Employee Retention Strategies for the Good Salon Employee

Written by Jim Otto

Are you exasperated with stylists who show up late, demand more pay, don't take a lot of pride in their chosen field of work, complain about not getting enough hours, and neglect to educate their clients on products? The list could go on and on. But one thing is true. The perfect employee or stylist doesn't grow on trees, nor do they just come walking through the door (except maybe once or twice in your career…if you’re lucky). So, it’s up to you to mold the staff you have into the “perfect employees”.

Read More

New! 20 FREE Resources for Businesses

Written by Jim Otto

Starting your own business can be a serious and daunting task. With so many things to consider (and pay for) it's always a significant bonus to be able to find free resources that aren't just smoke and mirrors - but are truly helpful. Following is our list of 20 free resources for business that you might find beneficial as you work to grow your business. We hope they help you like they have us! (note: This post is an update to our popular "20 Free resources" post that we shared in January of 2012)

Read More

10 Questions to ask before Looking at Franchises for Sale

Written by Jim Otto

If you’re thinking about joining the ranks of successful franchise ownership you might look before you leap! We at Shear Madness Franchising (franchisor of Shear Madness Haircuts for Kids) have put together a list of ten things that might help you decide if you’re ready to take that next step into this rewarding – yet challenging - opportunity.

1. Are you financially sound? Take a look at your financial resources, and make sure you’ll have enough to not only invest in starting up your business – but run it for 3 to 6 months.  And then consider that your income will be very small, but should grow slowly for the next 2 to 3 years while your business is becoming established.

Read More

Wise Working Capital Management Calculation and Planning

Written by Jim Otto

Many business's have failed due to lack of sufficient working capital. So how much is enough and what formula do you use to figure it out? I would recommend using a bottom up approach, or put another way, what could go wrong that you may not have anticipated that could cause your new business to need more working capital then you thought.

Read More

7 Habits of the Most Successful Franchisee in the Franchise System

Written by Jim Otto

In Franchise systems there is a rule of thumb.  Twenty percent of your franchisees will be great, sixty percent will be average, and twenty percent will be underperforming locations.  Then within that top twenty percent there will be a few superstars.

Read More