Briana Hall

Recent Posts

Your Employees Have To Have These Two Things

Posted by Briana Hall on Thu, Mar 26, 2020 @ 15:03 PM

Every business wants to build the dream team with their employees. The way to do that is to find someone who has these two qualities! Let us help you nail down those two personality traits that will take your business to the top!

Build-Your-Dream-Team

When you buy a franchise there are lots of things that the franchisor will teach you. The systems that a franchise has and how well you follow those systems may ultimately be the difference between your success or failure. One area that you will have the most control over is your staff and employees. Your franchisor will help you with build-out, initial and on-going training support, marketing, even guidance on getting to break even and beyond, but you will have to manage your staff. Your Human capital is one of the most vital parts of your franchise operations for a number of reasons. Your employees deliver your product, they are the face of your business, they create the fabulous experience that brings your customers coming back, they create those little interactions that make your customers think, " Wow, this company really gets me". Developing a great staff doesn't happen over night, it takes time. Additionally, if your new hires don't have the following two attributes, getting your franchise to where you want it to be is going to take longer than planned. 

* A Work Ethic -  You can't teach someone to have a work ethic. Work ethic is a tricky thing, some people have it out of need, they have a family and need to support and provide for their family. Some people learned it from there parents and are modeling it. But one thing is for sure, if you are going to put together a great team, having employees with a good work ethic is critical. 

* Attitude - I have heard people say, "That person needs an attitude adjustment”, and you know I have seen that work, but only on a temporary basis. You know what behavioral psychologists will tell you, past behavior is the best predictor of future behavior. Companies spend a great deal of time and money working with and trying to fix people with bad attitudes. Find people with a good attitude about your company right from the beginning, nurture and train them, show them there valued, and your people will work together as a team. 

Getting your staff to work together as a team to create a fantastic customer experience is crucial to your franchises success. During the interview process you can ask questions that will give you clues on whether your candidate has these two important attributes. You are going get to where you want to go a lot faster if you can find candidates that have these two attributes. 

 

Make a Positive Difference TODAY

francomparesmfawardShear Madness Franchising franchises our award-winning Shear Madness Haircuts for Kids salons  (FranCompare™ Best in Child Hair Care 2018). 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!

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, franchise success, 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

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

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Topics: franchise, salon franchise, franchise opportunity, Shear Madness Haircuts for kids, how to buy into a franchise, successful franchisees, employee, employee loyalty, business growth, franchising, franchise growth, business success, kids hair salon, franchise success, multiunit franchise, best kids hair salon, building relationships, small business success, business, kidshaircuts, frequently asked question, franchise investment, profitability

The TWO Most Important Words in Franchising

Posted by Briana Hall on Tue, Feb 11, 2020 @ 11:02 AM

When starting your business, you have to think about about a lot of different components. But when it comes to specifically, what your business is going to and who is going to be your target market, you need to get very specific.

2-words-in-franchising

When you buy a franchise you may think that you know who your customer will be, "women, between the age of 22 and 44".  However, if you want to have a really successful franchise business you have to go a lot further then that. You have to know your Core Customer, and then you have to Zero in on them. 

Create a vivid picture in your head of what your most valuable customer looks like and keep this virtual person clearly in your mind. Define that customer in a "who" statement, a who statement is designed to create a clear, defined and definitive picture of who your core customer is. 

As an example if you were wanting to own a chain of high end tanning salons your who statement may read something like; An image-conscious single women who wants to look and feel better with little investment in time and money. 

By clearly defining Who your core customer is, you can now turn to the all important subject of What your business does.  Knowing your Core Customer and zeroing in on them is the real difference between owning an average location or one that sets the pace for the system! 

Make a Positive Difference TODAY

francomparesmfawardShear Madness Franchising franchises our award-winning Shear Madness Haircuts for Kids salons  (FranCompare™ Best in Child Hair Care 2018). 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!

