Looksmart Alterations
Fadi Mikhael,
Garden City Shopping Centre,
Booragoon, WA
Started 2000
Why did you choose this franchise?
I chose it because it had low entry costs, particularly for retail. We don't hold stock except for threads and zips, so there are no perishables. We sell a service and there are no early starts or late finishes, I work six not seven days and that's attractive. If the business is slow, we send our casual tailors home so we don't have such a cashflow issue.
What were your expectations when you first started?
When I moved from Sydney to Perth, I thought it would be a lot less competitive, be easier to be a prominent business. And I have achieved that. Businesses are really very successful in WA and the lifestyle is easier to manage.
How has the business developed?
In Garden City (I have three stores) it is fantastic growth - 20% year on year turnover. But we don't just service individual customers, we service the local fashion stores too. It's a great business to be involved in. The company diversified a while ago, introducing dry cleaning, embroidery and invisible mending. I'm happy with this. Now I assist with new store openings in WA.
What would you do differently now?
I would like to be able to have more space. I think we can grow even faster. We have queues on Thursday nights and Saturdays and every year I add more machines, so the space is difficult for the tailors and the customers - we have only two fitting rooms and I could do with three or four. But rent is so expensive.
What advice would you offer a new franchisee?
Work in your business for up to two years before you consider putting in a manager. Be receptive to the franchise system, it's been tested. Treat your customers like gold and your staff like platinum. And you don't have to know how to sew!
Rabie Mtanos,
Canberra, ACT
Started 2007
How long have you been a LookSmart franchisee?
I have been with LookSmart Alterations for 15 months
What attracted you to the business?
The potential for growth was my initial attraction to the retail franchise, the idea of having more than one store, even two in the same centre.
The low running costs such as stock were definitely a factor as I am not very good at keeping up to date with logistics like ordering and receiving consumables and conducting endless stock takes. The beauty of this is being able to order stock to last you up to three years.
Probably one of the most appealing features of the business are the relaxed shopping centre hours, which to my pleasure do not involve early starts or late closing times.
The ability to offer friendly and honest advice to customers along with creating fashion networks within the centre are also reasons why I wanted to be involved with LookSmart!
What were your expectations when you started?
I think it is really important when starting a business to enter it with an open mind and honest approach. However in saying this, it is of course human nature to make assumptions. I really thought I would find it difficult to pick up on the sewing and styling terminologies in order to communicate with tailors. Once I started though, it became my second language in a matter of weeks.
What has been the biggest challenge?
The biggest challenge has been utilizing the store space to its maximum potential. It's quite a limited space and the sales are growing rapidly, so finding a way to maximise the room has been our greatest challenge.
What are you goals for 2008?
This is a big year! I hope to be operating remotely by the end of the year in order to be a multi site owner.
What has surprised you about the franchise?
The benefits of close relationships with fashion stores, proved to be an integral part of growing the franchise. I was suprised at the value these associations bring to the business. The potential of profit margins were also pleasantly higher than expected. It all comes down to providing an efficient service that no one out there can compete with, all while smiling! 17.06.2008
FCA Member
Contact LookSmart Alterations
33A Cowper St
Granville
Sydney
NSW 2142
Tel: +61 2 9637 8222
Fax: +61 2 9637 8200
