires. Luke Clarke joins Bedshed as National Marketing Manager, with Daniel Fordyce stepping into the role of Assistant Marketing Manager/ Digital Specialist.

Luke has over fifteen years’ experience managing brand image, with recent roles at Industrial Recruitment Partners and Minkz Furniture and Homewares, along with managing the marketing for 200 trade stores in the UK.
Daniel has more than ten years’ experience in the marketing world and has recently driven digital campaigns for the likes of American Express and Tourism Western Australia.


29 September 2015

Building brand trust - and keeping it

In conversations with franchisees and other friends in the industry this week, I’m again reminded of the importance of trust when building your brand. I’ve been in business for 25 years, and along the way I’ve picked up a few tips on how brand trust can be built and maintained.

Be honest


10 September 2015

Relationships matter

"You can take my factories, burn up my buildings, but give me my people and I’ll build the business right back again."

These insightful words are those of great businessman Henry Ford, and they got me thinking about what we’ve learned about great customer relationships here at Bedshed, and the three great benefits of prioritising relationships in business.


10 February 2014

Bedshed leads with Global Trends

Bedshed executives and franchisees have just returned from an international tour to ensure the brand remains a leader in and out of the bedroom.

Chief Operating Officer, Gavin Culmsee and National Merchandise Manager, Les Sevel visited a series of trade shows and retail flagships in Germany, the United Kingdom, New York and Los Angeles before joining a number of Bedshed franchisees at The Las Vegas Market show.


18 October 2013

King is the new Queen

More Australians are buying king size beds than at any other time in history, according to one of Australia’s longest running and most successful franchises.

Gavin Culmsee, Chief Operating Officer at Bedshed, said sales of king size beds had risen 20 per cent in the past five years.


9 October 2013

Bedshed wins superstar award for innovative in-store technology

Retail TouchPoints has awarded Bedshed a gold medal in its Customer Engagement category for the bedding franchise’s interactive, state of the art, in-store touch screens.

In its second annual Store Operations Superstar Awards, Retail TouchPoints recognised Bedshed’s touchscreen solution, which contains a motion detection device designed to directly respond to customers.


2 September 2013

Bedshed shortlisted in Melbourne design awards

Bedshed’s industry leading and interactive in-store touch screens have been shortlisted in the 2013 Melbourne Design Awards, celebrating design innovation and technology.

Bedshed Chief Operating Officer, Gavin Culmsee, said the Australian-first retailing technology has proven to be very successful in the two stores currently operating the 42” concierge screens.