My dad used to say if a business was super successful they had “a license to print money.” He tried his hand at business, twice without much success. His father, my grandfather owned a few restaurants, and despite working hard, he never achieved wealth. They both taught me valuable lessons in business.
“Give people a good meal, at a good price, and smile when you give it to them,” Grandpa Saunders told me one time. It’s a simple lesson, but one that can be applied to any business. Good product + good value + good service = happy customers.
The fortunate companies who are highly profitable and have a never-ending supply of customers who want/need their products and services seem to have discovered something else. Location, location, location. Think about it.
If I ever wanted to open a pizza place, I’d choose Venice Beach. I’d put my liquor store in Green Bay, Wisconsin. I’d plan my funeral parlor for Clearwater, Florida. I’d open an HVAC company in Scottsdale, Arizona. If I bought a weight loss franchise like Jenny Craig, I’d put it smack dab in the middle of Philadelphia.
Why? Because Venice Beach gets more tourists than Disneyworld. Green Bay has the highest per capita alcohol consumption in America and Clearwater has the highest percentage of adults over 70. And sorry Philly, you’re America’s fattest city.
Maybe you are fortunate enough to have “a license to print money,” but if you don’t, the only way to achieve ultimate success is a great brand and well-executed marketing plan. Call me. I’m a licensed professional.