What Does a Great Franchise Opportunity Look Like?
So you want to purchase a franchise, but you’re not sure where to begin. Don’t worry, you’re not alone. There are millions of franchise opportunities out there for you to choose from, so we understand that it can certainly be overwhelming to select the perfect one for your business goals and personal needs. Fortunately, there are a few key items to consider that will help you weed out the good from the bad straight from the start.
Here’s how to be certain that the franchise opportunity you’re looking into is worth your while:
It offers high quality products and services.
Whether this is your first franchise endeavor, or your fiftieth, you should always be certain that the business offerings are ones you can stand behind. If you’re offering sub-par services, expect sub-par earnings. Fortunately for our franchisees, Camp Bow Wow’s pet day care, boarding and training services have earned us the title “Best in Category” in the Entrepreneur Franchise 500.
There should be an obvious need for these services.
Sure, the business might sound like a great idea, but is it one that can provide unique goods and services that people are actively searching for? For example, we know that 44% of American households have dogs, and that more than 60% of dog owners consider their pets to be members of the family. That, coupled with the fact that pet care services are currently a $60 billion industry, proves that Camp Bow Wow fills a real need for dog loving pet parents. Do your research and don’t be afraid to ask these types of questions before starting up your own franchise location.
There’s a well-established business plan.
We’re all in this together, and you should never feel any differently! There’s nothing worse than entering a brand new franchise endeavor with little-to-no guidance. Find out what marketing efforts corporate has in place to help start-up locations grow, and what you’ll be responsible for as the franchise owner. The best way fully understand a business and ensure there is a solid business plan in motion is by requesting an executive summary — ours happens to be free!
Franchisee relationships appear strong and prosperous.
We repeat, we’re all in this together! A franchisor that exhibits positive relationships with their franchisees is a very good sign of a fantastic franchise opportunity. Dig around for franchisee testimonials, blog spotlights, or mentions on social media pages. If possible, ask to connect with current franchise owners to ask your own questions and get their genuine perspective.
Do you love dogs as much as your love low-risk business opportunities with a high-growth industry? If so, you’ll want to learn more about how you can join the Camp Bow Wow Pack! Reach out at (870) 600-2713 for more information or request a free executive summary below.