What's Wrong with this Picture? Choosing a Franchise Location!

Posted by Jim Otto on Thu, Jun 15, 2017 @ 11:06 AM

franchiselocation.jpgOur world headquarters is located in beautiful Johnson County, Kansas. Not far from our corporate office lies the busiest restaurant in the community, Nick and Jakes. It's located in the heart of Overland Park, Kansas on one of the busiest streets in town. With the high incomes of the local population and great visibility, this location seems like a no brainer!
 
However if you study the picture a little closer, you'll see that the restaurant next to Nick and Jakes is up for lease. In fact, for the 4th time in the last six years a restaurant has come and gone here in one of the hottest corners in Johnson County, right next to one of the busiest restaurants.  A banker recently told me that over three and a half million dollars has been spent on build-outs over the last 6 years trying to make something work, all to no avail. Now I know what you're thinking. Nick and Jake's must be so good that nothing can compete! And while that might be the case, it got to be such a topic of discussion around these parts that the owners of Nick and Jake's decided to put something in there - and it failed too! 
 
Why am I telling you all this? Because I think it's so important to illustrate how important (and difficult) it is to find the right franchise location. Choosing a franchise location or finding the right location for your business has a LOT of variables. But a great place to start is by first asking the following question: Will this franchise even work in my area?
 
Some other great questions to ask are:
 
1) What is the total population in my trade area, and how far will customers drive to come to my business? Make sure that you know who your customer is and if there is enough of them to support your business. 
 
2)  Income levels are another important factor. Most all businesses need customers with at least some discretionary income.
 
3) Population density. This is NOT the same thing as total population. Every business has a distance that people will drive for that good or service. For example, a sub sandwich shop may only need a certain amount of people within  a mile of its location to be successful, whereas a specialty hair salon may need to draw people from a six mile radius. Make sure your franchisor can tell you what the density requirements are for your business. 
 
4) Demographic makeup. Whatever your business, it will appeal to a certain group of people. The broader that appeal is the better, but many businesses are successful by catering to an underserved niche. just make sure that you have investigated who those customers are and if there are enough in your area.  
 
5) Competition and saturation does happen. Look at all the competitors you have and see how you stack up. If you aren't able to differentiate yourself and create a better customer experience then what's already there, you may have a tough time getting customers to switch to YOUR business.
 
Which brings me back to that space for lease in the picture. Some spaces - for whatever reason - just don't have that "it" factor.  While those are the spaces that a lot of landlords will encourage you to take, it's those spaces that you need to avoid! Good Luck on Finding a GREAT location for your business!
 
Shear Madness Franchising franchises Shear Madness Haircuts for Kids salons. We have worked with franchise stores in providing franchisee support (in order to encourage continual growth and franchise success), and have sometimes seen the unexpected happen!  When it does, we help by identifying and helping with challenges that might arise for franchisees. Additionally, we work to present options that can help prevent these events as well. As many franchise owners may not have opened a business before, having someone who can advise them is a significant advantage of franchise ownership!

Would you like to sign up for our Monthly newsletter? If so, click HERE!

Are you interested in learning how YOU can join the Shear Madness Haircuts for Kids family and run your own successful small business? We are one of the fastest growing kids hair salons in the industry today! If you would like to learn more about this franchise opportunity or small business marketing, great marketing strategies, resources for small businesses, how to grow your small business or how to become a successful owner of your own kids hair salon franchise business, please click below or call 1-888-98 GONE MAD

Exploring a Children's Salon Franchise

Topics: how to begin a business, Business Tips, small business how-tos, growing a small business, franchising, franchisee support, business success, business skills, franchise success, business ownership, franchise location, choosing the right location

If You Fail at This, You Will Probably Fail at Franchising!

Posted by Jim Otto on Thu, May 11, 2017 @ 17:05 PM

dontfailatthis.jpgAh yes! When it comes to buying a franchise, everything is set up for you to succeed. Support systems are in place, along with great training - all you have to do is follow the franchisor's proven systems! Right? 
 
Unfortunately there is a missing link to all of this. Your ability to manage, communicate and motivate your staff and employees is crucial to your success. If you have this ability, you will be able to create a great work environment at your business. This helps create customer satisfaction, which in turn can create strong retention and word of mouth for your business,  which will then help create higher revenue. On the other hand, if your staff is constantly turning over it can lead to things like low moral and infighting inside your business. Unsurprisingly, customers can feel that when they come in, and they won't come back.  Also, the cost of retraining staff and employees due to a high turnover can cost your business. According to a recent CAP study, the cost of replacing a $10 an hour retail employee is $3,328. 
 
