Bad EconomyGreat Opportunities

Thomas E. LunneySCORE, Cincinnati, Ohio

What Can You Do?

“A wise man will make more opportunities than he finds.”

Sir Francis Bacon

What Is A Bad Economy?

One where you are making less money. One where you are spending less

money. One where your kids moved back in with

you. One where your parents moved in with

you.

What Really Is A Bad Economy?

Record Unemployment. Closing of Businesses. Cuts in Spending. Negative Press. Bottom Line - Fear.

Great Opportunities?

Yes – There are Plenty! Service Industry Franchise Small Business

Who Will Help? Shop 52 SCORE Private Industry

Service Industry Opportunities

Health Home

HVAC Auto Repair

Food Service Specialty Restaurants Franchise

Green Jobs

Franchise Opportunities

It is not just food. Research work has been done for you. Requires a substantial up front payment

by potential owner. You still have to work.

Small Business Opportunities

Small business is going to get us out of this bad economy.

Starting a small business now is better than ever.

Financing a startup business requires about 20% from owner.

Concentrate on your local community.

Small Business Opportunities

Auto repair Dog grooming Barbeque sauce Specialty restaurant Part time job placement Social media maven Baby sitting service Professional networking community

State Economic Growth

Source: U.S. Department of Bureau of Economic Analysis Updated: 6/2/09

Provided by Jeni Middaugh, VP UDF

What About Home Construction?

Only two areas in US are showing growth in this area Texas Coastal region of the Carolinas

Everywhere else new home construction was overbuilt Enough surplus for the next 3 years. More people remaining in their homes

longer.

Provided by Jeni Middaugh, VP UDF

Summary

Decide how can you serve your target market better than the competition?

What is your competitive edge? How can you tailor your products and

services, pricing, distribution and promotional efforts to your advantage?

How do you address consumers’ needs that are not being adequately met?

Final Thoughts

There is more opportunity for you today than at any other point in history.

You can succeed in this economy. Be honest in your appraisal of yourself

and your business. Think of an airplane

Reuse? Crash?

First Panel – Getting Started

Dick Munson FranNet

Bruce Vaillancourt Techsolve

Richard Harris P3 Secure, LLC

Small Business Discussion

Bryan Valerius Ace Hardware - Clifton

Tom Lunney SCORE Counselor

Second Panel

Dick Munson FranNet

Barb Yankie Green Building Consulting

Jim Dahl RetroTax

Questions for First Panel

What is a Franchise? How is it different from just starting a

business? Is Franchising just Food?

Questions for First Panel

How do you engage your customers to build loyalty, generate publicity and create interest?

Questions for First Panel

How does the current interest in green businesses translate into starting a new business venture?

Questions for First Panel

How should business owners determine what government opportunities there are in their communities? Federal State Local

Questions for Ace Hardware

Tell us about your hardware store. How did you identify your target market? How do you intend to segment yourself

from other hardware stores? Why did you decide to locate yourself in

Ludlow? What have you learned about marketing

that you would not do again?

Questions for Second Panel

Why do I need to be a franchise? What is the value of a franchise long

term?

Questions for Second Panel

What are some of the tax and other government incentives that a small business can benefit from today?

Questions for Second Panel

What are the best ways to enter into green businesses?

What are the current and future green business opportunities here in the Tri State area?

Questions for Second Panel

What are the common mistakes you see for maturing businesses?