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AdvisorNet

Do you have resources to expand small businesses?

Veteran

Kristy Williams Lake Elsinore, CA

I am looking to expand my barbershop and looking for direction in the real estate industry.

26 February 2019 9 replies Leadership & Management

Answers

Advisor

Jeremy Serwer Woodstock, CT

Hello Kristy,

I'm a Retail Real Estate Consultant and Broker. I've run retail stores and continue to operate in retail real estate in multiple states.

I'd be happy to connect with you. I'm reachable via the ACP website, or at 860-928-7660, or jeremy@theserwercompany.com.

Good luck!

JS

2 March 2019 Helpful answer

Advisor

ACP AdvisorNet Staff New York, NY

Hi Kristy,

Thanks for writing, and thank you for your service!

For information on expanding your small business, check out the below:

Expanding Your Business - https://www.foxbusiness.com/features/6-tips-for-expanding-your-business-regardless-of-the-economy

10 Ways to Grow Your Business - https://www.entrepreneur.com/slideshow/299772

The Nuts and Bolts of a Great Business Plan - https://www.acp-usa.org/sites/default/files/resources-files/NutsandBolts2014.pdf

SME Toolkit - http://www.smetoolkit.org/en

For more advice, feel free to check out our community page and search for Advisors with expertise in small business and real estate. They will be able to provide more direct, poignant advice on how best to approach your situation. When you find an Advisor with the background you're looking for, you are welcome to message them privately with your question.

I hope this is helpful!

All the best,
Caitlin

26 February 2019 Helpful answer

Advisor

James Mingey Oregon City, OR

Hi Christy,

If you're using a contractor model (1099s) in your shop, you might want to consider understanding how Vocational Rehabilitation (Chapter 31) Self-Employment Benefits could help train and support new Disabled Veteran contractors. Benefits can include automated marketing software and training for promoting individual books of business under your marketing system.

I specialize in the Voc Rehab SE area and would be happy to talk to you further.

Advisor

Ryan Brown Melbourne, FL

Hi Kristy,

Everyone provided great feedback. I would just add getting to know your local chamber of commerce. They typically have a lot of small business resources for the county.

I hope this helps. If you have additional question, please don’t hesitate to reach out.

Advisor

Jo Prabhu Long Beach, CA

I used to own a Full Service Hair Salon. I did not have to do any marketing as my 3 kids from elementary through high school brought me tons and tons of business. Their friends, teachers, parents, grandparents, Aunts, Uncles, Cousins, Neighbors, Real Estate Agents, Neighboring Business Owners, their Doctors and their employees all became customers.

What worked best was the Buy 5 get the 6th one FREE card I handed out to each customer. I was always assured they would come back at least for the 6th time. I offered plenty of discounts but it allowed me to put my 3 kids through school, college and I was able to buy 2 homes with lots of material comforts!

If you don't have kids, just advertise in your local church newsletter or make friends with the Pastor's wife. Church members make up the same demographics and they are extremely loyal! Hope this helps. :)

Advisor

Karen Shockley Marietta, GA

Congratulations on the success of your barbershop, Kristy! My best advice is to build your portfolio by branching out into areas that can serve as an additional revenue stream. You mention real estate... as someone from the Bay area, I know that parking is a rare commodity. Consider buying (not renting) a property with a parking lot that can be rented out to a nearby area venue. It's good to work without working! Continued success, my friend!

Advisor

Tim Feemster Dallas, TX

You should definitely connect with a local commercial real estate broker that specializes in retail to discuss your needs. Their fees are paid by the landlord but the broker representing you should not work for the same company as the landlord if possible and should indicate they do if that is the case due to a potential conflict.

Advisor

William Smith Suffern, NY

Hi Kristy

You should contact your local SCORE office. Score is affiliated with the SBA. Score is set up to help small buisness owners with various business issues. The services are free.

Best of luck
Bill Smith

Advisor

Paul Tusting Salt Lake City, UT

Here are some resources:

Office of Veterans Business Development
https://www.sba.gov/offices/headquarters/ovbd
https://www.sba.gov/business-guide/grow-your-business/veteran-owned-businesses

Small Business Development Centers - Small Business Administration
https://www.sba.gov/sbdc/

Service Corps of Retired Executives
https://www.score.org/

VA SMALL AND VETERAN BUSINESS PROGRAMS
https://www.va.gov/osdbu/programs/
https://www.va.gov/osdbu/faqs/entrepreneurs.asp

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