Own Your Own Business – Invest in a LazrTek Exclusive Licensed Territory
Licensing Opportunity – Licensing has been called the greatest business model ever invented and has enabled many thousands of people around the world to become owners of their own businesses. But how do you choose which brand to partner with?
If you’ve always wanted to own your own business, joining a licensing system greatly reduces the risk of new-business failure simply because the idea and process of running that particular licensed business have already been proven; systems are in place and one does not have to re-invent the proverbial wheel.
It is, however, of utmost importance that one carefully evaluates the reasons for entering a specific sector and partnering with a particular brand.
LazrTek Exclusive Territory Licensing Opportunity
LazrTek is a well-known business opportunity servicing the $700 billion trucking industry with a national footprint, but Bo Lockard, Chief Operations Officer of LazrTek, points out that an exclusive territory license owner in any field would expect to have access to the following:
Business systems and technology have been refined over a number of years and support from a team of experts at LazrTek corporate Offices. A large national customer list and a recognized brand that gives instant credibility to your new business, A national referral system and access to other licensees around the country plus an associated revenue stream. Structured and formal training programs, opportunities to network and leverage the knowledge and skills of a team of like-minded business owners, and turnkey marketing solutions, including digital campaigns, professional branding, and in-house web & graphic design.
You should be looking for a package with benefits similar to those above as a minimum. Reputable brands will offer more. Take the “extras” that Bo says LazrTek license owners have access to:
A business model with a backbone of new technologies improving speed, accuracy, pricing, and convenience as well as business management. “This provides a steady income stream, rather than the boom-bust cycle that is often experienced by truck imaging businesses that rely solely or heavily on income derived from equipment sales,” Bo explains. LazrTek agility comes from being a digital-native brand that was born during the latest technological revolution. A license model that is run democratically, with licensees involved in key decisions and regularly consulted on operational
matters. Bo notes that while LazrTek ’s corporate guidelines protect the brand and operational integrity, licensees are given the latitude to bring their own personalities and strengths to marketing the running of their business.”
The first step is to do a careful, honest appraisal of your personality type, special professional skills, strengths and weaknesses, likes and dislikes, and dominant traits. This will help you narrow down your search by finding a complimentary offering from a business that matches your values and allows you to play to your strengths.
“Good partners out there will have done the same exercise in determining the type of person who will succeed in their business,” says Bo. “In our marketing materials, we are explicit about the personality traits that we are looking for in our licensees. From experience, we know that they need to be resilient influencers, who are focused, have a long-term outlook, exhibit emotional intelligence, value lifelong learning, and are self-aware and self-reliant.”
Other important points you need to question include the brand’s demographics (e.g. national footprint, existing licensees), policies regarding license areas vs. open areas, and your earnings potential based on license fees, royalties, and market conditions in the area(s) you want to trade.
“Once you have identified a licensed territory that you are interested in, be sure
to carefully study the License Agreement supplied by the licensor,” Bo advises. “It should contain important legal, business, and financial information that give you the full picture of start-up costs, ongoing expenses, and required working capital. This will give you a good insight into what you could expect should you proceed.”
“Take time to talk to the licensor’s representatives as well as to existing licensees to evaluate whether you feel at home with their specific business culture and ask questions about licensor’s support, training, the profitability of their ventures, and overall satisfaction.”
Bo suggests you base your choice of the brand on whether it delivers on its promises in terms of education, ongoing training and coaching, regular communication, support, marketing, and continuous innovation. “It is all about a track record of success that stems from the implementation of uncomplicated systems, visual consistency, and passionate pursuit of its mission and longevity.”
How much support can you expect to receive from LazrTek’s head office? “LazrTek licensees are assured that the company provides them with up-to-date industry and legislative knowledge and the very best training available in the truck imaging and washing field; this in addition to being affiliated with a strong brand that understands the market, offers proven technology and systems and excellent support. You should expect nothing less from the brand you choose to partner with,” says Bo.
“It is very important when you evaluate a licensing opportunity that you understand what role technology is playing to enhance their success. LazrTek is tech-driven and an e-learning platform has been created which allows our agents to comply with the educational requirements wherever they might be in the country. You need to be sure you’re joining up with and investing in a company that is just as far-sighted.”
In conclusion, Bo emphasizes that successful businesses are not created overnight; patience, discipline, and hard work are required. “System-driven efficiencies are important, so set up routines from day one. Every aspect of your business should follow due process and everyone in your business should adhere to those systems.”
“Every business, especially real estate, is about nurturing relationships and networks. Make sure people know what business you are in and ask for referrals at every opportunity. When you hear of someone with a need you have a solution for, offer help and advice long before you ask them for business. Finally, market aggressively – spend as much as you can on tactical, measurable marketing efforts.”
Bo, Chief Operations Officer, invites you to call him at LazrTek Head Office on 318- 518-5553 for any questions you may have!