Which Office Location is best?
OK folks, so I’m starting with Jones now and still have some flexibility in my office location and I am really trying to narrow it down here. I already chose a primary and a secondary, but there is room within those, so basically, I need to pick between these three. Any insight would be greatly appreciated.
1) This is in a town with ~20,000 people and two other EDJ offices. One guy has been around about 7 years and the other guy more than 20 years and is a million+ dollar producer. The 20 year guy seems to be well known around town… even some people mentioned him by name when I was doing my surveys for my job interview. Both of them have “nicely” suggest I look in other areas, but I think it’s because they don’t want another person digging around in their back yard.
2) This is a town with only 5,000 people, but has an existing office. The office is in a TERRIBLE location that is very difficult to find. I have been driving almost right by this office for almost 10 years and never knew it existed. It’s inside a dumpy, hidden office building with no signage. It was opened recently by someone who knocked on every door in the area. When another office opened up nearby, he took the assets with him and took a better location. They then gave the office to another new new and this person failed at this location and was fired.
3) This location is in a very secluded community of about 6,000 very affluent people. There would be no logical place to prospect out of this area due to the way it is geographically isolated. There is a large corporate HQ here with 20,000 employees, but I don’t know how to realistically tap into this (gated) corporate entity. The big producer from town #1 suggested that I go here because he thought is would be a good opportunity, but I don’t know if he’s just trying to get rid of me.
Any thoughts?
pick the one located near the busiest Subway restaurant.
I saw one that shared office space with a Papa John’s Pizza and one that sat between a local check cashing place and an Auto Zone. So I would say you can’t loose with any of your three choices.
If those guys are already established I doubt they are leading you down the wrong path, you are not going to impact them. I’d go with option 3 and door knock in 1 & 2 also. Just ask the guys if you can use their office for client meetings while you’re getting started.
#3 looks like a high risk/high reward opportunity. 6,000 affluent prospects and a major corporation with 20,000.00 more prospects seems like a good place to start in this business.
If you want to “tap” into this community, market yourself to them. Get in with a few employees of that company and have them spread the word. Sounds like 401K rollover opportunities to me.
Good Luck!
You can be successful anywhere. Think about where you want to live for the next 20 years and make your decision based on that.
henryhill gives good advice. although, if you have an MBA a more prestigous wirehouse might make more sense and use EJ as your fallback if you fail out in your first run.
EJ is always hiring. ALWAYS. It is a simple job to get., but hard to do. Most large firms won't hire you after/if you fail out of Jones though. At least that has been the exerience of the people I know.Henryhill just got out of eval / grad … He knows as much about success in this industry as me. JACK
JACK
Did somebody say Jackson? Shamon!
Henryhill just got out of eval / grad … He knows as much about success in this industry as me. JACK
i thought henryhill was a Seg 5 broker?
Volt,
Been w/EDJ for over 10 years and I am seg 5. I know a fair amount about what it takes to be successful in this business. I know Jack; and his friends Jose, Johnny and comrade Smirnoff. HenryUh Oh. Volt just got bitch slapped. Little Mr. Know-It-All! That deserves a moonwalk!
I agree. The option A means you're constantly competing with two other known entities in town. Leveraging centers of influence will be more difficult. With #2 you're fighting the stigma of how long is this one going to stick around? Offices that have been revolving doors in a small town aren't typically the best. The ONLY way I'd go to town #2 is if I got Jones to relocate the office space to somewhere better. You didn't mention if there was already a Jones presence in town #3, but if not, that's a gold mine. Big local business means rollovers, client education, insurance, and all the other things that go along with it. With all that said, if you hate the town you live in, it doesn't really matter. If, for example, you've always wanted to live in Colorado, but you think you're stuck in Iowa, move to CO and start your Jones office there. My wife and I discussed KC, Louisville, and a couple of other locations in the midwest before finally settling down in a suburb of STL. I actually passed over a $20MM office in a one office town because she couldn't see herself living there. We love where we live and even if for some reason I ever leave Jones and this business we're staying where we are. Unless one of the FAs in my home town where my parents live decides to retire and give me his $80MM book. Then I'm moving to the country.If those guys are already established I doubt they are leading you down the wrong path, you are not going to impact them. I’d go with option 3 and door knock in 1 & 2 also. Just ask the guys if you can use their office for client meetings while you’re getting started.
