When you are getting ready to open your new business finding the right location is your first major decision, and one that you need to get right. You probably have heard the saying location, location, location, that may be even more true when finding a location for your new business. We are going to focus on retail and service businesses and three things you need to do to find your ideal location
1) Define What Your Looking For Before You Drive Around - What are your key ingredients? What are your must haves? These most likely will include things like visibility, foot traffic, Drive-by, parking. But what about synergistic businesses, are they close by? Another factor may be things like Density and easy in and out. So before you go out looking clearly define what your looking for, or more importantly what your customers are looking for.
2) Our There Enough Customers In Your Market - You know I am amazed at how many people buy a business and haven't counted the number of potential customers in there area. Use the demographic research available and get a good idea and how many potential customers there are for you to be successful.
3) Growing vs Graying Areas - What is the age demographics of your customers and where are they congregating? In real estate terms this is called growing vs graying areas. You know a funny thing happens in most markets. Young people like to hang out with young people, older people like to hang out with there age group, ever heard of a young couple moving into a retirement community?! Find out where your age demographics are congregating, and focus your search there.
At Shear Madness Haircuts for Kids we do lots of that demographic research for you BEFORE we come for site selection. Because finding the right location is the first step on your road to building a successful business. If you would like to explore our opportunity then just fill in the link below and someone from our executive team will give you a call to discuss your next steps!
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franchise,
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I recently attended a webinar with one of the largest franchising financing lenders in the United States. I would like to explain all the graphs that they showed us but the bottom line was this: all the signs point to the next recession hitting sometime in the next 24 months.
- Credit Card debt and margin buying of stocks are back to record levels.
- The small business optimism indicator is at record levels (this is a contrarian indicator).
- Retail rents are at extreme levels causing over building, even though demand is decreasing for retail space!
But what I was most interested in was a chart of the top 15 franchises according to the SBA. I can't tell you those names, but what I can tell you is some commonalities they had.
- Four of the top 15 were child related.
- Most all were recession resistant.
At Shear Madness Haircuts for Kids we feel like we combine both of these traits. As most parents look at a haircut as a necessity and not an option, and a haircut will never be replaced on the internet! Parents will always spend money on their children. They will cut out a lot of luxuries and services for themselves, but never a service that makes their children look better and feel better about themselves!
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!
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 hair salon business 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
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I often
get contacted by people who want to buy a franchise or business to be their own boss, take control of their destiny and live the American dream! Well, that's all well and good. But I'd like to take a moment and add a small bit of wisdom from one who has been there and has interacted with lots of people who who have also been there.
It takes time. Three years to be precise.
While some can do it a little faster and some might do it a little slower - on average it's going to take you about three years. If you were to pin me down, or get upset with me, or even tell me I'm crazy, I wouldn't mind. As a matter of fact, I really can't explain it other than to to tell you that after countless observations, research, and doing it myself, three years is about what it takes to create a business that gains enough traction for the owner to rightfully claim their business is on it's way to being successful.
So the bad news here is this: If you're going to quit your job, make sure that you have lots - and need I say it again - LOTS of working capital. Because you may have a long runway. The other option is to keep your job and run your business on the side. This option will test your business skill, your ability to manage and find the right people, and trust them.
The good news here is: owning your own franchise or business can allow you to be your own boss, allow you to control your own destiny and allow you to live the American dream.
But like I said, it's going to take you about three years to get there.
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!
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
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It's a mystery! As a business owner, you just can't figure it out. You have a great location in a high traffic area, and you have a great store with a product or service that you KNOW the people of your community need or would love. However, you just aren't getting people to come through your door. What do you do?
I was thinking about this the other night when I was out with my family. We have an extremely busy intersection near our home, along with a nice shopping area where hundreds (if not thousands) of potential customers drive by every day. As we were looking for a little time to kill, we decided spur-of-the-moment to visit one of the stores that we had passed by every day for over a year, but had never visited before. After we had spent a little time there, we were all impressed with what the store had to offer - and wondered why we had never been enticed into shopping there before. After my spouse and I talked about it for a while (as we always find marketing and why people do the things they do to be of interest), I came up with the following...
1. We didn't recognize the brand: Even though the store was one we passed by every day, we didn't recognize the sign of the store and unfortunately had nothing to pull us into the store. Take for instance "Hobby Lobby" or "Michaels". The logo is instantly recognizable, and when you see the sign - you more than likely know what's inside. True, these are national brands that have a huge amount of marketing dollars behind them in order to build brand recognition But smaller brands who may not have those expansive resources can still work on getting the brand out to the immediate community through flyers, advertising in local papers, advertising at local sporting events, parades, guerrilla marketing efforts, etc.
