Goin’ Postal was established in 2002 by the Price family, and very soon exceeded its business plan projections by turning a consistent profit within its first two years of operation. The company started its franchising partnerships in 2004, and has grown into a national chain with new stores opening, and scheduled to open, all across the United States.
Note that as a nationwide network of proactive, positive, and enthusiastic entrepreneurs, Goin’ Postal is on the path to making financial goals a reality. Goin’ Postal provides all the benefits of being part of a large chain without the whopping price tag, and with the flexibility people need to run their own business.
Goin’ Postal boasts of being the best of both worlds for franchisees and continually supports its franchisees with training, continuing education, telephone and email support, networking assistance, advertising and public relations assistance and much more.
Goin’ Postal is much more interested in securing the success of its individual franchisees, and establishing a strong chain of very happy and satisfied Goin’ Postal store owners and customers.
The training offered by the company will cover both the business and practical sides of owning and operating your own shipping store. You will also get a priority toll free number to call when you have any questions. You will do a week of mandatory training at the company headquarters in Zephyrhills.
The company also sends a representative to your store to help you put finishing touches on your shop, to do a little refresher training if you feel that you need some, and to help open your doors with you for the first few days.
Goin’ Postal always strives to ensure that franchisees get started for the least amount of money possible, so that you can see a return on investment as quickly as possible. The franchisor is all about saving you money, and helping you to make money.
Goin’ Postal also provides the unique platform to offer a variety of shipping services and will do everything to help franchisees offer all the services that they wish to offer in their store.
All Goin’ Postal stores not only offer the standard large carriers but also have the opportunity to use their local carriers. Note that this also takes out the problems of carrier strikes and shutdowns for one reason or another as it never means you are left without a business if one carrier stops working for any reason.
Most Goin’ Postal franchises offer only one or two of the products and services that the company have in their models as it is easier to teach only a small part of what Goin’ Postal teaches.
As a franchisee, you get eBay chains, ink & toner chains, office product chains, and shipping chains. Most franchises all come with a hefty price tag for one or two services, but Goin’ Postal includes all of these services and more in one model, making for much more profitable franchisees.
Table of Content
- Financial Requirements of Opening a Goin’ Postal Franchise in the United States
- How to Open a Goin’ Postal Franchise in the United States
- Perform your Due Diligence
- Read and Understand the Documents
- Know your Obligations, Strengths and Weaknesses
- Key in the Numbers and Assess the Risks
- Know your Exit Options
Financial Requirements of Opening a Goin’ Postal Franchise in the United States
- Initial Investment: $46,750 – $109,500
- Liquid Cash Requirement: $20,000
- Initial Franchise Fee: $15,000
- OnGoin’g Royalty Fee: $460/mo.
How to Open a Goin’ Postal Franchise in the United States
Acquiring a delivery franchise is an exciting endeavour, but you want to be sure that you are making a good commercial decision. Below are six key things you should do to ensure you make a wise investment with the business.
Perform your Due Diligence
Just because you like the company doesn’t mean acquiring Goin’ Postal Franchise will suit you well. Even the company suggest that you get as much information as you can about current and likely future demand of its vast products or services. Research and seek the company’s data on sales, outlets, growth, marketing plans. Talk to existing franchisees and ask crucial business questions. Business wise, always remember that even if there is strong demand at the moment or in the past, this does not guarantee strong ongoing demand.
Read and Understand the Documents
It is very crucial that you read and understand all the documents provided to you, including the franchise agreement. Always ensure you fully understand the operational and financial obligations you will be under if you purchase Goin’ Postal Franchise. Properly analyse the contractual rights of the franchisor, such as rights to determine sources of supply and supply prices, control over marketing and advertising, ability to direct the way in which services are rendered.
Note that you will also need to be clear on the grounds on which either party may terminate the contract. Remember, the franchise agreement is a binding legal contract once signed. Given the amount you are thinking of paying for the franchise, it makes very concrete sense to pay for good professional advice on the terms of the agreement. Professional advice can save you from making a very bad and costly business decision.
Know your Obligations, Strengths and Weaknesses
Have it in mind that the franchise agreement will define what aspects of the business are your responsibilities and what aspects are the parent company responsibilities. Indeed all franchise arrangements are different, but Goin’ Postal claim to be better. You need to be clear about what your obligations are and whether you have the skill set to perform those obligations.
Indeed you may be experienced at customer service but not understand basic financial management or accounting. You can make the arrangements with Goin’ Postal to handle all the financial and accounting requirements and provide the system for you to use. Consider carefully whether you have the necessary skills. If not, you will need to factor in the cost of outsourcing those functions if you proceed with the purchase.
Key in the Numbers and Assess the Risks
With Goin’ Postal you are not landing a job, instead you are buying a business opportunity. It’s your responsibility to make the franchise successful within the terms of the agreement. You must thoroughly understand the commercial elements of the franchise agreement.
What determines what you must pay to the company once the franchise is operating? If the business is not as successful as you hope, note that it doesn’t affect the fee you pay to the company. You might not have exclusivity in a locality and might have to compete with nearby, significantly reducing your potential customer base. All in all, get professional financial advice to help you understand the commercial aspects of the franchise agreement, and assess the financial implications if key variables change.
Know your Exit Options
What are your medium and long term objectives? If you plan to sell the franchise once you’ve built its business success, be clear on your contractual rights to do so, and any limitations or requirements set by the company. Note that the longer the term of the franchise remaining, the more valuable the business is likely to be. Since Goin’ Postal operates from leased premises, an effective exit will require an exit from both the franchise agreement and from the lease – two separate legally binding contracts which may be with two different entities. Goin’ Postal will encourage you to seek professional advice and spend time understanding the opportunity.
In summary, Goin’ Postal is a chain of retail shipping and receiving stores with hundreds of locations. Coupled with offering consumers and businesses access to all the main carriers such as FedEx, UPS, and the United States Postal Service, Goin’ Postal also provides other business related services such as copying, faxing, mailbox rentals, cards, unique gift items, and office supplies. Goin’ Postal’s in-store services include shipping and receiving, accounts service, and private mailboxes, as well as mail forwarding, EBay trading assistance, passport photos and applications, stamps, fax and copy service, Web design, and business card and brochure printing.