Why Do People Miss This When Looking For a Franchise?

Posted by Briana Hall on Wed, Aug 7, 2019 @ 15:08 PM

The moving parts of creating a successful business all stem from one important factor. While there are a lot of key components that go into creating a successful business, if you forget about this one, your structure is going to come crashing down.

What-are-you-missing

There are lots of moving parts to a franchise, including your franchisors opening assistance, training and ongoing support. All of the aforementioned are important to your success as a franchisee, and the best way to measure these are to talk to current franchisees. 

 
As important as all these factors are, many people looking to buy a franchise fail to look at what is arguably the most important component of all: the customer. More specifically, how many customers are there for your concept where you want to open? Or, how many times will they come back in a given year, and how long can you hold on to them? This is called customer long term value, or CLV, and it can be the difference between your success or failure. 
 
Think about this, would you rather own a business where your customer comes back twice a year, or 8 times a year? Will they come back for the next 2 years, or the next 8? Will you be able to create a loyal customer or one that only needs your service once or twice per year?
 
Customers are fickle! Make sure that you have lots of them in your trade area, and that the franchise you are looking at can hold on to them for a long time.
 

Building a better future TOGETHER!

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

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