Big shout out to Supercuts #franchising for providing us with all this amazing information.
Many of you know I am a small business owner. I started my own business almost two years ago from the ground up.
Starting a business from scratch was hard. I had no idea what I was doing and it is still a major struggle to get my brand out particularly in a super niche market (like mine).
I had looked at franchising but there was very little information I could find. I am so grateful Supercuts contacted me and I am able to share some great information with you.
You need passion, not experience.
I started with this tip because it is the biggest “what?! wow!” moment I have had learning about franchises. One of the biggest reasons why I stopped looking at franchises was because I had no idea what I would have enough expertise in to start my own business. Years of being a bank teller/outdoor educator/historical interpreter did not leave me feeling qualified to own a “big” business of a brand as large of Supercuts. Boy was I wrong. As a franchise owner you have the strength of a big business to help you. Supercuts provides the education their owners need to succeed. Don’t believe me? Check out the video below of a former real estate agent who is now a successful small business franchise owner.
When looking at becoming a franchise owner, take a good look at the company’s financial model. I know how easy it can be to be sucked into flashy pitches and fancy gadgets but if you are becoming a franchise owner, you want to make sure you are with a company which is in it for the long haul. With our current economic status being less than stellar, you want to look into products/services most people can afford and need. It is also okay to ask the company for its financial model. Supercuts brags about being ranked No. 5 in Entrepreneur magazine’s Franchise 500® in 2013. A strong business and financial model is what has given it such a strong accolade.
New isn’t always better.
I am one of those people who cannot upgrade their phone to the newest technology but when it comes to owning a small business new isn’t always better. In order to have a balanced budget you cannot always be upgrading to the newest technology. My husband works in construction and even in his business the newest, shiniest tool isn’t necessarily better than the tools we have at home that were my grandfather’s. On the flip side you do not want your product/service to become obsolete because of innovation. Hair care is also one of the few industries unlikely to be displaced by technological advances.
Do you want to know more about becoming a franchise owner? Supercuts has more great video and information here.