New news from Varsity today — the company has merged with Texas-based BSN, a marketer and distributor of team sportswear. See an excerpt from the official press release below:
Herff Jones, Inc. (“Herff Jones”) has signed a definitive agreement providing for a business combination with BSN Sports, Inc. (“BSN”). Dallas based BSN is a leading marketer, manufacturer and distributor of team sports apparel and equipment to institutional markets and team dealers in the United States. Under the agreement, BSN, the majority ownership of which is currently held by affiliates of ONCAP and Andell Inc., will merge with Herff Jones.
“Through my career at Varsity, I was very familiar with BSN and was intrigued with the similarities between our cultures and our business approaches,” stated Jeff Webb, Herff Jones President and COO. “The BSN team has built a great company and we look forward to working with them as we provide our school customers and the young people served by both enterprises the highest level of quality and service.”
“We welcome the men and women of BSN to the Herff Jones family. Our companies share core values and a dedication to serving the people in our schools, communities and affinity groups,” said Joe Slaughter, CEO of Herff Jones. “The merger of these two outstanding companies is the next logical step in our efforts to meet the diverse product needs of our customers.”
“I can think of no better culture to align ourselves with than Herff Jones, which is an outstanding employee-owned organization,” added Adam Blumenfeld, BSN’s CEO. “I feel fortunate we have found a partner that not only complements our business, but also embodies our values and traditions.”
Inspired by our “Game Night” story and want to play during practice? Here’s how:
Stay simple. Sarah Swicegood Macrow of CEA began giving out colored string bracelets to athletes who had mastered certain skills, and soon the bracelets themselves became a badge of pride (and a bragging right). “All it takes is walking into the toy section,” says Macrow. “We run out of ideas all the time, but you just make up your own game. All you need is sidewalk chalk or a deck of cards.”
Keep them competitive. Cheer attracts athletes who want to be the best. Melissa Meriwether’s 50 Day Challenge at Spirit Xtreme works because it allows her athletes to both compete as individuals and work together, and Spanich’s spotlight sessions accomplish the same end. Give your athletes a chance to have fun, to shine as individuals as well as part of a team and they’ll be motivated to work harder.
Tech tool: CheerLIVE! (www.cheerlive.net)
What it is: Obsessed with watching routines on YouTube? Take your viewing habit up a notch with CheerLIVE!. The website provides both live streaming and video on-demand of various gym showcases (such as Cheer Athletics, Spirit of Texas and Cheer Extreme) and competitions like The MAJORS. For free, guests can listen to the CheerLIVE! radio library and watch top videos, and for a subscription fee of $9.99/month, members get full access to all benefits including video in-demand and competition webcasts.
Why it matters: During competition season, it’s important to stay current on who’s getting bids, who’s wowing the crowd and who’s setting the trends. CheerLIVE! provides a central place to watch national competitions around the country and put your finger on the collective all-star pulse. If you’re interested in broadcasting your own gym’s showcase, it can be a viable option on that front as well.
Quick tip: Want to get the most bang for your buck? Sign up for a full-season pass for $49.99 (a savings of $70).
Similar services: Varsity TV (www.varsity.com/VarsityTV); IASF Video On Demand (http://iasfworlds.org/worlds/video/)
Business experts and Gym Kix owners Carrie Harris and Stephanie Beveridge
One of the most overlooked aspects of business is the relationships you create. During our 13 years of business, we cannot count the number of times that we have been grateful for the friends and professional relationships we have made and their contribution to the success of our business.
Any time you are looking at making a major decision, you should get a second opinion. This will invariably save you time and money in the long run! At a minimum, you will want to have someone you trust in finance, law and insurance.
Here are some overall tips for choosing a professional to assist you:
• Ask your accountant, lawyer, friends and fellow business owners to introduce you to the professionals whom they are familiar with. Professional conventions are a great opportunity to network with other like-minded business owners and get recommendations.
• Check with your local chamber of commerce to find out which professionals and banks are active in the community.
• Look for a complementary personality. This is very important! You need a person that you can relate to and that makes you feel comfortable. A professional should never be too busy to address your needs and concerns.
• Find out how long they have been in their current position or owned their own business.
• Tell them about your business and the form of organization so they can tell you how they can assist you.
• Ask about billing rates and payment process upfront, as well as what fines and/or penalties that professional is willing to take responsibility for if they occur (this will be based on the services they render). You should not make a decision on pricing alone, but always look carefully at the charges for services.
• If you don’t understand something, ask for clarification.
Choosing a bank:
Approach this as a long-term commitment and choose wisely. You should compare financial institutions and choose the one that will best serve your business’ needs. You will want them to be able to assist you during the different stages of your business. We would recommend looking at your local banks, as we believe supporting your community is important. However, if your local bank is not able to meet your needs, then by all means keep shopping around!
Ideally your bank should be able to help you with the cash management needs, investment products, loans and advice.
Choosing an accountant:
You will want an accountant that can assist you with: bookkeeping structure, tax planning and payroll. We recommend finding someone that has worked with businesses similar to ours. The uniqueness of our business can make it very difficult to find competent help in this area.
Taxes and payroll are two areas that you do not want to mess up! If you do not have this type of experience, we HIGHLY recommend having a professional handle it for you. We also recommend educating yourself on the basics so that you can question and double-check what is being done for you. Don’t assume that they are working to your benefit until they have proven it to you!
Choosing an insurance agent:
In these times, it is almost inevitable that something will happen that will make you thankful you have proper insurance. Whether it is a natural disaster or lawsuit, your insurance company should be able to help you keep your business afloat during the difficult times. This is one area that we definitely recommend someone that is industry-specific. There are so many aspects of our business that require a professional familiar with our needs. Your insurance will be based on the services you offer and your enrollment, so be sure to update your agent if you add a program or increase/decrease your students. We cannot stress enough that you MUST read the fine print and ensure that everything is covered. Sometimes you will need to ASK for specific coverage for natural disasters—we have seen a few businesses get shafted after the hurricanes hit because they didn’t realize they weren’t covered!
Choosing a lawyer:
Your lawyer will become one of your most important advisors. You may also need to change attorneys as your business changes, but it can be an expensive process so it is best to take your time and choose the right person the first time. We recommend interviewing at least 2 or 3 attorneys. Most will waive their fee for a short interview. Stay focused when interviewing them, and ask for references of other small businesses they have assisted. Do not ask for legal advice during this process. You may also ask if they have knowledge in our field, how they charge, how you can help reduce fees and what they feel their strengths are.
Your attorney should be able to, at a minimum, assist you with contracts, leases, securities, patents, trademarks, legal advice and litigation.
-Carrie Harris & Stephanie Beveridge
Past posts:
Starting a Gym 101: Writing a Business Plan
Starting a Gym 101: Legal Forms of Business Ownership
Power your way to Worlds with inspirational quotes, fitness and nutrition challenges to keep you on track.
