How a Sign Shop Doubled Their Sales
London, KY, January 7, 2020 – For every business, there is a life cycle, and for each part of the cycle, there is at least one challenge, and at least one effective solution for each challenge. This is the heart of business consulting, and a view that Teresa M. Young, President/CEO and her team at Sign Biz, Inc. have validated for over 30 years.
To improve a business, a little bit of change can make a big difference. When the change is multiplied, and executed with determination, the results can be nothing short of transformational. Such is the case with a small sign shop that used to be known as “Banners, Signs & Etc.,” in rural London, KY. They were in business for 22 years before they launched the services of Sign Biz, Inc., under the conversion program for existing sign shops. “This was just three years ago, and the results are extraordinary, and a testimonial to the commitment the owners made to the process,” explains Young.
Leap of Faith
Jay and Claudia Nolan, owners, took a deep dive of faith, and followed a business plan including a name change to Kentucky Sign Center, new branding elements and website, hiring new personnel, growing the physical space and product capabilities, sales support staffing, and more. Jay Nolan also overhauled the chart of accounts to match the Sign Biz model, focusing on financial metrics and training a new accounting team. Nolan recapped the results just last month with this unsolicited testimonial:
“Teresa, Wow! Just completed reviewing our FY 2019 sales results for Kentucky Sign Center. 3 years ago, we affiliated our shop with Sign Biz network, and in that short time our sales have doubled! We officially broke through our $500K goal, ($504,871 in sales from Nov. 1, 2018 to Oct 31, 2019).”
The Nolans’ hard work paid off. Not only did they overcome growing pains, such as losing a key employee and so spent time and energy hiring / retraining during the year, but they also expanded offerings in a dramatic way. The sign shop grew from a 972-square-foot area to a 2,200-square-foot new shop location, and installation services were added. The latter entailed hiring a whole new installer team. “The business model was now allowing the business to grow,” adds Young.
To build on the groundswell of new marketing and product offerings, a grand re-opening of the business took place (see related story here).
Other critical elements of a successful transformation include a great management team – the owners have a passion for growing the business. “The Nolans had the foresight to know they wanted a knowledgeable partner for navigating expansion. We worked together,” explains Young.
In addition to hitting their goals, they also upgraded capabilities by purchased a new Roland VG2-640 model printer/cutter from Sign Biz, Inc,(photo, top) and in November, they purchased a bucket truck.
Focus on the Future
A four-part business system is used in the assessment of any existing sign shop as the foundation for the work to come, preparing for the “second story.” Young developed this system based on her decades of consulting work. It looks at 12 dimensions of business broken into four areas of focus: Passion, Communication, Orchestration and Destination. For more about Young’s consulting model, read the April, 2020 issue of Signs of the Times magazine.
Jay adds, “Amazingly, thanks to lots of hard work by our great crew, plus the cost savings, advice, networking, and other benefits gained from Sign Biz, our profitability enabled us to pay for all this completely this year – without going into debt!”
Jay summed up, “As you know, I was skeptical about your system working in a remote, rural area like the beautiful hills of Southeast Kentucky. Admittedly, we did have to make some adjustments, but overall, your system worked for us! Thanks again for all your help! What an amazing organization you have created!!”
About Kentucky Sign Center
Kentucky Sign Center specializes in unique sign and print solutions for all businesses. Our team is made up of problem solvers and strategic thinkers dedicated to the success of both our clients and our business. We are family-owned, honest and ready to bring any visual communications concept to completion. Our combined century of experience means you can count on us for well-designed communications. We know the impact this has on your bottom line. Give us any brand, advertising or informational sign or print need, and we guarantee your satisfaction. Visit them on the web: KYSignCenter.com