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, franchise success, 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

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

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Topics: franchise, salon franchise, franchise opportunity, Shear Madness Haircuts for kids, how to buy into a franchise, successful franchisees, employee, employee loyalty, business growth, franchising, franchise growth, business success, kids hair salon, franchise success, multiunit franchise, best kids hair salon, building relationships, small business success, business, kidshaircuts, frequently asked question, franchise investment, profitability

Here Are The 3 Things That are Gonna Happen When You Buy a Franchise

Posted by Briana Hall on Fri, Jan 3, 2020 @ 11:01 AM

There are 3 Phases that will bring your franchise to the moon, around it, and back home! We are here to let you know what those 3 phases are, what to expect, and how to navigate these waters as new owner.

What-happens-when-you-buy-a-franchise

When you open your franchise there are three things that are going to happen. I have done it myself, and have talked to a lot of others who have opened franchises. I can't tell exactly how long each one of these three things is going to take, only that they are going to happen. They are going to happen a little differently depending on your franchisors training and the concept that you bought into. But they are going to happen. 

Phase One: People - You’re going to spend a lot of time looking for the right people. In today's tight labor market finding the right people is a big challenge. It can take six to nine months to get a set staff, and sometimes longer. The people that you think are going to stay don't, and the ones you may not see potential at first may be the ones who rise to the top. As they say, can't "pull the wagon" without the right team. And your team delivers your product. 

- Phase Two: Learning - The second month should be focused on a better understanding of the systems and processes. Yes, I know what you’re thinking; the franchisor taught me all the systems during training! The best analogy I can give you is the Astronauts that went up in Apollo 13 trained for two years for their mission. They had prepared for every type of scenario except for the type of explosion that happened and how to replace the oxygen filter to get back to earth. But together with mission control (your franchisor) they figured it out and got home safely. In business we call that "mission accomplished"

- Phase Three: Implementation - After the first 60 to 90 days you will have the real world knowledge of running your franchise. You will begin to find out why the franchisor does things the way they do and why they taught you to do it that way during training.  Over time you will start to see your momentum building and the future you are building start to come into focus. 

Building a successful business takes time and a franchise is no exception to that. However your ramp up time should be a lot faster with a franchise, and having "Mission Control" to guide you is a big reason why franchising has become such a successful avenue to business ownership!

 

To Infinity and BEYOND!

francomparesmfawardShear Madness Franchising franchises our award-winning Shear Madness Haircuts for Kids salons  (FranCompare™ Best in Child Hair Care 2018). 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!

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, franchise success, 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

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

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Topics: franchise, salon franchise, franchise opportunity, Shear Madness Haircuts for kids, how to buy into a franchise, successful franchisees, employee, employee loyalty, business growth, franchising, franchise growth, business success, kids hair salon, franchise success, multiunit franchise, best kids hair salon, building relationships, small business success, business, kidshaircuts, frequently asked question, franchise investment, profitability

This is What You Need to Succeed as a Franchise Owner

Posted by Briana Hall on Fri, Dec 27, 2019 @ 10:12 AM

What makes you the perfect franchise owner? Is it your business degree? Previous experience owning a business? Your people skills? All are great qualities, but being a SUCCESSFUL franchise owner takes something a little different that just might surprise you!

What-it-takes-to-be-a-successful-franchise-owner

 I was recently looking through a research report about what types of people make the best franchisees. The answer may surprise you, although intelligence, business skill, and former experience as a business owner are highly valuable characteristics. However, the fact that you have an MBA did not get you to the top. Neither did the fact that you may have been a CEO of a fortune 500 company. Instead, the report listed Sales Executives as the top candidates to become successful franchisees. 

As I began to examine their reasoning, I saw that Sales Executives have the following traits:

  • In a way Sales Executives are already small business owners. They believe in their product and have to go out everyday and sell it. In addition they understand that they are paid to produce, unlike people who have been on a salary there whole life. 
  • Sales Executives don't cower when times get tough. To anyone who has lived on commission you know the sales cycle can be brutal. However, you conquer these cycles by working harder when needed - always believing that things will get better. 
  • Most of all, Sales Executives relish the thought of unlimited earnings potential. It's what motivates them to get out of bed everyday. 

What the article failed to mention was one other thing that is consistent with all great franchise owners. Great franchisees understand that they are not in the product or service business; they are in the Relationship business. Building a relationship with your customers where they understand the purpose of your business, and building relationships with your employees so that they can deliver that good or service to those customers, is the key to great franchisee success!

