Fastsigns Analysis

Fastsigns is a sign company that uses computer technology to make high quality signs in a fraction of the time that it takes traditional sign companies. The company was founded by Gary Salomon along with Steve Mailman, and Bob Schaunbaum who used their own personal savings as well as a bank loan to launch the business. Because there was no income in the beginning, Salomon continued to work a regular job for 10 months while getting the company off the ground.

Salomon purchased the rights to the technology used to make the signs from an inventor who was not interested in expanding the business further. Although the idea didn’t originate with him, it was his Salomon’s vision, money, and drive that would make it an international success.

Once the first location reached its goal of $15,000 per month in sales the next step was to sell franchising opportunities to grow the business. While this proved to be very successful, Salomon was looking for a particular “type”of person to own and run the businesses. His focus was on business professionals who were used to a systems based working environment. People who would be comfortable following the model put in place by the founders.

Salomon’s management philosophy is simple and effective.

1. Be willing to listen to suggestions and ideas of others

2. Welcome ideas from employees that could prove beneficial to the company and give credit where it is due

3. Give those in change the opportunity to fail or succeed without micro-managing

4. Encourage a work environment where employees feel comfortable sharing their ideas