[quote=henryhill]Volt,
Been w/EDJ for over 10 years and I am seg 5. I know a fair amount about what it takes to be successful in this business. I know Jack; and his friends Jose, Johnny and comrade Smirnoff. Henry[/quote]Henry, I'm sorry. I thought you were someone else. Keep drinking..
[quote=MJ]Uh Oh. Volt just got bitch slapped. Little Mr. Know-It-All! That deserves a moonwalk![/quote]
Just beat it
[quote=voltmoie]
Henry, I’m sorry. I thought you were someone else. Keep drinking…
[/quote]
See Windy and Polesmoker, et al? That’s all it takes. A quick and simple apology and we move on. Wasn’t so hard now, was it?
[quote=voltmoie] Henry, I’m sorry. I thought you were someone else. Keep drinking…
[/quote]
See Windy and Polesmoker, et al? That’s all it takes. A quick and simple apology and we move on. Wasn’t so hard now, was it?
Seriously. Why does all this Windy guy’s posts have (.) on them. You are talking an awful lot of smack, but I don’t see anything to make fun of. If there is, please let me know so I can join in.
He is older than 9 so you probably wouldn't be interested.Seriously. Why does all this Windy guy’s posts have (.) on them. You are talking an awful lot of smack, but I don’t see anything to make fun of. If there is, please let me know so I can join in.
I’m not here for that, although I will take your wifes number.
1-800-9isenufI’m not here for that, although I will take your wifes number.
Is that some sort of fetish you have?
You'll figure out my 9 is different than your 9 if you concentrate real hard.Is that some sort of fetish you have?
You'll figure out my 9 is different than your 9 if you concentrate real hard.[/quote][quote=MJ]Is that some sort of fetish you have?
lol owned
Thanks all for the advice hidden between the back and forth banter.
As far as where I live goes, it doesn’t really matter. All these places are within 30 minutes of my home and I have no intention of relocating. All these communities are affluent and have potential in one way or another, so I’m trying to figure out which makes the most business sense.
It may be hard to tap into the big corp hq. They have their own internal foundation that provides free financial education seminars all the time. These seminars are on-site and they can’t get anyone to show up with free food. when they have workshops at fancy restaurants with free steak, they still can’t get people to come. there’s nothing like dropping $2,000 for 25 no shows and 5 people who just came for the free food… but I digress.
On another note, I decided to interview with mssb next week. I still have a while before I start with EDJ. If I leave EDJ for another firm before I complete training, am I still on the hook for the $75,000?
If you get your license, EDJ will probably come after you for some money. If you are thinking about leaving that quickly, I would question if EDJ or this business is for you.
Just look at your damn contract. If you haven’t signed one yet, then no worries. But make sure you look at the wording VERY carefully. That will outline the timing.
Hope you don’t mind my 2 cents here … if you’re really looking to stay at Jones, remember the office itself is a trap and completely inconsequential to your success. Focus on good visibility, on being near a landmark in the area, and on cheap rent.
You won’t be having many appointments in your office. When you speak about your office, people should instantaneously know where you are without further elaboration (include the landmark in your card if you can). And finally … cheap rent gets you to profitability just a little bit quicker.
I guess I need to clarify here. I have not yet started with EDJ. I can’t control the fact that the process has moved slower with MSSB. It seems to me that I am a better fit with MSSB, but I have a solid offer with EDJ. I need a job and I am not about to tell EDJ to take a hike because I might potentially have a better job somewhere else. I want to have a decision from MSSB before my Jones start date. If they say “no,” I will start EDJ with 100% commitment and no looking back.
My concern is that I may get an offer from MSSB a week after I start training with EDJ. My understanding of my EDJ contract is that there is no financial obligation until after receipt of my CSD.
