Monthly Archives

September 2018

Sep 28
0

Four Reasons Monkey Bizness Works with Today’s Parent

By | Uncategorized | No Comments

No matter what your opinion is on Millennials, there is no disputing that they are today’s parents.  Millennials today are typically 22 to 37 years old and parenting the vast majority of kids under the age of 9.  Dena Daw from mom.com wrote an article this week on 20 Ways Millennials are Out Parenting Baby Boomers and there are some interesting statistics in there about today’s parents.

At Monkey Bizness, we have always thought our awesome indoor playgrounds and devotion to active play appeals to parents today.  Throughout our website, we mention several of the reasons why.  Nothing in Dena Daw’s article in regards to how Monkey Bizness, active play, and indoor playgrounds fit with today’s parent is entirely new (although she does a great job on compiling and putting it all together).  However, we did find several interesting tidbits.  Below are four reasons why the Monkey Bizness model works with today’s parent.

1) Parents Today are More Concerned with Health and Nutrition

This isn’t to say that parents of yesteryear weren’t concerned about the health of their children.  Today’s parent, however, goes beyond looking at food labels and taking daily walks.  60% of Millennials say they try to work out on a regular basis, and 26% consider themselves health fanatics. 60% of moms said they pack lunch boxes differently than the way their own mothers did, largely with more nutritious foods.  Monkey Bizness is devoted to active play.  We offer a healthy alternative that parents can feel good about compared to some of our competitors that use video games and other non-active methods to entertain children.  Our indoor playgrounds are built to keep kids active and our mission of helping families be happier and healthy resonates with parents today.

2) Millennials Value Experiences Over Owning Things

More than three in four Millennials (78%) would choose to spend money on an experience or event over buying something desirable (Harris study). Millennials want to spend their money being with others. Sixty-nine percent of respondents said they believe attending live experiences helps them connect better with their friends, their community and people around the world.  Concepts like Monkey Bizness which gives parents the chance to have experiences with their kids are becoming more and more prevalent.  Once where there was a Radio Shack and a Linen ‘N Things there is now a SkyZone and a Monkey Bizness.

3) Millennial Parents Expect More from Playtime

A survey from The International Play Equipment Manufacturers Association, which was highlighted on Parents.com, found that Millennial parents value outdoor playtime less than parents from previous generations. The study found that 65% of Millennial parents say outdoor playtime is important for children to develop emotional skills, compared to 75% of Gen X parents and 85% of Boomer parents.  Millennials grew up in a time of innovation and new thought.  No longer is there one alternative or right way to accomplish something.  Millennial parents know that it is important for kids to be active but they now have a higher expectation of how that time should be spent.  Monkey Bizness offers awesome indoor playgrounds and a chance for parents to relax and feel safe while their kids play.  And even better, more and more parents are wanting this experience for their kids.

4) Millennials are Selfless Parents

If you talk with 10 different people and ask them to give you one sentence on Millennials, you’ll probably get 10 wide-ranging answers.  However, there is little debate that Millennials are selfless parents.  In a survey by Winnie.com, they identified that the Millennial parent is more likely to say that parenthood is a major part of their identity than previous generations.  Further, due to the influx of technology and social media these generate have had, they are more actively seeking out experiences for their kids.  Parent’s now more than ever before want to have special shared experiences with their children.  Monkey Bizness and its’ indoor playgrounds provide the opportunity for parents to do that.  Coupled with the fact that parents are always looking for affordable options, Monkey Bizness is one of the perfect concepts for parents today.

 

As you can see above, we strongly believe that Monkey Bizness is a strong concept not only for today but as more and more Millennials enter parenthood.  In 2017, 90% of those having children were Millennials and that number will remain high for a number of years.  Based on some early indicators, concepts such as Monkey Bizness that focus on active play will resonate possibly even strong with upcoming Generation Z parents.

If you would like to learn more about Monkey Bizness, we encourage you to contact us now.

Sep 24
0

A Birthday, a Challenge, and a Metaphor

By | Uncategorized | No Comments

When people that haven’t been to Colorado before think of a quintessential mountain town, odds are Manitou Springs will fit the bill.  While just a mere 10 minutes from downtown Colorado Springs, the town has all that would be required.  Its full of small, quaint restaurants, has one of the coziest inns you’ve ever seen, plenty of outdoor activities, and breathtaking mountain views.  My wife and I first visited for our anniversary in June three years ago and spent a night taking in a lovely dinner and drinks with a mountain view.  Three years later for our anniversary, we decided to do it again.  Only this time, my wife had done some research and had decided on a hike to do in the morning.

