While running your own business can be a difficult challenge, it can also be one of the most rewarding experiences that life has to offer! Not only does it take being able to understand market demands, but it also means having a viable small business plan (a process and product in place) that will support the business, as well as provide an income for the owner. While many potential business owners may have a great idea for a business, business growth and long-term success requires being able to be focused, disciplined and at times - an out-of-the-box thinker! Below are 4 keys that can help your business or franchise location build success.
Location - You might have the most amazing concept for a business or franchise, but if it's located in the wrong area - it's just not going to work. Or, it might not work as well as it could in a more ideal area. So be sure to do your research in finding out which areas in your community are most ideally suited for your concept. For example, if it's a business that is geared more towards children, look at the demographics of how many young families are in a particular area. Likewise, if it's a concept that's more for retired people, you'll want to find an area where there are a lot of retirees who might be interested in what it is that you're offering. Additional considerations might be trying to gauge how much people might have in "disposable income" in a particular area. A community that doesn't have a lot of extra money to spend may not be interested in spending money on whatever it is that you have to sell.
Marketing - It almost goes without saying that one of the key components of any successfully run business is the strength of their marketing strategies. Marketing is what helps bring customers through your door, and can be accomplished through everything from more traditional methods (like print ads, handing out flyers at parades, using coupons, and word of mouth marketing) to more modern methods (like social media marketing, blogging, and running an effective, up-to-date website). Many business owners might also find success in working within the community through a local charity effort, as more and more customers are finding value in businesses who sincerely engage in some kind of non-partisan efforts to help better the community around them.
Attitude - The attitude, or "feeling" that your business gives a customer can largely be helped or hindered by the attitude of your employees. Good employees who are also happy are more willing to help customers, as well as be more loyal and engaged in doing a good job for their employer. On the flip side, employees who are generally unhappy or have bad attitudes about their work are more likely to pass this feeling on to customers. So it's important to make sure that your employees have good attitudes, and to try to help facilitate the positive atmosphere at your work place by giving awards for good work performance, hosting a holiday party, having a clean breakroom and restrooms for employees to use, and maybe offering employee discounts for services that your business offers.
Management - An important consideration when running your business is the strength of your manager or management team. While you may not be able to be physically at your business at all times, it's still important to be aware of what's going on through your managers. A great manager is able to share with you what's going on, as well as help maintain a great atmosphere for employees and customers alike. For example, managers can help you know the attitudes of employees, whether they are showing up for work, and if they're taking overly long breaks. You'll also want to keep close attention on the possibility of an employee who might be "dipping into the till" through the careful monitoring of receipts, record-keeping software, or even video monitoring equipment. If any of these areas are a problem, be sure to address them quickly either through meeting with the employee in question, issuing a warning, or possibly even a professionally conducted dismissal from the 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 business 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!
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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 our franchise opportunity, or about 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
