If you’re thinking of leaving corporate America and starting your own business, you’re in good company. According to the Small Business Administration (SBA), there are 32.5 million small businesses in the U.S. And franchises account for about 10% of all businesses in the country. So, if you’re thinking about buying a franchise, you may be wondering how to find the right one for you. Learn more about franchise strategy, what to look for in a franchisor, and how to make sure you choose a smart investment.
What to Look For in a Franchise
Finding the right franchise takes quite a bit of research. And while you should thoroughly look into every opportunity that piques your interest, there are a few things you need to look at closely when determining your next investment.
- Study the FDD: Every franchise is required to have a Franchise Disclosure Document, and you’ll want to thoroughly review all of the items listed. It’s also recommended to have a franchise lawyer review the document as well. This is one of the most important steps in the franchise discovery process because it gives you more clarity around the brand, health of the system, and what the franchisor expects from you (and what you can expect from them).
- National brand recognition: Does the franchise have a recognizable name? Do people seem to know who they are? A big benefit of investing in a franchise is taking advantage of owning part of an established brand. A franchise with a wide presence gives you a leg up over those who choose to start a business independently.
- Affordable startup costs: This cannot be stressed enough – don’t go broke trying to start a business. Set an investment budget and stick to it. There are plenty of lower-cost franchise opportunities for investors just starting their portfolios.
- Happy franchisees: Talking to existing franchisees within the system you’re interested in joining is paramount. If the franchisees you speak with all have glowing reviews of the franchisor and their experience working with them, it’s a good sign the brand really supports their investors.
Franchising Keys to Success
Joining a franchise doesn’t automatically ensure your business’ success. To be successful within a franchise system, you’ll need to commit to doing a few things once you sign your agreement.
- Follow the system: If you consider yourself a bit of a free spirit, franchising may not be the right fit for you. Those who join franchises are required to follow the processes set forth by the franchisor. The franchise has spent years refining its business model and knows what works best. It’s important you stick to the plan.
- Ask for help: When you join a franchise, you get the added benefit of a whole support system – be sure to use it. Problem with a customer? Software issue? Reach out to corporate. They have a team dedicated to helping you.
- Put in the work: Again, joining a franchise does not equal certain success. You need to show up for your business every day. Even with a semi-absentee franchise, you’ll need to be actively involved in your business as it ramps up. When you own a business, what you get out of it directly correlates with what you put into it.
- Be present with your team and customers: Leadership is important when managing a dedicated team. When you show up for your team and your customers every day, your team is more likely to work harder for you. When you make it clear that you care about your business, team, and customers, you win employee and client loyalty.
- Be excited about your business: Don’t invest in a business that doesn’t seem interesting to you. You should be looking forward to going to work every day. If you’re not enthusiastic about your franchise, it’ll be a lot harder to consistently put in the effort necessary to succeed.
Aussie Pet Mobile: A Winning Mobile Franchise Strategy
Aussie Pet Mobile is a trusted dog grooming franchise that provides entrepreneurs a great business opportunity. Ranked the No. 1 Pet Grooming Franchise on the Entrepreneur Franchise 500 list, our franchise owners are able to provide exceptional grooming services, right in their clients’ driveways. Due to our commitment to customer convenience, our Aussie Pet Mobile franchisees see strong customer retention.
Our franchise is a leader in the mobile pet grooming space and provides franchisees with a scalable business model – our investors start with one van and are able to build out from there with a protected territory. Our unique, pet-friendly, and eco-friendly storefront is affordable for first-time or experienced investors. The initial investment to start an Aussie Pet Mobile franchise ranges from $179,980-$198,705. However, our franchise does offer up to $32,000 of in-house financing, contact us today to ask for details and for more about our franchise opportunity.