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Monks vs. Framers

Discussion in 'Picture Framing Business Issues' started by Jay Goltz, Oct 27, 2000.

  1. Jay Goltz

    Jay Goltz Grumbler in Training

    Dear Grumblers,

    In the response to a topic called 'Overworked and Underpaid' posted by Pamela Desimone my column in PFM was referred to by Bob Carter.
    While I wholeheartedly agree with Bobs ideas about setting priorities, I'd like to respond to his comment about whether or not my accounting degree has helped me in the framing business.
    Absolutely it has.
    My point was and is: You don't have to have an accounting degree to be successful in this business. You just have to know BASIC accounting. I've heard for years, "you can't make money in picture framing." Monks take a vow of poverty, I'm not aware of one for framers. The problem I keep seeing with pricing strategies is that they never tie back to where we want to go - the income statement. It's like getting a map to nowhere. After comparing notes with other successful framers, I've developed, for my pricing class, a well grounded sample income statement. It is a great guideline for what your costs should be. Doing great framing at the wrong prices will result in being overworked and underpaid. I've suffered through the same ailment myself.
    Since I've been introducing my new venture FramerSelect I've talked to many framers across the country who are making a good living. It's not that they work harder, they just have a better handle on the business issues.
    I outline these problems in my book, my column in PFM and my speeches in and out of the industry. All I'm asking is this, I'm happy to help with the business issues,but please, please, please, please stop believing the myth that you can't make money doing custom framing. Go back to the August issue of PFM, it is all in my column 'For Love or Money.'
    Best Regards,
    Jay Goltz
     
    American Picture Frame Academy 1-888-840-9605

    The American Picture Framing Academy Learn Picture Framing Now
  2. Alan Sturgess

    Alan Sturgess CGF II, Certified Grumble Framer Level 2

    Hello Jay and Welcome aboard The Grumble.

    For those who do not know Jay, he runs probably the single most successful frame shop in North America, if not the world. All I can say from visiting his shop and getting the "Goltz Tour" is - read his book, read his articles in Picture Framing Magazine and try out his suggestions and management ideas to make your shop more profitable and in the end more fun!

    Look for his On the Road seminar schedule in Picture Framing Magazine or go to Las Vegas in January to take his profitability course. What you learn from his seminar will pay for your trip to Vegas!

    Alan Sturgess
    Accent Art Distributors Ltd
    Vancouver Canada
     
  3. Framing Goddess

    Framing Goddess SGF, Supreme Grumble Framer

    The Goddess is so pleased to see Mr. Goltz on our board!
    This Goddess used to say, as a lame explanation for why I was working so fricking hard for dirt pay, "yes, I do it cuz I love it...!" Oh, baloney. I took some monstrous huge risks to open and maintain my business (just like all of you good people reading this) and, after attending one of Mr. Goltz's talks ("The Goltz Standard"), I now ABSOLUTELY INSIST on making GOOD MONEY for what I do... since I am the Goddess after all!
    So do yourselves a favor, go to the very next trade show where Jay will be speaking and just listen to what he has to say about our fabulous business. It is a beautiful thing to love what you do, work long and hard, and MAKE BIG MONEY. Because we all know we deserve it.
    End of Goddess Lecture.
     
  4. osgood

    osgood SGF, Supreme Grumble Framer

    <BLOCKQUOTE>quote:</font><HR>Originally posted by Jay Goltz:
    Dear Grumblers,

    Since I've been introducing my new venture FramerSelect I've talked to many framers across the country who are making a good living. It's not that they work harder, they just have a better handle on the business issues.
    I outline these problems in my book, my column in PFM and my speeches in and out of the
    Best Regards,
    Jay Goltz
    <HR></BLOCKQUOTE>

    G'day Jay,

    Down here in the Land of OZ (Australia) I hven't heard about your "FramerSelect" program and I would like to know what it means.
    Also I would like to get my eyes into your book. What is it's title and publisher? Do you know if any framing suppliers in Australia have it for sale?
     
  5. Bob Carter

    Bob Carter SPFG, Supreme Picture Framing God

    I received a very nice phone call from Jay prior to his posting in which he asked my meaning of my "preaching to the choir" statement he referenced. For clarification, I didn't mean I thought Jay was being untruthful about his education not being important. I meant I thought he was assuring those without the luxury of such training that it wasn't necessarily business-threatening. We both agreed on that(and just about everything we spoke about) and both felt strongly that a solid business-sense is one more weapon necessary to compete in today's market. Jay is, as I stated in that post, one of the true success stories in our trade.His message is similar to mine. If your going to be in business, act like it.Spend as much time, no more time, on the mechanics of running your business as you do on he mechanics of framing. The fact that the trade orgns. put on many more classes dealing with mylar hinges or French matting doesn't make them more important. You would do well to read Jay's column. It's especially helpful to the novice, and you know what? Every so often I pick up a little something. If an old retailer like me can benefit, imagine what most every one else can learn.
     
