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Tracey Howard
Expert Guru
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Tracey is the Founder and President of Jump 'n Play Gym. Established in 2003, Jump 'n Play Gym offers parent-child interactive play and music classes for children in the developmental years.
Prior to founding Jump 'n Play Gym Tracey spent 15 years in the Automotive Industry. During this time she enjoyed a high-profile career that encompassed Benchmarking, Finance, Process Reengineering, Cost Estimating, Logistics, Supply Chain Management, Sales, Marketing and PR.
Tracey holds a B.S. from Michigan State University in General Business with a double minor in English and Computer Science. She also earned her M.B.A. at Michigan State University, in Finance.
When her child was born Tracey realized that she needed an environment that enabled a balance between the time and flexibility she wanted with her son and her need to maintain a presence in the business world. She chose to pursue an American Dream - owning her own business.
She chose to establish a business in the child services sector in order to make a difference. And of course, there was the lure of the challenges inherent to owning and operating a business!
In the course of establishing her business, Tracey functioned as a business consultant to other entrepreneurs in the play gym market. That and the overwhelmingly positive response to Jump 'n Play Gym led her to franchising.
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Testimonial
I've just begun to work with LifeTips, and am very excited about the forum. What a wonderful resource this site is!
Interview
What books have most influenced your life?
Atlas Shrugged, by Ayn Rand. I first read it as a teen, and the premise fascinated me. As did the strong female character.
The Velveteen Rabbit by Margery Williams. We should all love something until it's real.
How Men Think by Adrienne Mendell. An excellent communication tool. The differences between how the sexes communicate are explored and explained, in a positive way. This book helped me immensely in the business world.
Who are your favorite music artists?
I have ridiculously eclectic taste in music - I grew up with Bob Seger, Neil Diamond, Jimmy Buffett and Barbara Streisand. When I was commuting to work I'd listen Country stations. And now that I work with young children, I listen to a lot of play-time songs!
What are your favorite websites and why?
www.naeyc.org. The National Association for the Education of Young Children. There's a wealth of information available here - great articles and resources.
www.epodunk.com. This site profiles U.S. cities and provides basic demographics.
www.dogpile.com. The search engine of search engines. You CAN find it here!
Where else can people find you on the web?
The Jump 'n Play Gym website is www.jumpnplaygym.com. I'm also referenced on a variety of child / business sites across the web, including Entrepreneur.com and MerchantCircle.com.
What are your professional highlights?
Earning my B.S. with honor from the Honors College at M.S.U.
Successfully completing my M.B.A., which was a full 2-year program, in 10 months.
Creating, operating and franchising Jump 'n Play Gym. This achievement used all my skills, and I learned a lot of new ones as well.
In my automotive life, I created and reengineered a lot of processes, many of them now considered world class. Without going into industry-specific terms, I earned a lot of revenue, saved a lot of money (in the millions) and created new systems with high efficiency rates.
I also had the opportunity to work with some of the finest minds and talents in automotive, which was a distinct pleasure.
What advice do you have for the journey of life?
It's much more fun to participate than it is to watch. It took me a very long time to learn this - and now that I have, I can't believe I ever spent time being quiet or shy or embarrased when presented with new situations. This advice is good across the board, from dancing to public speaking!
What are you most passionate about in life?
Doing the right thing. Whether you're talking about a business situation or a change that involves family, the deciding factor should be "Is this the right thing?" And that applies to both big and little decisions.
What ticks you off?
People who won't make a decision. You have to do the best you can with the information you have. Frequently it's not enough and the inclination is to gather and gather and gather... and wait and wait and wait. Meanwhile, the problem isn't going away. Make a decision! Even if it's wrong, it's most likely correctable and that is far better than inertia.
Any thoughts or ideas on living a greener life?
Keep in mind that the little things add up. It's easy to think that turning off the lights or keeping the house a little cooler in winter is so small a change that it won't make a difference. But if we all do it, it does!
What would people be surprised to know about you?
I was very quiet and easily overlooked in school!
Philosophy
"Do it like you mean it!" If you're going to commit to something, be it a project, a job, a sport - ANYTHING that involves your time and energy - then do it with your whole heart and complete focus.
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Channel Experience
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8 Tips from Tracey Howard |
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Aim for SuccessThere are several elements that are critical to a mutually beneficial and successful franchise. Keep these items in mind as you go through the franchising process from inception to sale to maintenance. · A franchise relationship must have an effective structure · A franchisor must have operating and management systems, products and services that benefit franchisees · A franchisor’s management philosophy and culture must be consistent with the franchise relationship · A franchisor must expand its network at a manageable rate · A franchise must maintain its value to franchisees |
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Estimate the Cost of FranchisingNo business can afford financial surprises. You must know if you can afford the costs of franchising before you begin the process. You cannot collect any fees or royalties until you have legally established your franchise. When you’re developing your franchise you’ll incur costs with lawyers, accountants and consultants. Once you have the franchise formed, you’ll incur the cost of advertising and trademark protection. It’s reasonable to expect to spend between $25,000 and $40,000 developing your franchise. The majority of this is due upfront. You must make sure your current business operations can sustain this kind of cash outflow. Expect these minimums as you establish your franchise: · Incorporation of holding company for your franchise: $100 - $300 · Trademark $1,500 - $3,000 · Creation of UFOC $15,000 - $20,000 · Audited financial statements: $2,000 · Registration of UFOC in home state: $250 · 6 months advertising with online franchise sites: $6,000 · Addressing Infringements: $500 each Several of these costs are recurring. The UFOC has to be updated and registered annually. The financial statements may have to be audited annually. Infringements have no timeline and advertising is ongoing. |
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Establish a Business PlanThe business plan is a critical operational document that provides focus for the business. It’s a tool for analysis of performance. It’s a requirement for most lending institutions and the Small Business Association (SBA), who may guarantee a loan for your new franchisee. A basic business plan includes: · Executive summary · Company and product overview · Market analysis · Marketing and sales plan · Operations plan · Management team · Financials · Funds required and uses |
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