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Single Unit Franchise Model
In a Single Unit Franchise, you (the franchisee) will have the opportunity to purchase a single location as an owner/operator with the full support and backing of ProFab Alliance & Nix Industrial (the franchisor). This model requires the franchisee to have direct experience with the metal fabrication and/or machining industries, as well as time and capability to learn the necessary skills and systems within ProFab. The opportunities within a Single Unit Franchise include metal fabrication shops, machine shops, field service trucks, and bolt-on powder coating shops.
Conversion Franchise Model
The Conversion Franchise Model is very similar to a single unit franchise. The primary difference is the future owner/operator (franchisee) is already the owner/operator and wants to convert their business into a franchise to gain the full support of ProFab Alliance, or the future owner/operator (franchisee) is an employee or child of the current owner/operator. This model oftentimes can include less training as the franchisee is already knowledgeable within the business.
Soft Skills
Hard Skills
ProFab Alliance and Nix Industrial will not provide direct financing to franchisees. However, they will attempt to negotiate favorable payment terms with suppliers to the system. It is also in ProFab’s best interest to develop relationships with lending institutions and other alternative vendors that can support franchisees through the financing process. Common approaches to franchisee financing include (1) Friends and Family, (2) Securities backed Line of Credit, (3) Traditional Bank Term Loans, (4) Small Business Association Guaranteed Loans, and (5) Rollover Business Startups Funding.
SBA Guaranteed Loans
SBA backed loans are the most common form of franchise financing with more than 70 years’ history in financing small businesses in the United States. The primary requirements for SBA Loans include a credit score of at least 690, no bankruptcies in the past three years, a 10% down payment, and a clean criminal history. There are many banks that have experience in processing SBA Loans, but there is a Preferred Lenders Program (PLP) where select lenders are given more authority to process, close, service, and liquidate SBA Loans.
Your coach will be involved in your journey from day one. They will get to know you, your team and your franchise. Their industry experience will provide you with coaching, direction, and accountability towards your plan. They will also serve as the liaison to pull in other specific areas of expertise as needed. Interactions with your coach will be routine from planned weekly and bi-weekly meetings to impromptu conversations and check-ins.
Accounting & Finance
Accounts Receivables & Payables, Payroll, Sales Tax, Profit and Loss Statements, Aging Reports, Balance Sheets, Cash Flow Statements, and Budgeting is a lot to understand. Even if you hire someone else to process some, or all, of these services for you, having a solid foundation in financial and accounting management is critical to the success of any organization. In the simplest form, it can give you a clear understanding of how you are doing and assist you in making sound business decisions.
Human Resources
From hiring the right employees to training them to reach their fullest potential, Human Resources is one of the most time consuming components for owners of any fabrication or machining company. Human Resources can be the tool that separates businesses from the rest. If you hire the right people, onboard them to your systems and culture, and develop effective communication for feedback, the operational efficiencies and maximized profits will follow. Through the ProFab Alliance, members will gain access to exclusive management systems developed from years of relevant industry success and one on one support from Human Resources professionals.
Sales & Marketing
Marketing is not just about creating fancy brochures or websites. All of this matters, but marketing is simply what attracts and connects you with your customers. Understanding who you are as a company and why you exist are primary examples of messages that a fabricator and machine shop need to convey to their customers and prospects. If done correctly an organization’s brand and marketing can increase awareness, trust, and credibility within a defined target customer base. By doing this, you can spend more time and energy on customers and projects that will deliver success.
Operations Excellence
Operations Excellence refers to the execution of an organization’s vision, mission and strategy in a safe, consistent, and reliable manner. Within the fabrication and machining industries, safety, quality, and efficiency are extremely important. You cannot sacrifice one without affecting the others; they are all important components to an organization’s future success. Therefore, all must be developed together to minimize the risk and increase results.
Single Unit Franchise Model
In a Single Unit Franchise, you (the franchisee) will have the opportunity to purchase a single location as an owner/operator with the full support and backing of ProFab Alliance & Nix Industrial (the franchisor). This model requires the franchisee to have direct experience with the metal fabrication and/or machining industries, as well as time and capability to learn the necessary skills and systems within ProFab. The opportunities within a Single Unit Franchise include metal fabrication shops, machine shops, field service trucks, and bolt-on powder coating shops.
Conversion Franchise Model
The Conversion Franchise Model is very similar to a single unit franchise. The primary difference is the future owner/operator (franchisee) is already the owner/operator and wants to convert their business into a franchise to gain the full support of ProFab Alliance, or the future owner/operator (franchisee) is an employee or child of the current owner/operator. This model oftentimes can include less training as the franchisee is already knowledgeable within the business.
Soft Skills
Hard Skills
ProFab Alliance and Nix Industrial will not provide direct financing to franchisees. However, they will attempt to negotiate favorable payment terms with suppliers to the system. It is also in ProFab’s best interest to develop relationships with lending institutions and other alternative vendors that can support franchisees through the financing process. Common approaches to franchisee financing include (1) Friends and Family, (2) Securities backed Line of Credit, (3) Traditional Bank Term Loans, (4) Small Business Association Guaranteed Loans, and (5) Rollover Business Startups Funding.
SBA Guaranteed Loans
SBA backed loans are the most common form of franchise financing with more than 70 years’ history in financing small businesses in the United States. The primary requirements for SBA Loans include a credit score of at least 690, no bankruptcies in the past three years, a 10% down payment, and a clean criminal history. There are many banks that have experience in processing SBA Loans, but there is a Preferred Lenders Program (PLP) where select lenders are given more authority to process, close, service, and liquidate SBA Loans.
Your coach will be involved in your journey from day one. They will get to know you, your team and your franchise. Their industry experience will provide you with coaching, direction, and accountability towards your plan. They will also serve as the liaison to pull in other specific areas of expertise as needed. Interactions with your coach will be routine from planned weekly and bi-weekly meetings to impromptu conversations and check-ins.
Accounting & Finance
Accounts Receivables & Payables, Payroll, Sales Tax, Profit and Loss Statements, Aging Reports, Balance Sheets, Cash Flow Statements, and Budgeting is a lot to understand. Even if you hire someone else to process some, or all, of these services for you, having a solid foundation in financial and accounting management is critical to the success of any organization. In the simplest form, it can give you a clear understanding of how you are doing and assist you in making sound business decisions.
Human Resources
From hiring the right employees to training them to reach their fullest potential, Human Resources is one of the most time consuming components for owners of any fabrication or machining company. Human Resources can be the tool that separates businesses from the rest. If you hire the right people, onboard them to your systems and culture, and develop effective communication for feedback, the operational efficiencies and maximized profits will follow. Through the ProFab Alliance, members will gain access to exclusive management systems developed from years of relevant industry success and one on one support from Human Resources professionals.
Sales & Marketing
Marketing is not just about creating fancy brochures or websites. All of this matters, but marketing is simply what attracts and connects you with your customers. Understanding who you are as a company and why you exist are primary examples of messages that a fabricator and machine shop need to convey to their customers and prospects. If done correctly an organization’s brand and marketing can increase awareness, trust, and credibility within a defined target customer base. By doing this, you can spend more time and energy on customers and projects that will deliver success.
Operations Excellence
Operations Excellence refers to the execution of an organization’s vision, mission and strategy in a safe, consistent, and reliable manner. Within the fabrication and machining industries, safety, quality, and efficiency are extremely important. You cannot sacrifice one without affecting the others; they are all important components to an organization’s future success. Therefore, all must be developed together to minimize the risk and increase results.