The Quickest Way to Start YOUR Successful Business!

Posted by Jim Otto on Thu, Nov 15, 2018 @ 13:11 PM

rampuptimeOf all the reasons to choose a franchise versus going it alone, ramp-up time is one of the most import. I get called from time to time and the conversation typically goes something like this, "Hey, I found you guys online. I have a GREAT children's salon and I really think you guys might be interested in buying it!" I will tell you from experience the two phrases, "great business" and "I want to sell it" don't really go together. Typically when I am presented with the numbers, there's one thing that stands out: the business took a long time to ramp-up, which caused the business owner to burn through a lot of his working capital. In a well run franchise system your ramp-up time should be greatly accelerated for the following reasons:
 
* Build Out Assistance - If the franchise that you are looking at is "turn-key", then all of your furniture, fixtures, supplies and architectural plans are provided. This allows you to get open sooner! And when you get open sooner you start to produce revenue faster, which allows your working capital to last longer.
 
* Training -  Think about it, can you think of ANY job that doesn't take some training? Then why do potential business owners make the mistake of thinking they can open a business and run it on the fly without any knowledge of how it works? And one more thing...doesn't it make sense to drastically reduce your learning curve? If it does, then I would strongly consider a franchise vs going it alone. 
 
* Ongoing Support - As a business scales it needs to be able to handle more and more volume without harming the customer service or experience. Being able to call your Franchisor for guidance with questions  (like when to add additional staff and other important issues) when your business is growing is a big advantage of being part of a franchise system. 
 
* Marketing - Almost always when you research on some of the reasons that businesses fail, you'll probably discover that ineffective marketing comes up in the top 5. A well run franchise should be able to tell you the most effective ways to get your customers through the door and get people talking about your business. 
 
One of the biggest challenges that you will face in business is ramping it up quickly! When your business starts off strong and ramps up quickly, it will take a lot of the stress off of you as the owner and will allow you to scale the business. Because of the past experience and systems that are associated with a well run franchise, franchising offers a huge advantage over going it alone!

Our Experience, Your Success!

francomparesmfawardShear 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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Topics: franchising, kids hair salon, franchise success, franchise system, ramp up time

Franchising Your Retirement

Posted by Jim Otto on Thu, Oct 11, 2018 @ 13:10 PM

retirementMany of you may never have seen this before, but the Social Security Administration used to send you in the mail what your monthly Social Security benefit would be at retirement (this info can now be accessed online on their website). What always stuck out to me was a statement on the front page, " Social security should not be your only source of retirement income, you will need to have other sources of income at retirement".  
 
I was recently asked the following question  on a social media forum that I was participating in: "Is a franchise a good way to create additional retirement income?" My answer is both "yes" and "no". 
  • Yes - If you do your homework and you understand the time commitment that it's going to take to own and manage a business. 
  • No - If you are looking for a totally passive income opportunity like a rental property. Most franchises will require you to have business skills and the ability to manage people.
 
  • Yes - Because most franchise's earn between 10 and 15%, well above current rates that banks and bonds are paying.
  • No - If you have a low tolerance for risk. There is no guarantee that if you buy a franchise you will be successful.  
 
Creating retirement income comes down to diversifying your portfolio into as many income producing  assets that you can find. Because of the return and the limited options in this low yield environment, a Franchise may be the perfect  option for you.    

Make a Positive Difference Today!

francomparesmfawardShear 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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Topics: franchising, business success, franchise success, smart investments, franchise system, retirement

Why Your Franchise Isn't Performing Like You Thought It Would

Posted by Jim Otto on Mon, Aug 13, 2018 @ 12:08 PM

whyI was recently on a website where franchisees can go to complain about there franchisors. The common  theme amongst the complaints was that the franchisor made a lot of promises that they didn't keep, the numbers weren't adding up like the franchisor said they would and they weren't being trained properly.
 
Of course, it's important to understand that when you buy a franchise, you'll need to wear  a lot of hats! Not only are you the head of operations, but you will need to recruit the best employees and constantly train them, give customers great service, track the numbers and watch your expenses and keep your finger on the pulse of your business. 
 
There are lots of reasons that franchises fail. Running a business is not for the faint of heart. But if you bought into a franchise, you bought into a system or process that has succeeded at some level. So my suggestion is if your franchise is not performing like you want it to, make sure that you are following the system! Franchisees often get their business up and running and then begin to change or modify existing services, advertising, products and even the quality and consistency of the customer service that they are delivering. This not only can lead to poor franchise performance, but can unfortunately be a violation of the franchise agreement as well. Yikes! So long story short, you'll definitely want to be sure to follow the franchise system you invested in, as it's a proven model for success!
 

The Shear Madness Franchise Advantage!

francomparesmfaward

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 challengean 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

Exploring a Children's Salon Franchise

Topics: Shear Madness Haircuts for kids, successful franchisees, growing a small business, business growth, franchising, haircare franchise, franchise, franchise success, franchising, franchise ownership, business success, franchise success, business ownership, best kids hair salon, small business success, owning your own business, franchise agreement, franchise system

Why You Picked the Wrong Franchise

Posted by Jim Otto on Mon, Aug 13, 2018 @ 12:08 PM

wrongfranchiseI was floored recently when I talked to a friend of mine about the franchise she bought. You see this wasn't what  I would call your "typical" franchisee. Jane (as I will call her for the sake of this blog) has been in the franchise consulting business for 25 years. She has trained and taught both franchisees and franchisors about what to look for in a franchise, how to run a successful franchise business and what makes franchisees successful. 

After years of consulting and teaching, Jane had decided about a year ago to buy into a franchise. Unfortunately, it failed after less than a year. With all of her expertise, all of her knowledge and all of her coaching, she forgot to ask herself one of the most important questions, "Can I see myself in this business?" People tend to look at franchises by how much money they can make and the cost of the franchise without ever stopping to look at what their day-to-day lives will look like. 
 
Most of us are creatures of habit. We pretty much follow the same daily routines like planning vacations in advance, or trying to schedule our lives the best we can.  As humans we get into our "comfort zones". The problem is that when you become a franchise owner, your comfort zone becomes disrupted. That's what happened to Jane. She told me she was surprised at how hard it was to manage the people and how much time she spent working on her business. 
 
When Jane went from consulting to ownership, she experienced "where the rubber meets the road" if you will. Her comfort zone was disrupted, and the very things she had taught for 25 years  she could't apply to herself. Now, try to picture what your day will look like in the franchise that you are considering. Call existing franchisees, as they are your best source and can give you an accurate assessment. And don't forget to ask yourself, "can I see myself in this business?" 
 

The Shear Madness Franchise Advantage!

francomparesmfaward

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 challengean 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

Exploring a Children's Salon Franchise

Topics: franchise opportunity, successful franchisees, small business how-tos, business growth, franchise research, franchise growth, evaluating a franchise, franchise, franchise success, franchising, franchise ownership, business success, business skills, franchise success, small business success, owning your own business, franchise system