I’ve been traveling lately, which is always a great time to catch up on my reading list, especially professional magazines and online publications that focus on the franchise industry. Here are a few articles about all things franchising, plus some indispensable advice about coffee and Google (franchising + coffee + the internet = My Life).
Owning just one franchise location has been considered the standard starting point for new franchisees, and many franchisees choose to operate only one for the entirety of their franchise career. More and more, however, franchisors encourage franchisees to invest in multiple units in order to grow their brand presence in a particular market, and because of the cost efficiencies that come with one franchisee operating several locations. (Where does Great Clips stand? It all depends on the franchisee’s situation. Most of our franchisees are multi-unit walk-in salon owners. Drop me a line and I can explain more.)
And the three reasons are: 1. Goodwill—It’s so much easier to introduce your service to new markets and customers when you have a positive brand reputation. 2. Cost—Investing in a franchise can be less expensive than starting your own business. And, you’ll get a lot of resources to help you launch and run your business. 3. Staying power—The future value of your business can be dependent on the integrity and longevity of the franchisor. Pick wisely!
I like this article because it reinforces the basics of what I tell every prospective franchisee: If you want to be successful, focus on using the resources the franchisor provides; hire the right people; connect with your community; and, have fun.
Anything involving coffee needs no further explanation.
(Warning! If you look at this list in the middle of a workday, your productivity may suffer for the rest of the day. Just saying.) Have you ever wanted to know what bands have done covers of your favorite song? Of course you have! (See #22 on the list.) Maybe you decide to look up “I’m a Believer,” originally recorded by The Monkees and later popularized by the movie “Shrek,” only to discover that this song has been performed by 10 other artists, including Weezer, The Four Tops, and Neil Diamond (who wrote the song). And, then—not that I did this, of course—you may have to listen to every one of them.
Actually, many of the tips on this list are quite helpful for work-related searches. Check out #10, #30, and #32. All in the name of productivity!
Want to know more about Great Clips? Drop me a line so we can talk about your interest in franchising—and maybe covers of your favorite song. (Check out another rabbit hole: #39—sorry, I couldn’t help myself.)