 

Success is in YOUR Future!

francomparesmfawardShear Madness Franchising franchises our award-winning Shear Madness Haircuts for Kids salons  (FranCompare™ Best in Child Hair Care 2018). 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!

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, franchise success, 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

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

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Topics: franchise, salon franchise, franchise opportunity, Shear Madness Haircuts for kids, how to buy into a franchise, successful franchisees, employee, employee loyalty, business growth, franchising, franchise growth, business success, kids hair salon, franchise success, multiunit franchise, best kids hair salon, building relationships, small business success, business, kidshaircuts, frequently asked question, franchise investment, profitability

The Key to Franchise Profitability

Posted by Briana Hall on Fri, Dec 6, 2019 @ 09:12 AM

Can the consumer do it themselves? If they can't or just don't want to, well, you just might have the potential to start up a business in your community then! People are willing to pay to forget the hassle and seek help from a business who specializes in that specific service to simply make their life easier, and why not?! Today, we are here to talk to you about the KEY to making your franchise profitable!

The-Key-to-Franchise-Profitability

Many of you may have seen a show on TV called Shark Tank. If you haven't, entrepreneurs attempt to convince 6 highly successful business people as to why they should invest their money in the next great business idea. Most businesses start this way and unfortunately it's probably one of the biggest reasons for business failure! 

Many people start their search for a franchise without measuring the most important thing: are there customers for the franchise? More importantly - and don't miss this - is doing what you are doing so PAINFUL (so-to-speak) for the customer to do themselves, that they have to come to you?  In business we call this the Shark Bite (no correlation to the Shark Tank). If your customer can do it themselves or go to you, well that may be like a mosquito bite - and it may be a nuisance that they are willing to live with. However if the customer's pain feels something like a shark bite, then customers will be eager to pay you to ease their pain!  

Great businesses and franchises begin by solving a customer problem. This is why it's so important to try and figure out if the franchise that you are buying solves the pain your customers are feeling. For example, take our Shear Madness Haircuts for Kids salon franchise. I know that many of you reading this may be parents, and let's be honest...have you ever tried to cut your two year old's hair? Trust me, it's a shark bite, and our customers are more then happy to have one of our award winning stylist ease their pain vs. trying to do it on their own. And with our TVs and Xbox games at every station to help provide a positive distraction for their children, they end up coming back for years!

So before you select a franchise, focus on the BIG pain point. Remember that any big problem is a big opportunity, and customers will be more then happy to pay you to ease their pain.

 

Award Winning Care!

francomparesmfawardShear Madness Franchising franchises our award-winning Shear Madness Haircuts for Kids salons  (FranCompare™ Best in Child Hair Care 2018). 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!

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, franchise success, 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

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

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Topics: franchise opportunity, how to buy into a franchise, employee, employee loyalty, business growth, franchising, franchise growth, business success, kids hair salon, franchise success, multiunit franchise, best kids hair salon, building relationships, business, kidshaircuts, frequently asked question, franchise investment, profitability

The 7 Most Important Questions to Ask!

Posted by Briana Hall on Wed, Nov 20, 2019 @ 11:11 AM

Honestly, this process of finding a Franchise that is PERFECT for you is daunting, hard, and takes a long time. But there are some things to help you know that you are researching the best fits for you. We are here today to give you 7 questions to ask when you call the franchisees so you get a better feel for the company you are looking to invest in. 

7-most-importnat-questions

Potential franchise candidates frequently ask me for the phone numbers of our franchise partners so they can validate our concept. If you have never seen or requested a Franchise Disclosure Document, commonly referred to as an FDD, the numbers of all current franchisees should be listed in the back of the document. I recommend that you ask the following questions as a starting point, because without the right answers to these questions you may want to look elsewhere!   

1) Tell me about your journey to find this franchise? - Everyone starts his or her search for a franchise with a journey. Remember your asking someone who was right where you are at some point! Why did they move forward? It will tell you a lot why you may or may not want to.  

2) Could you have done this alone, without being part of a franchise? If the franchisee feels like they could have done this without the franchisor, well, that defeats the purpose of buying a franchise. The franchisee should have no doubt that without the guidance of the franchisor they would have not been able to succeed to the extent that they have.