Additionally you will need to communicate with a few unhappy customers from time to time, as they may not have had the experience that they had expected at your franchise. You and your staff's ability to convey your company culture to your customers is another part of the communication skills that you need. No wonder candidates that have had previous  experience owning and managing a business are so valuable to franchise systems. Good Luck with your search, it's an exciting time to own a business!
 
Shear Madness Franchising franchises Shear Madness Haircuts for Kids salons. We have worked with franchise stores in providing franchisee support (in order to encourage continual growth and franchise success), and have sometimes seen the unexpected happen!  When it does, we help by identifying and helping with challenges that might arise for franchisees. Additionally, we work to present options that can help prevent these events as well. As many franchise owners may not have opened a business before, having someone who can advise them is a significant advantage of franchise ownership!

Would you like to sign up for our Monthly newsletter? If so, click HERE!

Are you interested in learning how YOU can join the Shear Madness Haircuts for Kids family and run your own successful small business? We are one of the fastest growing kids hair salons in the industry today! If you would like to learn more about this franchise opportunity or small business marketing, great marketing strategies, resources for small businesses, how to grow your small business or how to become a successful owner of your own kids hair salon franchise business, please click below or call 1-888-98 GONE MAD

Exploring a Children's Salon Franchise

Topics: franchise buyers, buying a franchise, franchise opportunity, how to buy into a franchise, how to begin a business, Business Tips, business growth, business relationships, franchising, franchise research, evaluating a franchise, franchise, franchise success, franchising, franchise ownership, business skills, franchise success, business ownership

Four Basic Steps to Evaluating a Franchise System

Posted by Janon Otto on Fri, Jan 13, 2017 @ 14:01 PM

franchisesuccess2.jpg

New businesses are formed every day.  And businesses close their doors every day as well!  The chances of starting a blockbuster business on your own are small.  This is why the whole idea of buying a franchise business is a popular one!  Those businesses should have a track record of being successful, and should have systems in place that you can replicate. 

Running a business can be hard work, and it can encompass many challenges that most people have never encountered. But it's arguable that when you invest into a  franchise system, you have a greater chance of success. Plus, most  franchises (like Shear Madness Haircuts for Kids) do offer the advantage of a successful business history and scalability. However, as implementing a salon franchise system does take effort, you'll want to make sure all your questions are answered through doing a little research. 

How can you research a franchise system?  Because our expertise is in a salon franchise - we will address that situation directly, however most of these apply to any type of franchise system.

1.  Contact salon franchises, reach out to the franchisors, and compare business models!  Which one suits your interests?  Which one has the best opportunity for financial success, etc.

2.  Look at the Franchise Disclosure document and the Franchise Agreement.  Many people confuse these documents.  The Franchise Disclosure document lays out the facts about a franchise, how much it costs, the fees, history, current franchise locations, etc.  This document also lays out the details of the training that they offer - this is an important area to compare systems.  The more training, the better!  The Franchise Agreement is the document that you must sign to become a franchisee of the system.  Here is where the fine print details lay.  How is the Royalty collected, how can I advertise, what is my territory, etc.

3.  Talk to current franchisees.  These are the ones who have been through what you are thinking about pursuing.  They are free to tell you actually more than the franchisor can tell you!  The franchisor is bound by rules the FTC puts out about what they can and cannot say to any prospective franchisee.  But, the franchisees can tell you whatever they would like to tell you!

4.  Seek out a franchise business that currently has a long track record of success. Keep in mind that the franchise system itself may be younger than the actual concept itself.  Find out how long the franchisor has had a history with the concept itself.  Have they really figured it out before offering the franchise? For example, here at Shear Madness Franchising, we franchise Shear Madness Haircuts for Kids salons the Franchise system was started in late 2010, but the first salon has been inexistance since 1997!  

We have worked with our franchisees in growing their business, and truly want to help ensure sure they are on a path to franchise success. Why? Because we understand that having someone who can offer expert advice on growth and scalability is one of the significant advantages of franchise ownership!

Are you interested in learning how YOU can join the Shear Madness Haircuts for Kids family and run your own successful small business? We are one of the fastest growing kids hair salon franchise systems in the industry today! If you would like to learn more about small business marketing, great marketing strategies, resources for small businesses, business tips, how to grow a small business, or how to become a successful owner of your own kids hair salon franchise business, please click below or call 1-888-98 GONE MAD!

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Topics: franchise, salon franchise, franchise buyers, buying a franchise, Business Tips, franchising, franchise research, evaluating a franchise, franchise ownership, business success, business skills, franchise success

September Blog Digest: Starting Your Own Business?

