Nothing Ventured Slideshow by Pam Stellema from SalonSavy

Nothing VenturedNothing Gained!

A journey through Joint Venturing

www.SalonSavy.com.au

Why should you consider joint venturing?

Very economicalGenerally very successful (when

planned carefully)Quick way to grow your databaseComes with some trust already built in

2

www.SalonSavy.com.au 3

What is a joint venture?

Strategic Alliance that benefits all parties


What can you expect to gain from a JV?

More clientsIncreased salesReduced expensesGreater exposure


A virtual money magnet!


How does a JV work?

Research other local businesses

Be prepared with a plan and goals

Make contactSpell out the benefits


Who should you JV with?

Careful consideration


Things to consider first...

Businesses that have: the right kind of clients (ones that will

want to do business with you)high quality services or productsenough customerscustomers in your trading zoneA real eagerness to participate


Possible JV partners

Hair salons Beauty salons/spas Massage clinics Gyms Florists Dress shops Shoe shops


Should you start a JV?

Ask yourself:Do you want more client referrals?

Are you ready to take action?

Can you stay in control?


Nurturing the JV relationship

Start with clear, written guidelines and expectations

Be realisticStay in touch regularlyRefine your JV partnershipDeliver what you expect to get


What can go wrong?

No guarantee of successDifferent values and standards

Loss of money, clients, time and credibility

13

To sum it all up...

Don’t rush into it – preparation is keyKnow what you want to gain from itPlan carefully and...You will generally get back what you

put in.If you choose the wrong JV Partner.

don’t linger– get out immediately to reduce any negative impact on your business.

www.SalonSavy.com.auPam Stellema

14

Happy Joint Venturing!

Pam Stellema www.SalonSavy.com.au©