3) What does your franchisor provide you that benefits you the most? If franchisees can't tell you what benefits them the most about being part of the franchise system, then the franchisor may not be supporting the franchisees to the extent that you may need.

4) Is the Franchisor accessible when you need them the most? Every business will run into those times when you not only need an answer BUT you need it right now! Making sure that the franchisor is available during those times and responsive to the franchisees needs is critical. 

5) What is the impact been on running your business on your social life initially, and now? The most overused word in franchising is: absentee; business is hard and can cause a disruption in your personal life. You can imagine what your day-to-day life will look like, but talking to someone who is living it will give you the real picture.

6) How do you run your business, do you work in the business or do you use a manager? Some franchises you can run with a manager doing the day-to-day operations and some you can't. If you have a full time job that your planning on keeping you better find a franchise that can be run and run well with a manger.

7) What is the most challenging and what is the most rewarding part of owning your franchise? As I mentioned earlier, owning a business is not easy and you should try to find out what challenges the franchisees are facing. At the same time if there is no reward in what you are doing then what good is that? I always like to end with this question; it can go along way to fulfilling your dream or avoiding a nightmare!

These questions are a good starting point in your due diligence process. They will give you a clearer picture of the franchisors support and what your day-to-day life may look like if you buy into a particular franchise system. At Shear Madness Haircuts for Kids your success is important to us, our systems and process have been tested over a long period of time. But don't take my word on that, listen to one of our franchisees answer these questions on the attached recording, and good luck on your search!

 

The Road to YOUR SUCCESS!

francomparesmfawardShear Madness Franchising franchises our award-winning Shear Madness Haircuts for Kids salons  (FranCompare™ Best in Child Hair Care 2018). 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!

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, franchise success, 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

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

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Topics: franchise opportunity, how to buy into a franchise, employee, employee loyalty, business growth, franchising, franchise growth, business success, kids hair salon, franchise success, multiunit franchise, best kids hair salon, building relationships, business, kidshaircuts, frequently asked question, franchise investment, profitability

Why Some Franchises FAIL Before They Even Open

Posted by Briana Hall on Wed, Nov 13, 2019 @ 10:11 AM

We have all heard the big movie business men say, "Location! Location! Location!". And it's to their employee who is sent out to scout a new place for this huge business (and it is always around a holiday so they are being forced to get it done before the holiday so they don't have to miss it) who doesn't really want this huge pressure of finding the perfect spot. But really, the big boss man isn't wrong. You need that perfect location WITH that perfect rent price.  

Location-and-Rent

You know, I'm amazed at how many people sign a franchise agreement and then fail to spend the proper amount of time finding a good location with a reasonable lease payment. If you look at the reasons that franchises fail, you'll often see two of the following listed: a bad location, and paying unreasonable (too high) rent. Finding a good location AND one where you are not paying excessive rent can be tricky. Think about it...A+ location landlords know that they can charge A+ rents. They have the high velocity traffic, visibility, and access that the tenant need. You may be able to go to a B+ or even a B space landlord and get a much lower lease payment. However you may not have the traffic that you need for your business to be successful, and as a result you'll need to spend a lot more on marketing in order to tell customers where you are. There are lots of variables when it comes to finding a space and I'll cover more of these later on. But for now, here are two of the easiest ways to avoid getting a bad space: 

Be Patient - Again, I'm always amazed by how many people sign a franchise agreement  - but then are so excited to get started that they sign a lease on a bad space. On the other hand I've seen people look for a space for so long that they weary of the process. And then to top it all off, the franchisor starts putting pressure on them to get open - so they sign a lease with sky high rent, which makes it very difficult to have a profitable location. Before you make either of these mistakes remember this, you assume an obligation to make payments for the LIFE of the lease. 

Have a Lease Attorney Review the Lease - Yes, I used the word lease twice. If your Brother-in-law is an attorney but he doesn't specialize in leases, it's best to just see him at Thanksgiving and not have him review your lease. Landlords will have your head swimming with terms like Severability, Subleasing, Joint and Several Liability, Default and Use of Premises (have I convinced you yet, or do I need to go on!). A good lease attorney can save you thousands of dollars on a five-year lease, and to me that's a good investment. 