My wife has so many wonderful characteristics, but directions and reading maps are not one of them.  As such, we found ourselves doing the Manitou Incline instead of the trail she had planned.  The Manitou Incline is not a long trail (just .88 miles) nor does it take you up to some of the higher elevations many other trails in Colorado will (just 8,600 feet). However, what the Manitou Incline is known for is the kind of hike it is.  This hike rises 2,000 feet in that short distance and is essentially a straight staircase up a mountain.  While the hike offers sweeping views of the front range and Colorado Springs, the 2,744 stairs make this an incredible fitness challenge.

Being it was the night after our anniversary, neither of us had properly prepared for this journey.   That is unless you consider a bottle of wine and fondue dinner the night before adequate preparation.  As we started the trial, my wife told me a number of times “I am not up for this, I am just warning you that we need to turn around at some point”.  I don’t blame her, it’s not that the trail is just brutal, but also that you are staring straight up at the couple thousand steps you have to conquer the entire time.  Never the less, I knew that I wanted to do the entire hike and that she would as well.

Due to the nature of the hike, it helps to have two people.  They can continually push each other and as one starts to doubt if they can do it, the other can provide encouragement.  As the hike goes on, there is less and less discussion and your left more to your own thoughts.  As I did this hike, I started to realize how much this hike relates to being an entrepreneur.  The parallels kept going through my head and I was determined that I was going to conquer this mountain.  Step by step, in my own mind, I was conquering business issues.

This hike is incredibly grueling.  About two thirds the way up there is a “bailout” point where you can take an easier trail back down.  Up until that point, you are constantly seeing people come back down the trail that decided enough was enough.  By my own, completely unscientific calculation, only about 5% of the people out there would even attempt this.  Only about 2.5% of people will succeed in doing this hike.  These numbers correlate over well to the entrepreneur world where many won’t attempt to start their own business and of those that do, a lot won’t succeed.

You’ll be around a dinner table and tell people about this experience and you’ll hear “I would love to do that someday”.  That is as close as most people will get.  Not that completing this makes you some sort of superhero.  However, it takes determination, hard work, and will to start and finish this challenge.    It’s hard.  Just like being a business owner, many people love the thought of it, but few try it.

As you go along this hike, self-doubt starts to creep in.  There is an option to “bail out” and you can always turn around before you get too far up the hill.  It’s easy to turn around, look at all those other people doing it.  How many entrepreneurs that you know don’t fully invest in what they are doing?  They tend to put one toe in the pool to gauge the temperature.  There are many that start up the hike that say to themselves, “I will go this far, and if I don’t like it, I will just turn back around”.  With that attitude, I would argue they will never make it to the top.  This is much like the entrepreneur who doesn’t fully commit and invest the time needed in their venture.  They are starting out already planning what happens if I don’t succeed rather than telling themselves no matter the issue they encounter, they will work through it.

As you go up, you get energy from others.  This hike is not filled with 20-something well-conditioned fitness junkies.  One of the great things about it is it is filled with many different types.  On this day, there is a group from Idaho with the youngest being in her late 40’s.  There are two mothers with there 3 kids all trekking up the mountain.   We would continually pass each other as the groups would alternate stopping for a quick break.  We bonded with these people, joked with them, even if it was only for the 60 minutes of the hike.  This is not unlike the need for entrepreneurs to be able to talk and discuss their issues.  After all, only those on the same journey can truly understand what each other is going through.

Four months later, my wife asked what I would like to do for my birthday.  It was a no-brainer, I wanted to do the Manitou Incline again.  For me, each step near the top is hard, but it is a metaphor for conquering something.  It might sound corny, but each step is me conquering issues as they are in front of me.  Many don’t have the stomach for employee issues, dilemma’s due to growth, or the rejection you face as a business owner.  However, none of these issues are insurmountable.  Just like the hike, most can be dealt with one step at a time.

Just like reaching the top, accomplishing a business goal is a special feeling.  Starting a business is not the pinnacle for everyone.  People have different goals in life.  However, being an entrepreneur is tough, scary, and there will be self-doubt.  But, just like the Manitou Incline, those that stick with the journey and don’t worry about failing or turning back are those that will be successful.

If you are interested in learning more about starting your own Monkey Bizness, please reach out to us.

Sep 17
0

Four Considerations for Small Business and a Changing Facebook

By | Uncategorized | No Comments

Monkey Bizness franchisees, like most small business owners, utilize advertising on Facebook.  The reasons go far beyond the number of users on Facebook or any other broad statistic that you hear in the press.  We utilize Facebook because of the ability to target the demographics that make our customer base.

