Past can be Prologue for Small Businesses
Small Business Contractor
Small businesses are being hit with all kinds of weird stuff today. From new health care laws to taxes and the constant competition from some guy down the street who thinks they can do it better.
In this series of posts, all with the subheading of “Income Strategy”, we are going to examine tactics that small businesses, families and individuals can use to make the most of their income from a program like Lyoness. In this opening edition we’ll be looking at a tile contractor who went into retirement after the financial crash of 2008 when construction hit an all-time low in Las Vegas.
Ron’s Tile was one of many such contractor’s in Las Vegas, doing tons of business as homes and casinos shot up seemingly over night. Because of his long standing and contacts in the community, owner Ron Coldren was able to keep his crews busy year round.
But when the crash hit, he and his wife decided that 28 years in operation, combined with new fees and licenses being put in place, were enough to close the business and retire. It was a short time later that he joined Lyoness in its early stages here in America.
As he became more familiar with the program and its member merchants, it became clear what the possibilities could have been had Lyoness been in operation during his company’s existence. And when his son, Mack, came over to ask about using Lyoness merchants as opposed to ones more specifically suited to his new endeavor, Ron had a suggestion.
“I suggested they do both,” said Ron. “First, buy from Lyoness merchants locally and online. Then take those receipts to the local supply shops that aren’t Lyoness merchants yet and share the program with them.”
Mack thought that was a winning idea.
The conversation caused Ron to look back over his business’ expenditures that were for things outside of the tile and marble suppliers that are now Lyoness merchants and was shocked at what he found.
$18,000 ….. Home Depot
$04,800 ….. Sam’s Club & FedEx
$21,600 ….. Gas & Automotive
$06,000 ….. Business Meals/Meetings
$50,400 ….. Annual Total
“Had these merchants been with Lyoness when we were still in business,” observed Ron, “We would have received $765 in cash back awards and created 20 Shopping Units totaling $17,460 each year!”
Over the 28 years they were in business, Ron’s Tile would have realized more than $21,000 in cash back rewards. Additionally, they would have created 560 Shopping Units, more than enough for a tidy retirement. If he rolled the cash back into more units, he could have purchased an additional 285 Shopping Units for 845 total.
Another consideration is the possibility that he could have shared Lyoness with countless customers, friends and suppliers that would have also benefited from getting cash back on purchases and the friendship bonuses Ron would have received as a result.
The staggering nature of ‘what might have been’ looms even larger when you consider that Lyoness has collected 3.5 million members in Europe over its first 10 years and over 83,000 in its first two in the U.S. Ron’s Tile could have had its array of friends grow into the hundreds of thousands over its nearly three decade life span, generating even more revenue away from the work site.
The unique structure and open availability of Lyoness makes it a great partner in any business.
If you have a small business and would like to discuss how Lyoness could be used to get new customers and create additional revenue streams, drop me an email. Offering your customers Lyoness while you continue to move your business forward is a win-win for everyone.
As always, the information and the membership is free!