INSIGHT
Monthly Success Newsletter January 2021 Edition
Entering 2021 Shows How Success Looks In The Rearview A Message From Our CEO, Charles J. Bonfiglio Happy New Year, Tint World® family! 2020 is officially in the rearview mirror and many of us were eager to leave skid marks out of that wild ride. But, as we look at where we are and where we’re going, it’s important for us to also reflect on where we’ve been and some of the good things we’ve learned along the way. As owners, we know happy employees are more productive and engaged. A recent study showed employees with high morale increase profitability by as much as 21%, while decreasing absenteeism by 41% and turnover by 59%. Those numbers are important – but as a franchisor, I’m also taking inventory of how our franchisees have been able to navigate the back roads. Same store chainwide sales have throttled up by over 20% in 2020! As a result, many current owners have chosen to open up additional locations, a true testament to our shared confidence in the brand…and themselves! We’ve also had several franchisees relocate to a larger location, putting them on the fast track to the million-dollar club. With rates as low as 3.75% from the SBA, and terms extended from 10 to 25 years, there’s never been a better time to take advantage of opening additional stores in your market area! Tint World® has also awarded more new licenses this year than we’ve ever done in years prior, and we’d like to thank our franchise owners for assisting with franchise validation. Plus, of those new franchisees, we’ve awarded more multi-units than ever before...talk about teamwork! Let’s also keep in mind that this was done in an environment that was influenced by COVID, economical/social impacts, murder hornets…and yet we still broke records. This is something we’re all incredibly proud of as we’ve shifted gears into 2021! Speaking of new licenses, we would have also opened a record number of stores this past year – 21 of them to be exact! Not for lack of trying…but because we were held back on construction buildouts due to COVID. All in all, we opened a total of 7 stores in 2020, however, thanks to streamlining our buildouts, the remaining locations are on track to open by the end of the first quarter this year. We’ve also had several locations double their same store sales over the prior year. Plus, three new locations into the $1 Million Dollar Club, one new location into the $2 Million Dollar Club, and a New Store Sales Record of over $2.8 Million (up $1.6 Million in sales from a year earlier)! While there are plenty of reasons for us to be glad we’ve exited off Interstate 2020, it’s just as important for us to stop and appreciate how blessed we’ve been to achieve this level of success in our pandemic-proof, essential business industry. Despite the roadblocks and barricades you encountered; you held yourselves to high standards and kept on the route to success. Let us not look back on 2020 for the bad, but as a benchmark for our goals as we shift gears into 2021!
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