2. The exterior of the store was bland: Don't get me wrong, the exterior of this particular store is very nice. But there was nothing to actually communicate to us what was inside the store. No posters or window displays to attract our attention and help us understand what was actually waiting inside. Some local stores that we didn't know anything about prior to visiting, actually were able to get us to walk through the door through a cool window display, a banner on the outside advertising what's inside, or some kind of poster in the window showing more about what to expect inside the store.
3. Awareness of Service or Product Costs: Sometimes as a customer, we've decided not to visit a store because we don't really know how much the services or products may cost. It isn't until we look up a menu (for a restaurant) or find a sale advertisement in a local newspaper that we decide to pay the store a visit. For example, I love coffee shops. However, it wasn't until my local "Dunkin Donuts" sent me a flyer in the mail advertising their drinks that I was suddenly made aware that they were even in the community. And seeing that their drinks were comparable to what I was already spending, I was enticed to give them a try. After their effective marketing and great service, I now go there frequently.
Do you have a store that needs more customers? Take a look at the exterior from a different viewpoint - use some of the tips above to communicate!
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! We provide poster designs (to help communicate who we are), do photo shoots so our franchisees always have content to communicate with their potential customers! We know that most 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
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Guerrilla marketing,
small business success,
owning your own business,
advertising your business
There has possibly never been a better time to start a franchise business, ever. Not only is the franchising model proven, but with a pro-business administration in Washington, the regulatory, and tax environment, along with consumer spending power has never been better! Please don't take my comments as a political endorsement of any politician or political party. I simply think that the facts stand on their own.
For example:
- 4.1% unemployment rate is at historic lows
- Consumer sentiment on the economy is high and improving
- The stock market is at record highs
This begs the question, will the good times continue? And if so, what franchises should I be looking at? A good place to start is by asking yourself what type of business you see yourself operating. You'll also need to give an honest personal assessment in regards to the type of hours you'd like to operate, what you enjoy doing and what you're truly passionate about. Then you will want to look at franchises with strong brand recognition, a good track record of performance and a good reputation between past and present franchisees.
Do your homework, make sure your significant other is on board, and get your financing in place. Then go for it! Because the way I see it, there's never been a better time to start a franchise, ever!
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!
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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When I was a Stock Broker, we would always start one place when we were looking for companies to invest in - and that was at the top! Of course we had certain qualifications that we looked for in management teams, but we always, without fail, looked at their level of education.
Now this isn't meant to make anybody feel bad. We all know or have heard stories of men and women without so much as a high school education making millions through hard work and perseverance. But here's the thing: I challenge you to find any Fortune 500 company in America where the CEO doesn't have a Master's Degree in Business Administration (or MBA). Why is that? Because in order to get an MBA in this Country, you have to prove that you have the ability, discipline and desire to learn at a higher level. People with MBAs in this country earn about 25 to 30% more then undergrads, because of all the reasons mentioned above.
So the point is this: we as Stock Brokers always wanted to invest our money with intelligent people who had shown they not only had the credentials - but the drive to succeed. Shouldn't the same apply to franchising? Wouldn't you prefer to make a wise investment into a franchise run by really smart people?
Some other traits of great franchise management teams are:
- The are focused and plan strategically.
- They have solid knowledge of not only their concept, but the industry that they're in.
- They are goal and result oriented.
- They are bound by a mission statement.
- They are competitive and excellent communicators.
So that's why I can confidently recommend that when choosing a franchise, you might really benefit from doing what I used to do when I was an stock broker...and that's simply starting at the top!
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, our staff (which has years of business experience and a robust resume that includes an MBA) can 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 currently looking for franchise prospects throughout the United States - and especially Tulsa, Oklahoma City, Omaha, Lincoln, Denver and St.Louis! 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 franchise investments, great marketing strategies, resources for small businesses, the franchise selection process, 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
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Shear Madness Haircuts for kids,
how to begin a business,
reinvent your career,
Business Tips,
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small business how-tos,
business growth,
franchising,
franchise research,
evaluating a franchise,
business success,
business ownership,
sales,
franchise management team,
smart investments
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 their 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!
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!
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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sales executives,
sales,
relationships,
building relationships
In previous blogs we have discussed the importance of being able to manage people and create a great team in your franchise. This doesn't happen over night, and depending on the industry you're in it may take months or even years. The key to all this may be your ability to identify the one or two employees who have the ability to lead. Identifying individuals who are the ultimate team players may very well be the key to your business success. A recent Harvard business report calls these individuals "charismatic connectors". These employees will become your Managers and free up your time so that you can work ON your business and not IN your business. They will help save you hundreds of hours of time, and be your wall against you working in your business handling problems. By letting them handle the problems, this helps free you up to work on growing your business.