  6. JPete

    JPete <span style="color: red"><b><i>Charter Member</i><

    Welcome Jay,

    I always read your column first. It is great reinforcement for the things you are doing right and gets you back on track when you forget some basics. Thanks.

    ------------------
    Knowledge is to be shared!
     
  7. cfkane

    cfkane True Grumbler

    I attended the PFM seminars on the road and met Mr Goltz on my way into the seminar. After speaking with him for five minutes I knew I should change my plans to attend a demonstration of computerized mat cutting to attending his talk. I realized that if I failed at the business, I'd never afford the cutter.

    Between Mr Goltz and Rob Markoff I learned more about the basics of the business than I could have hoped for in one or two mornings. Welcome, Mr Goltz, it is comforting to know you're listening.
     
  8. Scarfinger

    Scarfinger Guest

    We have the first step - pricing for profit. Realizing what our costs are and pricing to give us a good profit. Now can we get some words from Jay and Bob on the next step - fighting the competition. Discounts and sales are a bad idea. How do you fight head on competition?
     
  9. Jay Goltz

    Jay Goltz Grumbler in Training

    Dear Grumblers,
    Thanks for the positive feedback. First of all, in answer to Osgoods question about where to find my book; it can be purchased at PictureFramingMagazine, The PPFA or Amazon.com.
    As far as your competition is concerned I believe that there is only way to deal with them: DON'T. Worry about yourself.
    Picture framing is more like golf than basketball. Work on perfecting your swing rather than worry about getting an elbow to the ribs. Perfect your game. My column in the October 2000 PFM gives an overview of the different aspects of your business that you should review.
    Keep and attract good customers using TARGETED marketing. For instance the strategy of running '1/2 off sales' is targeted, but after the least valuable customers. It results in attracting 'price customers.' Anybody can do that. It takes a smart business person to deliver well designed and crafted products, on time and at the appropriate price. We are in the design/customer service/quality business; that is where the money is.
    I'd ask myself the following questions: Do I have the best salespeople? Selection? Is my store attractive and up-to-date? Is my quality as good as anyones? Do I handle difficult customers well? THAT is how you beat the competition.
    Do you have a specific problem you'd like to discuss? Jay Goltz
     
  10. RevBev

    RevBev True Grumbler

    Notice that "Jay Baby" never had to pass through the Learning Member phase. Some of us are more equal than others. I've photocopied his columns in the past to share with superiors who "just didn't get it." I for one believe in "premium work for premium prices."
     
  11. RevBev

    RevBev True Grumbler

    Dang! Now I've stopped "learning" too! The mind wobbles, as Kelly Bundy used to say.
     
  12. Croatcat

    Croatcat Guest

    Jay,
    I look forward to hearing you talk in Las Vegas-Jan. '01.
    For the past five years I've been a framer who happens to own a frameshop. I am realizing I need to be an owner who also does framing.
    Don't get me wrong, buisness has been growing every year since I opened, but I believe it could be better.
    From what I've been reading on the "G" I feel like a complete novice in the way of buisness.
    And yes I do read your columns faithfully.

    Jim S.
     
  13. PicFrmProd

    PicFrmProd True Grumbler

    someone said, "It used to be a sin to be rich, now it's a miracle."

    That's something like "luck" which would be when hard work and opportunity meet.

    ------------------
    Have you heard of my old friend "Common Sense?"
     
  14. Lyn

    Lyn Grumbler

    As so many of you have pointed out, Jay Goltz is a tremendously successful businessman and frame store owner - and he has also willing to share his smarts, (he is a really nice guy!!) in so many ways with many of us other shopkeepers! I am looking forward to the beginning of his new venture "FramerSelect." After meeting Jay this summer, my husband and I can tell you that the info he gave us was exactly what we needed to move up a step in making a real profit! We have signed on to FramerSelect and look forward to all of the good things that being involved with Jay's vision will bring!! I encourage any of you that feel you want more out of your framing business to look into FramerSelect and sign on!! By the way, this is NOT a paid advertisement - just a recommendation from someone who wants to succeed in this business!!!
    Best Regards, Lyn
     
  15. gemsmom

    gemsmom SGF, Supreme Grumble Framer

    Jay, I was happy to see your post. I am currently awaiting info on FrameSelect,can't wait until arrives. Could you tell me what percentage of gross sales would be considered a good or healthy profit?
     
American Picture Frame Academy 1-888-840-9605

The American Picture Framing Academy Learn Picture Framing Now

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