Many people who are interested in opening their own business and becoming their own boss often wonder what the advantages might be of investing in a franchise opportunity. Following are ten reasons why buying a franchise may translate into the long-term success of your investment.
Robust Industry: Many franchise systems offer services that are in high demand. The children’s segment of the recession resistant Hair Salon Industry is one such example, It's currently worth around $19 billion. To date, there are around 45 million kids in the Shear Madness age group – and this is expected to grow by about 7 million by the year 2020!
Marketing Support: Ask anyone who runs a business, and they’ll tell you that marketing not only takes a lot of time – but can cost a lot of money too. However, an effective marketing plan is critical in letting the community know about what your business does, where it’s located, and so much more. For example, Shear Madness Haircuts for Kids understands this, and offers great resources and strategies to help businesses attract new customers.
A Record of Success: Franchisors will have a proven record of success. Through years of experience marketing to their customers, they usually understand what works - and what doesn't. Through becoming a franchisee, you automatically gain this valuable business advantage.
The Brand: A franchise brand is a powerful tool. As an example, the Shear Madness Brand is one that is instantly recognizable as being fun. Those who own a franchise with Shear Madness are automatically connected to the tens of thousands of parents and children who love who we are and what we do. This translates into many repeat customers who share with friends and family about their great Shear Madness experience!
Buying Power: Franchisors usually have experience in knowing what products sell well and what don’t. Additionally, they have the knowledge on how to negotiate for the best prices on everything needed for the successful operation of the business. Many times the sheer number of franchise locations allows the franchise to negotiate for better pricing.
Store Location: Where to locate is an important question any business owner should consider. Franchisors help study your community in order to help you find the best possible location for success. They know the numbers and other criteria that allow for the possibility of a successful franchised business.
Networking: Franchising can be a little like a group of trusted friends, and should be a great environment of sharing and building each other up. Franchise owners who work with other franchisees and communicate what works and what doesn’t will have a competitive advantage over those who don’t!
Training Support: Great franchise systems have worked hard to develop many training resources to help you achieve success. For example, with Shear Madness Haircuts for Kids, we provide our franchisees with in-store training with stylists, and encourage opportunities to network with other franchise owners. Because of this, you’ll have access to a wealth of business knowledge at your fingertips.
Building your Store: One of the benefits in buying a franchise is the franchisor's expertise in designing the layout of a prospective business, working with the right contractors, and knowing how much furniture and equipment will be needed. Again, this helps a business owner save time, money, and keeps the headaches to a minimum!
Minimizing Risk: Ultimately, as a potential owner of a franchise, the success of your store will be up to you. But through being a part of a franchise system like Shear Madness Haircuts for Kids, the risk of starting a new business is significantly reduced. Sure, there will still be challenges that come your way, but as a franchisee, you’ll have greater confidence and know-how in how to succeed.
When an individual buys into a franchising opportunity with Shear Madness Haircuts for Kids, they won’t be going at it alone. Our team excels at being a partner who wants our franchise owners to succeed! Learn more tips on how to achieve success from our team of business experts by downloading our free resource below.