It’s been about two years since Propelled Manufacturers—the umbrella firm of Fastsigns, NerdsToGo, Salon Plaza and My Salon Suite—was shaped, and CEO Catherine Monson knew it was time so as to add a devoted Fastsigns president to the workforce.
Till this previous October, when Andrea Hohermuth took on the position of president, Monson was serving as Propelled’s CEO and president of Fastsigns. Propelled employed a search agency in February 2022 to search out a super candidate for the position.
“Lastly, they discovered Andrea for me,” Monson mentioned. “She has very strategic pondering expertise, she’s extraordinarily organized, she’s educated about applied sciences. … I hate to say ‘checks all of the packing containers,’ however she actually checks all of the packing containers.”
Hohermuth labored in expertise and most just lately was chief working officer at dwelling providers platform firm Threshold Manufacturers, the place she additionally served a stint as interim CEO. She mentioned she’s spent her first few months at Fastsigns studying the ropes.
“As somebody who likes to be taught, a lifelong learner, altering industries is definitely one thing that excites me,” mentioned Andrea Hohermuth, the brand new president of Fastsigns.
“I name it consuming a bit from the firehose, as a result of it is a new trade to me,” she mentioned. “However as somebody who likes to be taught, a lifelong learner, altering industries is definitely one thing that excites me.”
Fastsigns focuses on promotional merchandise for companies and people, resembling content material growth, graphic design and set up. The franchise additionally sells customized banners and a wide range of indicators.
As president, she’s dialing in on forming a robust enterprise basis. Based in 1985, Fastsigns has 760 shops in eight nations; it reported $638 million in systemwide gross sales in 2021, and $729 million in 2022. Of the model’s lots of of facilities, 74 exceeded $1 million in gross sales final yr, with one retailer bringing in over $18 million.
“It’s a very, very profitable model. So, I wish to capitalize on the robust enterprise basis expertise, which means the expertise of the oldsters throughout the company group right here, in addition to throughout the community,” she mentioned.
At Propelled’s conference this yr, franchisees welcomed Hohermuth as their president, which Monson mentioned is “a superb indication that I did decide the best chief on the proper time.”
Monson will concentrate on searching for extra acquisitions for Propelled, she mentioned. Propelled acquires business-to-business manufacturers, or franchisors whose gross sales come largely from business-to-business transactions.
Catherine Monson is the CEO of Propelled Manufacturers.
Its most up-to-date acquisition, My Salon Suite guardian firm Suite Administration Franchising, has fared properly to this point. Final yr, Propelled opened about 50 new My Salon Suite items, Monson mentioned, which follows steady progress from earlier years. The model has greater than doubled in unit rely since 2019.
“Our franchisees are operating 97 p.c occupancy, which could be very, very robust,” Monson mentioned. “That enterprise is rising dramatically.”
Monson mentioned to look at for brand spanking new acquisitions this yr. Propelled has already made a proposal on a model, and she or he expects “a few thrilling acquisitions” on high of extra progress inside its current manufacturers.
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