Your franchisor should be able to provide you with a Proper Use Statement. In addition most franchisors will give you assistance and help in reviewing your lease. But remember this when it comes to dealing with Landlords and leases, "The devil is in the details", and only an experienced lease attorney can catch all those details.

 

We Can Help You Find Business SUCCESS!

francomparesmfawardShear Madness Franchising franchises our award-winning Shear Madness Haircuts for Kids salons  (FranCompare™ Best in Child Hair Care 2018). 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!

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, franchise success, 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

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

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Topics: franchise opportunity, how to buy into a franchise, employee, employee loyalty, business growth, franchising, franchise growth, business success, kids hair salon, multiunit franchise, best kids hair salon, building relationships, business, kidshaircuts, franchise investment, profitability

When To Move On, or NOT With A Franchise

Posted by Briana Hall on Tue, Nov 5, 2019 @ 11:11 AM

Saying YES to the franchise. It takes a lot to say yes a franchise, and we don't blame you. It's a huge decision that takes so much time and careful consideration. But how do you know that it is time to say YES?! We have some tips on when you know you have found the franchise for you!

Say-YES-to-the-Franchise

Someone who was looking for a franchise asked the question that everyone eventually comes to recently asked me. When do I move forward? First of all I congratulated them for getting to this point! Franchise ownership is a great way to build wealth and gain financial independence. I answered them by giving them some reasons to NOT move forward with a franchise, here are some of those reasons. 

Questionable Profitability - Did you know that the FTC does not monitor or audit the Financial Performance Representation (FPR) of a franchise? If the numbers just don't add up or the Franchisor can't give you a satisfactory answer about the numbers in the Item 19 then you should probably look elsewhere. To complicate this issue more, many franchisors don't even provide numbers in their Item 19. Can you imagine buying an existing business from someone and them not providing you numbers? 

High Start Up Cost - If the cost to start up a franchise is really high compared to what you can earn on the bottom line that would be another red flag. This is most commonly referred to in franchising as the Asset to Income ratio or ASI. I have seen franchises that can make $100,000 with an investment of $50,000 and franchises that cost a million dollars to build out that only make $50,000. You do the math. 

Unfair Termination - I was recently reading an FDD and if the franchisee did not hit certain sales numbers after three years of operation the franchisor had the right to take over the location. You see these unfair termination clauses sometimes and the franchises that have them should be avoided! 

Inflated Prices on Supplies - I recently visited with a franchisee next to one of my Shear Madness Haircuts for Kids salons; he had invested in one of the most popular fitness franchises out there today. When I asked him how it was going he said, " Man, they are charging me a fee for everything I order from them!"  Most franchises provide you there own proprietary supplies. This can be a good thing and one of the reasons that you bought a franchise. You get to use there Trademarked items, proprietary systems and branding. Where the issue arises is this can be a major profit center for the franchisor and some franchisors markup these items to a point where it can dig into the franchisees margins. Make sure you understand what you have to order from the franchisor. It should be defined in the Franchise Disclosure Document (FDD). 

Moving forward with your franchise of choice should be an exciting time for you and your family. One of the things that will make it all the more exciting is knowing that you have done your due diligence and are comfortable with how your franchisor runs the franchise system. Making sure you have a handle on these four items is a good place to start. 

 

Make a Positive Difference TODAY!

francomparesmfawardShear Madness Franchising franchises our award-winning Shear Madness Haircuts for Kids salons  (FranCompare™ Best in Child Hair Care 2018). 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!

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, franchise success, 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

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

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Topics: franchise opportunity, how to buy into a franchise, employee, employee loyalty, business growth, franchising, franchise growth, business success, kids hair salon, multiunit franchise, best kids hair salon, building relationships, business, kidshaircuts, franchise investment, profitability

Franchise Revenue Was Not The Issue, This Was...

Posted by Briana Hall on Fri, Nov 1, 2019 @ 14:11 PM

Research. Research. Research. Doing research before you invest is so important. So know how much it is going to cost to pay your employees and hold retail in your store. Make sure you are trained in both so you can be as successful as possible.

Franchise-issue

Franchise candidates spend a great deal of time studying revenues of various franchises. Yes, average revenue is an important number when researching franchises, but that only tells one side of the story. 
 