So far everything seems “ok” with EDJ except for the fact that they have been completely unhelpful in selecting my office location. Yes, I know I can prospect anywhere, but there are obvious advantages of certain locations versus others. If this were not the case, they would let everyone set up there offices wherever they want. I know their market research looks at factors like per capita income, market saturation, etc, but they are completely unwilling to share any of this information. They won’t even tell me if location A has more potential than location B. Thyey won’t even tell me where potential new office locations are in my area. I have to ask, “Can I go here?” and they tell me “yes” or “no.” When I asked if there were several new reps in an area, they wouldn’t tell me (I wanted to avoid knocking on doors two months after the last guy).
I’m just starting to feel like EDJ isn’t doing much to set me up for success. At least with MSSB, I can have a desk in a real office (as opposed to working out of my basement) and a phone line that can call coast to coast.
[quote=MBA2FA]I guess I need to clarify here. I have not yet started with EDJ. I can’t control the fact that the process has moved slower with MSSB. It seems to me that I am a better fit with MSSB, but I have a solid offer with EDJ. I need a job and I am not about to tell EDJ to take a hike because I might potentially have a better job somewhere else. I want to have a decision from MSSB before my Jones start date. If they say “no,” I will start EDJ with 100% commitment and no looking back.
My concern is that I may get an offer from MSSB a week after I start training with EDJ. My understanding of my EDJ contract is that there is no financial obligation until after receipt of my CSD.
So far everything seems “ok” with EDJ except for the fact that they have been completely unhelpful in selecting my office location. Yes, I know I can prospect anywhere, but there are obvious advantages of certain locations versus others. If this were not the case, they would let everyone set up there offices wherever they want. I know their market research looks at factors like per capita income, market saturation, etc, but they are completely unwilling to share any of this information. They won’t even tell me if location A has more potential than location B. Thyey won’t even tell me where potential new office locations are in my area. I have to ask, “Can I go here?” and they tell me “yes” or “no.” When I asked if there were several new reps in an area, they wouldn’t tell me (I wanted to avoid knocking on doors two months after the last guy).
I’m just starting to feel like EDJ isn’t doing much to set me up for success. At least with MSSB, I can have a desk in a real office (as opposed to working out of my basement) and a phone line that can call coast to coast.
[/quote]
Don’t worry…MSSB is not going to offer you a job. Go down to the basement, throw some paneling on the wall, and get to work.
MBA2FA it does not matter where you go. You are going to fail. You’re the same tool that said “I’m going to be an EDJ success story if it kills me” right? What a clown.
BTW dumb ass … just go to the edward jones website, type in the city, and it will tells you how many reps are in the area. My god, can people not think for themselves at all? Do you want someone to get in the car and help you pick out the city?
[quote=voltmoie]
MBA2FA it does not matter where you go. You are going to fail. You’re the same tool that said “I’m going to be an EDJ success story if it kills me” right? What a clown.
BTW dumb ass … just go to the edward jones website, type in the city, and it will tells you how many reps are in the area. My god, can people not think for themselves at all? Do you want someone to get in the car and help you pick out the city?
[/quote]
I need a DD for this party I’m invited to next weekend, so as long as you’re in your car…
No voltmoie, you are the dumbass. The four trainees that started in my town last month are not listed on the website, nor are the two trainees that just started in the next town over.
If I bypass Jones for a better opportunity, doesn’t that make me a Jones Success Story? You are the clown.
Why would Jones spend a fortune to have an entire staff dedicated to picking the areas it wants to penetrate if someone can just drive around and pick an area randomly like you say? I am surprised you have ever been successful at anything if you are that dense.
[quote=MBA2FA]
No voltmoie, you are the dumbass. The four trainees that started in my town last month are not listed on the website, nor are the two trainees that just started in the next town over.
If I bypass Jones for a better opportunity, doesn’t that make me a Jones Success Story? You are the clown.
Why would Jones spend a fortune to have an entire staff dedicated to picking the areas it wants to penetrate if someone can just drive around and pick an area randomly like you say? I am surprised you have ever been successful at anything if you are that dense.
[/quote]
Hit a nerve? You are going to fail … I am trying to save you from
yourself. You are either not smart enough to do any leg work on your
own or too damn lazy. Both spell disaster.
