What came out
of her oven was a wonderful soft pretzel. But, she wasn't satisfied there. She
and her husband further tweaked that new recipe until she heard, "Wow!" from
her hungry customers.
Anne's Hand-Rolled Soft Pretzels are baked fresh in over 800 locations and are
the perfect high carbohydrate, low-fat, back-to-the-basics snack so many people
So now, we
travel out to Gap in Pennsylvania's Amish Country; it is a simpler place. And
though it may be an unlikely place to be running a fast-growing business, maybe
there are lessons here for all of us in these hostile times.
is based on love and on giving.
This is the
American Dream. It has come alive for all the right reasons. Assuredly there is
much to learn from Anne Beiler and her people.
Auntie Anne's Inc.
160-A Rte 41
P.O. Box 529
Gap, PA 17527 USA
and Public Relations
Locations near you!
We invite your questions or comments
- SUPPORT PUBLIC
Become a member of your local station. If you are
already, great. If not and your business is doing well, consider joining the
Producers' Club ($1000).
- JOIN, JOIN, JOIN: Your professional associations in your industry
are your key to continuing education, market research, collaborations,
strategic partnerships, capital and so much more ... often you'll find that you
enjoy like-minded people and many will become friends for life.
- NATIONAL TRADE ASSOCIATIONS / LOCAL
CHAMBERS. There are national trade associations for every
industry and business sector. These associations are the most relevant
resources for continuing education and networking for small business owners. We
are not alone.
- CASES BY BUSINESS TYPE. Click on the
heading to find all the business types and then click on your type of business
to check out those case studies.
- ANGELS &
Angel capital has been studied
in earlier episodes; there are also
references are in our
& Steps, especially the section about money within
6. An online resource to find an angel is
Ace-Net, now located at Cal State University
- San Bernardino.
LIGHT: You learn about Anne's acrostic
which permeates their entire corporate culture. Review the
segment and guide
where Anne discusses how each letter of this acrostic is
- FIRST PRINCIPLES: Starting a
business is the road to economic independence for most of us average people.
Read a little more to see why
incorporating a business keeps the passion of
the American revolution alive!
- ABOUT BANKS: Of course, Anne Beiler will be forever indebted
to her angel, "the chicken-farm banker." You should know, however, that Auntie
Anne's currently enjoys banking relationships with local banks Bank of
Lancaster County and HomeTowne Heritage Bank, and a large national bank
Before going to a bank for money, understand what it is that
a banker wants. For every loan document, they use the statistical data of the
RMA. Although we have a section about
and it can be useful, we all need to know about
RMA, The Risk Management Association. This is real insiders'
information on your financials so take note.
This organization is
your banker's banker. They know more about key critical ratios than anybody
on earth. Over 3000 banks and 16000 other kinds of financial organizations
contribute the essential financial data from their loan inventory to RMA's
Annual Statement Studies to calculate key critical ratios for every
major industry type (and for most subsets of business vis-a-vis the SIC and
NAICS). With over 150,000 loans per year,
that is statistical relevancy.
Do you know the average key ratios
within your industry? We need to be tracking ours in the TV/Production
Industry, so get to know a banker and ask! To really make a study of it,
keep an eye out for the next seminar by RMA in your area. It'll be the best
money you'll spend to understand the organic nature of your business, and learn
what it is that your banker so quickly knows about your industry.
For more, track:
seminars, history, and Journal and articles by Kathleen M. Beans on small
business scoring (i.e. used by the SBA for their Low Docs).