These ultimate team players have the following characteristics:
- They have the ability to engage any type of personality! Ultimate team players communicate with everyone equally.
- They don't show favoritism! Every team member has something to offer and these ultimate team players have the ability to bring that out.
- Their enthusiasm is contagious!
- They show tough love. No one respects anyone that they can run over. These ultimate team players have the ability to put their foot down when necessary, and they can do it in such a way that the others on the team don't show resentment. Instead, they show respect.
- They lead by example, often working long hours and going the extra mile because they like what they do.
Team building is essential in any organization, and building a great team in your franchise business may well depend on identifying those one or tw0 people who can lead others and your business to new heights.
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 franchise investments, 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
Topics:
franchise buyers,
buying a franchise,
Small Business Franchise Information,
Business Tips,
successful franchisees,
small business how-tos,
growing a small business,
business growth,
franchising,
franchisee support,
evaluating a franchise,
business skills,
franchise success,
business ownership
In his book START WITH WHY, Simon Sinek tells the story of a group of American car executives who went to see a Japanese assembly line. At the end of the line the doors were put on the hinges just like in America. However, something was missing. In America the workers at the end of the line tapped the door with a rubber mallet to make sure the doors lined up properly. In Japan that job did not seem to exist. Confused, the American auto executives asked at what point they made sure the doors fit perfectly. The Japanese guide looked at them and smiled sheepishly, "we make sure it fits when we design it". You see, in the Japanese auto plant they didn't examine the problem and accumulate data to figure out the best solution - they engineered the outcome they wanted from the beginning. If they didn't achieve the desired outcome, they understood it was because of a decision they made at the start of the process.
My suggestion would be to apply the same rules before you buy into a franchise. Buying a franchise should be a process where you examine all the possible outcomes. Some important questions you might want to ask yourself in the exploration process BEFORE you buy might be are...
- How many hours will I need to work and how will that change my lifestyle?
- How much money can I reasonably expect to make for the money I invest?
- Can I manage people and can I find enough workers for my franchise?
- Is there a demand for the service in my area?
- Does the franchise I am considering have a proven track record of success?
- Do they have the training and support that I need, when I need it?
- If my franchise fails, will I be able to recover and still live comfortably?
Making sure that you understand what you're getting into and what the desired outcome might look like will really go a long way toward giving you the comfort level you need to make a decision. Otherwise you may end up feeling like you should hit yourself over the head with a rubber mallet!
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!
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
Would you like to sign up for our Monthly newsletter? If so, click HERE!
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how to buy into a franchise,
Small Business Franchise Information,
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successful franchisees,
growing a small business,
franchising,
franchisee support,
franchise research,
evaluating a franchise,
franchise ownership,
business success,
why buy a franchise,
franchise success,
business ownership
I recently met with a top-notch franchise consultant. He had developed a franchise system that he had built out and sold for a handy profit, hence his new business of being a "Franchise Consultant". Everyone wanted to know what his secret to success was. After two days of meetings with Bob (his name for the sake of this article) he finally told me the secret. As he was describing various franchisees, he told me about his best franchisee ever. "Our best franchisees did about 2.5 to 3 million per year, but we had one guy in Milwaukee who did almost 5 million!"
What?! That's amazing! Of course, I wondered how in the world this guy in Milwaukee did it. I asked Bob about it, but it wasn't until 2 days later that he finally gave me the secret to this Milwaukee franchisees success. Bob simply said, "He worked harder then everyone else."
Now don't get me wrong, there are a number of things that can account for franchise success. But what gets missed is that the individual in Milwaukee didn't just work harder then other franchisees - he made personal sacrifices that others weren't willing to make. Being the best requires more than hard work, it requires doing things that others aren't willing to do. In the book "Outliers", Malcolm Gladwell studies the great prodigies and people of genius throughout history. From Mozart to Bill Gates they all had one thing in common. They all practiced / studied over 10,000 hours. Were they bright and talented? Yes! But did they study and practice longer then everyone else? Yes!
The real folly is thinking that if you buy into a franchise system, you'll be guaranteed success. However, while a franchise system will certainly provide you with a big advantage over going at it on your own, the simple truth is that you must still be willing to make personal sacrifices to make your franchise successful!
Shear Madness Franchising franchises Shear Madness Haircuts for Kids salons. We have worked with franchisees in providing excellent support and service (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. Having a knowledgable support base who can help guide and advise you through your business journey 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
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franchise buyers,
buying a franchise,
Small Business Franchise Information,
how to franchise,
Business Tips,
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nourishing success,
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franchise growth,
franchise, franchise success, franchising,
franchise ownership,
franchise success
