Zillion $ Studios from Dun &Bradstreet

Started Jun 21, 2007 | Discussions thread
birdpix
Senior MemberPosts: 1,389
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Re: Zillion $ Studios from Dun &Bradstreet
In reply to James Cover, Jun 23, 2007

I doubt Lifetouch has that many "employees." That is probably an
inflated number...I believe, most of them are "guns for hire,"
i.e., freelancers on their payroll, and not fulltime employees...
--
james

No, they have easily over 500...

Lifetouch operates "territory" offices in most states, with several in some states, each with full time staff, management, and the stable of seasonal employees. It used to be an "employee owned" company and yearly bonus payments to employees, and in particular the managers in territory offices, were pretty darn sweet at one time.

They are a HUGE company that eats smaller school photo studios for lunch. Know several studios that have been bought out in recent years, including one I used to work for that was a great school pic biz, and they bought out that studio for close to a million, so they do have the bucks behind them when they are trying to aqquire new markets or buy thier way into schools through the good reputations of other studios they take over.

Here's a great biz plan for you though - start up a school photo biz, build up good client base, operate it for a few years making good money, and wait for Lifetouch to come buy you out for BIG bucks. Then, wait the few years for your contractual non-compete clause to be over with them, and start all over again. Rinse and repeat...

Knew someone who did just that - sold thier biz, waited out the clause, then helped a former partner of his start a new studio which went and got back a good chunk for the schools they used to have and had sold. Guess what - 5 years or so later and the NEW biz they started has been approached for being sold as well. Gotta love it!

As far as the other "Big" companies - Herf-Jones bought out Delmar about 10 years ago and they are another BIG school studio with territories across the country. PCA, CPI, PicturePeople, etc are all volume portrait studios with multiple locations which would raise the employee and profit numbers when looking at combines sales at all locations.

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Eric in Florida

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