Based on our research and analysis of competitors big and small, we don’t believe most companies have figured out how to fully utilize Facebook.  Quite frankly, small business owners are the probably the furthest away from figuring Facebook out.  Never the less, advertising on Facebook can be so effective that it negates some of these things.

However, there have been some disturbing trends lately that should be catching small business owners attention.   Citing data from Nielsen’s digital content rating solution, Brian Wieser, a senior analyst at Pivotal Research Group, said in a research note that the amount of time people spend on the company’s main social network has declined by around 7% over the last year. Worse, a separate Pew Research Center survey found that nearly half, or 44% of people in the 18 to 29 age group say they have deleted the app in the past year.  Further, 42% of people have said they have taken a “several weeks or more” break from checking their Facebook page in the past year. Heck, 26% of people have even reported deleting the app from their phone.  Do you see a trend starting to develop?

In comparison, Google saw a 10% increase in digital consumption.  All is far from lost for Facebook as subsidiaries such as Instagram, WhatsApp, and Messenger all increased in capturing users attention.  No wonder Facebook has been pushing ads on all three platforms heavily over the past few months. And don’t discount Facebook too much as 23% of all ad revenue in 2018 is expected to be spent on its’ platform.

Still, due to a combination of privacy changes, stagnant user growth, and almost negative growth with the population under 25, some small businesses are left trying to figure out if the platform is still the best place for them. Here are 4 considerations for those small businesses contemplating the problem.

1.       Stick with Facebook – Despite all that I said above, Facebook is still a powerhouse when it comes to being able to reach your customers.  The demographics and targeting are not as powerful as they were a year ago (thanks to Facebook excluding third-party data now), but it is still more powerful than any traditional advertising medium.  And, while Facebook’s younger user base may not be growing as fast, you must remember that you can still advertise through their audience network, which includes mobile app ads and ads on other sites.  Lastly, it is still a bargain.  For as little as $5 you can reach up to 1,000 of your target demographics. 

2.       Look at other platforms – Face it, your users may be using a different platform other than Facebook.  If you have a younger demographic, Instagram might be great for you.  For Monkey Bizness, we are trying to reach younger moms with children between ages 1-9 years old.  We are trying to identify different platforms where these moms hang out including sites like Nextdoor. For the product you are selling, my guess is that there are social platforms that your demographic frequents.

3.       Use Influencers – Skip the advertising altogether and utilize a social media influencer.    A Social Media Influencer is a user on social media who have established credibility in a specific industry. A social media influencer has access to a large audience and can persuade others by virtue of their authenticity and reach.  Start to engage with them and see if you can use their reach to spread the gospel of your product or service.  We won’t go into how to accomplish this strategy (do an internet search or read Gary Vanderchuk). While this probably won’t be free, it can be a great way to reach your demographic if you know that they follow a certain personality.

4.       Privacy Proof Your Facebook Page – This might be close to item #1, but hear me out.  At Monkey Bizness, we have been able to build up a good following of our customers.  At one of our new locations, we have built up a following of around 2,000 users just a few months after being open (and still growing).  We continue to run campaigns specifically at attracting customers to like our page.  By doing this, we can build up our organic following.  This way our normal posts are reaching a higher number of people.  If one of those people interacts with us or likes what we posted, then we can reach just as many people with a normal post as with a $5 or $10 ad. 

 

No matter what you choose, the one constant is you must be pushing out good content that people want to see.  That’s a whole different blog post, but hopefully, this gives you a good idea of some strategies to take to address the ever-changing Facebook.

To learn more about franchising with Monkey Bizness, contact us now.

Sep 10
0

3 Ways to Finance Your Monkey Bizness (or any business)

By | Uncategorized | No Comments

One of the great things about running Monkey Bizness is the chance to talk with so many aspiring entrepreneurs about what they want to accomplish in opening a business.  That may sound corny, but it’s true.  I get so much energy from listening to others talk about taking the leap and starting their own business.

One major gray area with most that I talk with is how are they going to finance their new business?  While this might be an uncomfortable question that many are afraid of the answer, in reality, it is one of the first before starting a new venture.  One reason many don’t like to confront this question is that there is not a lot of great information on the options that are out there.  Being a certified public accountant, I have grown comfortable with many of the terms and methods mentioned.  However, if not for that training, I would be in the same boat as most others.  Below is a video we have put together to go through some of the most common ways to finance a business along with a high-level view of SBA loan funding.

If you have any further questions, don’t hesitate to reach out to us using this link.