Posted by Matthew S on Mon, Sep 19, 2016 @ 14:09 PM

Sept16BlogDigest.jpgWhen starting a new business by yourself, sometimes it might seem like doing your own research and going at it alone is the most attractive option. But ultimately, this might not be a good idea. Not only could you possibly be doing the wrong research and making investments that might not be financially profitable over the long run, but you just might not have all the necessary information at your fingertips that can help ensure business success! Want to know more? Don't miss the rest of this very helpful article over at: In Business, One is the Loneliest Number! Also, be sure to check out some of our many other latest resources below, or by visiting our ever growing Shear Madness Franchise Blog!

Are you ready to turn your dream into a reality? Shear Madness Franchising franchises Shear Madness Haircuts for Kids salons. We have worked with franchise stores in providing franchisee support (in order to encourage continual growth), and have sometimes seen the unexpected happen!  When it does, we help by identifying and helping with challenges that might arise for franchisees. Additionally, we work to present options that can help prevent these events as well. As many franchise owners may not have opened a business before, having someone who can advise them is a significant advantages of franchise ownership! Click below for our free download - the Franchise Buyer's Toolkit!

Exploring a Children's Salon Franchise

Are you interested in learning how YOU can join the Shear Madness Haircuts for Kids family by starting your own business? We are one of the fastest growing kids hair salons and franchise systems in the industry today! If you would like to learn more about small business marketing, great marketing strategies, resources for small businesses, business tips, how to grow your small business, or how to become a owner of your own kids hair salon franchise business, please click below or call 1-888-98 GONE MAD!

Until next time, have a great rest of the month! - The Shear Madness Team

Topics: franchise, franchising, blog digest, business success, business skills

Blog Digest: What are Franchise Buyers Looking For?

Posted by Matthew S on Thu, Aug 18, 2016 @ 17:08 PM

August16BlogDigest.jpgWhat are prospective franchise buyers looking for when it comes to buying into a franchise system? We opened this question up to some of our Shear Madness Haircuts for Kids franchisees, and this is some of the feedback we received. First of all, Communication is  Key. It may seem like a given, but it's true! Franchise communication is important through all aspects of franchising - from being able to effectively communicate with customers, to being able to have great communication channels between potential area developers, franchisors, franchisees, and everyone in between. As such, franchise buyers should be looking for a communication system that ensures consistency and timeliness of communication. Similarly, a means by which franchisees throughout the system can easily and effectively communicate with each other is also very helpful. Many franchisees join a franchise for the systems and support, so it's critical they get it! To check out more about this topic, please read more atWhat do Franchise Buyers Want and Need? We Asked - Top 8 Answers! In the meantime, feel free to take a look at some of our latest Blog articles for August!

August Blog Resources:

Turn your Dream into Reality! Are you or someone you know interested in learning more about how to become a successful owner of your own kids hair salon franchise business? If so, please click "franchise opportunities", call 1-888-98 GONE MAD, or download our FREE Franchising Toolkit at the link below!

Exploring a Children's Salon Franchise

We hope you've enjoyed our August edition of the Shear Madness Blog Digest. If you'd like to check out our entire library of blog articles, please click on Shear Madness Blog. In the meantime, if you should ever have any questions or articles that you might like to see us discuss in a future blog article, please don't hesitate to call or write us an e-mail. Until next time, have a GREAT rest of the Summer! 

The Shear Madness Team

Topics: franchise, franchising, blog digest, business success, business skills

July Blog Digest: The 3 Must Have Skills!

Posted by Matthew S on Tue, Jul 26, 2016 @ 14:07 PM

kidsfranchise2.jpgDo you have the three "must have" business skills for franchise owners? Many people that contact me are “romantically” attracted to our concept. They love the idea of a cute, fun and brightly colored place to take kids for a great haircut. Or I hear, “I love children, so I was really attracted to this." However, it is a business!  To succeed you need skills too!  Interested in learning just what those top 3 skills are?  Find out by reading here!

Meanwhile, if you'd like to read about a variety of other subjects related to franchising and the successful operation of a small business, please click on Shear Madness Franchising Blog or check out some of the latest articles below!

Turn your Dream into Reality! Are you or someone you know interested in learning more about how to become a successful owner of your own kids hair salon franchise business? If so, please click "franchise opportunities", call 1-888-98 GONE MAD, or download our FREE Franchising Toolkit at the link below!

Exploring a Children's Salon Franchise

We sincerely hope you've enjoyed our July edition of the Shear Madness Blog Digest. As always, if you should ever have any questions or articles that you might like to see us to discuss in our blog, please don't hesitate to call or write us an e-mail. We're having a great day, and we hope you have one too!

The Shear Madness Team

Topics: franchise, franchising, blog digest, business success, business skills