How about calling
your RLs office and asking his opinion or asking his BOA where the new
folks are? That’s pretty damn tough. Or heck, maybe you’ll find the
answers on registered rep… idiot!
I hope I’m wrong.
FYI, I have done more research than you can possibly imagine. I have met with more than a dozen local FA’s and BOA’s, driven around almost every potential area within 50 miles of my home. I have pulled census data, checked lease rates in potential areas, etc. I have made finding the best location a full time job before I have even begun.
I have also spent countless hours searching these forums for answers and insight. The question I posed in this thread is very specific and not addressed on any thread. Volmoie, if you don’t like helping people, why don’t you just mind your own business and get on with your own miserable life?
BTW, the only person who has not helped me in any way is my RL. I have never met him in person. Whenever I catch him on the phone, he says he is busy right now and will call me back later. I had to pick my market area without any assistance from him at all. If I didn’t pick an area, I would have missed my training class date. Fortunately, I already spent more than 80 hours researching areas. My question on the forum only addressed 3 areas, what I never asked about was the dozens other areas that I ruled out for one reason or another.
[quote=MBA2FA]FYI, I have done more research than you can possibly imagine. I have met with more than a dozen local FA’s and BOA’s, driven around almost every potential area within 50 miles of my home. I have pulled census data, checked lease rates in potential areas, etc. I have made finding the best location a full time job before I have even begun.
I have also spent countless hours searching these forums for answers and insight. The question I posed in this thread is very specific and not addressed on any thread. Volmoie, if you don’t like helping people, why don’t you just mind your own business and get on with your own miserable life?
BTW, the only person who has not helped me in any way is my RL. I have never met him in person. Whenever I catch him on the phone, he says he is busy right now and will call me back later. I had to pick my market area without any assistance from him at all. If I didn’t pick an area, I would have missed my training class date. Fortunately, I already spent more than 80 hours researching areas. My question on the forum only addressed 3 areas, what I never asked about was the dozens other areas that I ruled out for one reason or another.
[/quote]
Liar.
Office location is not as important right now as you think. Once the time comes you can change your mind. What you need to do is decide where is the best location for you to meet you current goals. If you are just now starting series 7 training then concentrate only on that and enjoy your short lived free time. If you are just back from kyc then go wherever you want and get as many names to call as possible for eval/grad. Anyone anywhere is open game for you. Don't get confined to any particular area. Trust me on that. EJ doesn't know or care if you are traveling outside your selected area. Your goal will be to have 1000 people will to let you call them and pitch an investment "opportunity" to them during Eva/Grad. If one thing is consistant at EJ it is that everything consistantly changes. People in and out of areas and offices all the time.
Good luck[quote=DeBolt]
Office location is not as important right now as you think. Once the time comes you can change your mind. What you need to do is decide where is the best location for you to meet you current goals. If you are just now starting series 7 training then concentrate only on that and enjoy your short lived free time. If you are just back from kyc then go wherever you want and get as many names to call as possible for eval/grad. Anyone anywhere is open game for you. Don't get confined to any particular area. Trust me on that. EJ doesn't know or care if you are traveling outside your selected area. Your goal will be to have 1000 people will to let you call them and pitch an investment "opportunity" to them during Eva/Grad. If one thing is consistant at EJ it is that everything consistantly changes. People in and out of areas and offices all the time.
Good luck[/quote] Office location seems to be sort of a Jones preoccupation. Most other firms call on many areas. I personally have been cold-calling outside my area for months because I saw some opportunities in a few cities over where there is no Jones presence and a couple waning offices. It's another stupid thing to waste a lot of time thinking about instead of prospecting, like whether or not you should have your middle initial on your business card. Is it important? Sort of. Will it break your business? Probably not.Someone else got booted. Wow, the admin is hot with the delete button!!!
Who else got booted, and how do you know?Someone else got booted. Wow, the admin is hot with the delete button!!!
DHK, windy, JAXSON, max
Pick the crappy one and make it the best… its hard to make something good look better, but it’s easy to take a sh*t office and make it shine (you’ll have to bust your ace either way)
Any good demographic sites anyone here uses?
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