5 Characteristics of a Leading Franchise
With all of the franchising possibilities out there, we understand that it can be overwhelming to make an investment decision as a potential business owner. However, it’s important to remember that these opportunities aren’t all just a dime-a-dozen. Knowing what to look for in a franchisor is the first step towards deciding to become a franchisee. That said — here are the top five characteristics you should be sniffing out in search of your next business endeavor:
- Cohesive, identifiable brand. Franchise systems come in a variety of sizes, but each individual store should be unified with a consistent brand identity. This means each franchise location should have uniform services, policies, and interior aesthetic. With nearly 140 Camps nationwide, we take special care to make sure each and every one follows our brand guidelines and that each employee feels like a true member of the Pack.
- Clear-cut training and support. In the words of Einstein, “[you] don’t need to know everything, [you] just need to know where to find it when [you] need it.” A good franchise opportunity makes finding answers and learning the ropes simple with a structured training plan in place. At Camp, we believe even old dogs can learn new tricks, which is why we continue to support and educate our franchisees for life.
- A business model that’s always innovating. In today’s economy, you’re not going to get anywhere by standing still. That’s why it’s important to find a franchise opportunity that’s progressive and always looking to innovate. Look for those revamping their headquarters, redesigning their franchise locations and turning to non-traditional means of marketing. These are the forward-thinking businesses you want to invest in!
- Established consumer-base and social presence. It’s always much easier to grow a business when you have a firm starting point. In our case, Camp Bow Wow is already recognized as the leading doggy day care and boarding facility in North America! One great way to determine how established a brand’s following is, is by checking out their social media presence. Are people talking about and interacting with their brand regularly? If so, you have yourself a winner!
- Recognizable growth and earning potential. According to the Financial Performance Representation in Camp Bow Wow’s 2017 Franchise Disclosure Document, the average Camp Bow Wow location generates almost $785,000 in revenue, and our top franchise owners generate more than $1.1 million.* We’d say that’s a pretty optimistic indicator for earning potential!
The $69.36 billion pet care industry is growing at a robust seven percent annually. Think you’re the right franchise owner for the job? If so, Camp Bow Wow wants you to join the Pack!
Fill out the form below or call us at (870) 600-2713 to receive your complimentary executive summary and learn more about our franchise opportunities.
*Figures represent averages for the 118 revenue- reporting franchises open and operating for more than 12 months during the 12-month period ending on December 31, 2016. Of all 118 franchises, 52 (44%) exceeded the average of $784,781. Of the 30 Franchises representing the top 25%, 10 (33%) exceeded the average of $1,149,950. Of the 30 Franchises representing the bottom 25%, 19 (63%) exceeded the average of $465,967. The financial performance representation contained in Item 19 of our 2017 Franchise Disclosure Document also includes: (1) selected expenses for expense-reporting franchises; and (2) system-wide gross revenue.