November 27, 2019 · 5:53 pm
Because it’s the day before Thanksgiving here in the US, you’re getting the weekly Foodie Friday screed today. It’s a post I wrote in 2012 about another post I wrote in 2008. Many things have changed in my life and the lives of my family members since it was written. We’re more scattered geographically. We’ve had deaths and marriages. We all won’t be together this year physically but in some ways, the separation has brought us closer together.
In any event, the thinking behind this post of a post hasn’t changed. Have a great holiday wherever you and your family may be!
Several years ago I wrote a pre-Thanksgiving post on the “three f’s” of the holiday. You may recall that I described them as:
(Photo credit: Wikipedia)
- “F” number one is Family. It’s the thing for which I am most thankful. Having them here at this holiday is a labor of love and I hope they’ll all keep showing up for many years more.
- “F” number two is Feasting. We do ask everyone to bring something – an appetizer, wine, or a dessert, usually. Obviously, it’s not because it lightens the workload very much but because it makes them a part of the process. It’s OUR meal as a family and our shared celebration. The word “feast” comes from the same root as “festival” (yes, it’s also the same root Seinfeld used for “Festivus“) and we try to make it one. All those days of prep come together in a 45-minute orgy of eating. This holiday is very much like Christmas or Hanukah in that way – you prepare for quite a long time and then it’s over way too quickly.
- “F” number three is Football. This is America’s national sport and we’re very much a sports-oriented group. I’ll never forget my Uncle Harry who would sit with us every year and watch the games. “I don’t understand,” he would say, “they all fall down, they all get up, they do it again. What kind of game is this?” It could be paint drying – the point is that it’s a family ritual and through it, we bond.
They haven’t changed. Our family has been challenged this year by many of the same things that millions of other families face. Illnesses, the economy, wacky weather, and the other day-to-day events that keep it…interesting… Even so, we’re very fortunate and tomorrow will be a day to remember that. If anything, the adversity has pulled us even closer.
I’m very thankful, among other things, for those of you that take the time to read the screed every once in a while. I appreciate your comments when I hit home and even more so when I miss the mark. Have a great holiday!
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November 22, 2019 · 4:29 pm
The topic for this Foodie Friday is the grocery store. Think for a minute about where you do the bulk of your grocery shopping. Is the merchandise that it carries substantially different from one of its competitors? My guess is that it probably isn’t. All the national brands are there and the same person who stocks the snack or bread aisle at your store might have left a competitor twenty minutes earlier. So why do you go?
We had a Wegman’s open here. The lines to get in were HOURS long. I’ve never shopped at a Wegman’s but those who have proclaimed their undying loyalty. There’s been a rumor floating around my neighborhood (since confirmed!) that a Publix will be opening in the not too distant future. People who’ve missed their sandwiches and service are swooning. In the case of these two stores, they separate themselves from everyone else in very clever ways; Wegman’s via setting themselves up to feel like a European marketplace and Publix via their signature subs.
Some of it is just smart branding. While my local Harris Teeter and Lowe’s Foods both make various types of sausages in-house, Lowe’s brands the entire operation as The Sausage Works and gives each type of sausage a clever name. They even sell “My Sauageworks” tee-shirts (and you can imagine the looks I get when I wear mine in public). They pride themselves as being the Best Of The Wurst and are constantly inventing new flavors such as their newest, The #63 Philly, which they describe as a brotherly love blend of chicken sausage, mozzarella, green peppers, onions, mushrooms, and spices. No commodities here but while both stores sell the same basic sausages, Lowe’s goes the extra mile and can market behind it.
I think may business sectors have become quite commoditized. When I was running a sports site, we would often remind ourselves that people can get a game score or most statistics anywhere. The only way we could compete was to provide something unique, better, and in-demand. I think every business needs to think of itself in terms similar to that, even if you really do have unique aspects baked in. It won’t be long before someone has what you have and maybe is offering it on better terms.
Why do you shop where you shop? If “better prices” is the only answer, that store might have trouble the minute a competitor decides to price match. It’s much harder to match a better experience or unique merchandise, no matter what business you’re in. Don’t you agree?
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November 20, 2019 · 4:26 pm
One question that often comes up as I’m discussing franchise opportunities with people is that of what businesses are “hot.” It’s interesting that “hot” comes up at least as often as “profitable”. I can answer the questions for them (and usually do), but I also add a couple of other thoughts. That’s our topic for today.
For those of you that are curious, what’s currently “hot” in the world of franchises falls into a few broad categories. Within the food sector, breakfast places, juice bars, Mexican food, and healthy bowls are doing well. Restoration services – businesses that clean up after accidents or disasters are hot as well. Some of the other categories that are in demand are childcare, pet services, fitness businesses, and some “alternative” health businesses (cryotherapy, etc.), and beauty/grooming. As an aside, I represent businesses in every one of these categories – let me know if you want to learn more!
I’ll review those categories with interested candidates but then I caution them and I’d like to do the same here. Many of the businesses in those categories are “sexy” but several are not particularly profitable. When you’re thinking about making a huge life change, which is what many of the folks I speak with are doing, you need to take a step back and look at the big picture. It’s not about what’s hot because what’s hot today may be gone tomorrow. Think about businesses that were all the rage a couple of years ago. Yogurt stores (yes, I have some of those too) seem to be fading away. Most of the “daily deal” sites have consolidated or gone away. Same with many of the subscription box services. The tanning bed business has transitioned into a spray-tan business.
My point to them, and to you, is that focusing on what’s hot isn’t a great criterion as you’re looking at new opportunities. Instead, ask yourself what makes you happy. What can you see yourself doing every day that will have you excited about getting out of bed? The odds are that there is a franchise that will allow you to do that. Some folks are equally concerned (or more concerned) with making money. Many of the businesses that do that aren’t “sexy.” They’re things like home repair or remodeling businesses or they’re businesses that might require a higher level of capital like a senior care business where you might need to “float” a payroll until cash flow grows.
Businesses ebb and flow. Categories run hot and cold, but what makes you happy probably doesn’t. Add profitability to the mix and you’re on the right track, whether it’s hot or not.
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