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RECENT INTERVIEW WITH Yuvi Shmul
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View More Yakety Yak Wireless Franchise Information
 Recent Interview with Yuvi Shmul
Chief Executive Officer
Yakety Yak Wireless
Written By Ron Peltier, 3/31/05
Yuvi Shmul, the recently elected CEO of Yakety Yak Wireless, discusses his search among many industries for the perfect business. Prior to entering the Yakety Yak family, Yuvi worked with a Wall Street firm. After that he pursued his dream of building small companies into major successes. He analyzed and invested in several businesses on his own, and as a business broker, helped others to become successful business owners themselves. As a result, he has acquired extensive and thorough knowledge regarding several forms of investments throughout multiple industries.
During his search and involvement in the medical device, service, home-based, retail, high tech, emerging, real estate, and other industries, he decided to enter the wireless arena. Consequently, he purchased four stores, and later invested in Yakety Yak. Currently, under the leadership of Jimmy Kindred and Jared Turner, the two founders, Yakety Yak is on its way to becoming the largest independently owned chain of wireless stores in the nation.
What type of investment would you recommend to business opportunity seekers?
While I would obviously recommend someone to enter a fun and rewarding business, I would strongly encourage people to look into their return on their investment. Yakety Yak created a licensing structure without the enormous up-front franchise fees and outrageous monthly royalties.
Our licensees can open and operate a store with a very reasonable level of investment, return their entire investment in less than a year, and enjoy a very simple yet profitable business within the first year and thereon after. Our licensees can be owner/operators, or owner/ absentees, while owning one store or multiple locations.
Also, with our licensing model, we don't dictate every single aspect of the business, as do other organizations. Instead, we let the business owners put their personalities into their stores, and adapt to the local clientele. Lastly, although we charge a modest upfront licensing fee, we have created an excellent system, where we provide our licensees with superb knowledge, extensive training and continued support as long as necessary.
What are some mistakes that you have encountered in individuals that buy or start small businesses?
Some individuals often pay too much for a business opportunity with little room for a return on that initial, exorbitant price tag. A person needs to be prudent in regards to buying a business or spending too much on initial fees for a new venture. Don't be fooled by high initial fees and monthly royalties. They don't guarantee a profitable business. Often more affordable opportunities are more profitable on a monthly basis than other opportunities with high initial fees and monthly royalties and therefore yield higher returns.
Yakety Yak stores are about a great look, catchy name, knowledgeable store owners and employees, and excellent customer service. Yakety Yak store owners achieve all of these vital qualities while enjoying a sensible level of initial investment and low monthly overhead. It is important for us that the Yakety Yak store owners don't just bleed money during their first year of operation. It is equally important to us that our licensees become profitable and enjoy a full return on their investment as soon as possible.
Why did you choose wireless?
It is no secret that cell phones and wireless devices are ubiquitous. New products come out continually and the demand for these products remains steady and high. It is important to note that as a wireless store owner you enjoy very attractive commissions and extremely high margins on accessories. As such, with only 10 to 20 customers a day, you can earn an excellent living.
Why Yakety Yak?
Since the beginning of the company in 1999, the founders, Jimmy Kindred and Jared Turner, have built a unique concept and well-recognized brand. Today, Yakety Yak store owners, enjoy an unparalleled business opportunity. We have created an investment structure that allows entrepreneurs to invest a relatively low amount of capital with the ability to reap high dividends.
Yakety Yak's name, logo, jingles and marketing concept is fun, catchy, and vibrant. Additionally, we help our licensees in all of the steps required to operate a successful venture: from how to find and identify good locations; negotiate leases; build out stores that are attractive yet affordable; drive traffic to the stores; market the business in a cost-effective way; promote and sell the products and services; follow up with customers; hire, train and supervise employees; to how to grow the business into an absentee operation. All of that while making sure that our initial licensing fee and the monthly administrative fees are affordable.
What's next for Yakety Yak?
There is no doubt in my mind that Yakety Yak will become the largest independently owned chain of wireless stores in the nation in the immediately future. Everything in our business model, simply stated, makes sense. From the Yakety Yak vibrant culture, sensible investment level required by our licensees, projected return on investments for our licensees, the Yakety Yak commitment to customer service, to the involvement of Yakety Yak in the community, all portends to an extremely successful future for Yakety Yak. In the last few months we have received tremendously positive responses from individuals who tried to get into their own businesses and from current business owners. All of these individuals have looked at many different franchises and have run businesses across a huge variety of industries. Their feedback is uniform-our recipe works. In fact we have already doubled our number of licensees in a very short period, and I have to say that all of our licensees are part of one big, happily motivated family. I believe that within 5 years we will have over 1,000 outlets nation-wide.
View More Yakety Yak Wireless Franchise Information
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