Expenses are the cost incurred in the operation of a business and have a HUGE impact on the profitability  of a franchise.  The fact that you have a royalty payment and payments into the marketing fund makes studying the expenses even more important! Make sure you understand the following two expenses, especially if you are looking at a service or retail business.
 
- Labor Cost: This is what you pay your employees and it should be calculated as a percentage of your revenue. I think of labor cost kind of like that RPM meter in your car. If the franchisor can't explain and train you to control this cost when you are redlining, then you will probably crash and burn. Make sure you understand what the industry average is and ask existing  franchisees what THEIR labor cost percentage is.
 
- Cost of Goods Sold: Selling retail and products can be a big boost to your bottom line, or a big drag. Your franchisor being able to train you on terms like retail turns, stock to sale ratio and spoilage are important components on your cost of good sold.
 
While many franchises provide cost information, not all do. Lowering expenses can give you a big boost in profitability - and a big boost to your confidence that you picked the right franchise! 
 

Your Future is a Dream Come True!

francomparesmfawardShear Madness Franchising franchises our award-winning Shear Madness Haircuts for Kids salons  (FranCompare™ Best in Child Hair Care 2018). 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!

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, franchise success, 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

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

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Topics: franchise opportunity, how to buy into a franchise, employee, employee loyalty, business growth, franchising, franchise growth, business success, kids hair salon, multiunit franchise, best kids hair salon, building relationships, business, kidshaircuts, franchise investment, profitability

Before You Buy a Franchise, Make Sure You Check These 5 Boxes

Posted by Briana Hall on Mon, Aug 26, 2019 @ 12:08 PM

There is so much that goes into finding the right franchise for you. After all, it is going to be your baby and you want it to succeed. Still, there are a few things you need to consider heavily when looking into a franchise.

Before-You-buy-a-Franchise

You have done your research and decided that buying into a franchise system is the right course of action for you and your family. Franchising is a proven business model that offers the chance to be in business for yourself - but not by yourself! But before you sign on the dotted line, let me offer you a final check list of things that may make or break your franchise:
 
* Strong Demographics - It sounds almost elementary, but make sure there are enough customers in your protected territory. Depending on what franchise system it is that you own, it takes a lot of customers to make a profitable location. 
 
* Recurring Revenue - Don't try and reinvent the wheel, or be talked into something that is not proven. Look at the top franchises over a long period of time. They almost all have one thing in common: customers that come back again and again. Franchises that have a high Customer Long Term Value (also referred to as CLV) have sustainable business models. 
 
* Competition -  Make sure that you are bringing a new and exciting franchise business into your market. Creating the pre-opening buzz will get you off to a strong start. If there are already lots of businesses doing what you are doing in your market, then you're banking on the fact that your franchise differentiates itself enough to steal loyal customers from those other businesses. And that may be harder then you think! 
 
  • High ASI Ratio - Simply put, you want to own a franchise with a high Average Sales to Investment Ratio. The higher this ratio, the higher the return on sales. Look for a ratio of at least 2 to 1. So if Your build out cost is $200K, then this would be  $400K in revenue.  
 
  • * High ROI - You will want a good return on investment.  If you can determine what the average Net Income is then divide that by the your investment ($50,000 Net Income/ $200,000 Cost) - this gives you a return on investment (ROI) - if this is really high, it may be that although you may have a low ASI ration - the investment is still worth it.  And Vice Verso - if the ASI is high - looking at the ROI is important as this could still be low even with a high ASI.  Normally higher return on investment means that you will need to be more involved with your business.  So when evaluating your ROI make sure and take into consideration the amount of work you the owner will have to do.
 
If you have a passion  for business, franchising is an exciting way to create income and accumulate wealth for yourself and your family.  Additionally, if your franchise has these four business metrics you should be well on your way to owning a successful business! 
 

Your Future is Bright!

francomparesmfawardShear Madness Franchising franchises our award-winning Shear Madness Haircuts for Kids salons  (FranCompare™ Best in Child Hair Care 2018). 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!

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, franchise success, 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

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

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Topics: franchise opportunity, how to buy into a franchise, employee, employee loyalty, business growth, franchising, franchise growth, business success, kids hair salon, multiunit franchise, best kids hair salon, building relationships, business, kidshaircuts, franchise investment, profitability