Opening a franchise is a great way to launch a business using a time-tested business model and branding materials. If you’re ready to put your entrepreneurial skills to use, you’re in the right place. Read on for our guide to meeting your 2024 goal to open a franchise.
Learn About Different Franchise Models
The word “franchise” refers to a specific type of business model that encompasses a wide range of industries. At one end of the spectrum, you have retail franchises. These franchises focus on product sales, typically in a brick-and-mortar shop. At the other end of the spectrum, you have business service franchises.
All Dogs Unleashed, a one-stop-shop for dog grooming, care, and training, falls into the business service category. Our franchisees and their employees have the opportunity to become canine care experts, working directly with dogs and their owners.
Think About Long-Term Success
What does your five-year plan look like? What do you hope to achieve in the next decade? If you can’t see yourself running a business in a particular industry for the long term, it may not be the best choice for you.
Setting yourself up for success as a franchisee involves evaluating your skills and interests. For example, not all ADU franchisees have a background in pet care, but many have worked in service and leadership positions and have a love for dogs. Your existing skills can make the transition smoother, while your passions can lead you to lasting job satisfaction.
Assess Your Financing Options
Once you’ve determined the franchise model that is most appealing to you, it’s time to start thinking about financing. Review the franchise requirements and startup costs of any businesses you’re interested in and consider how much you can afford to invest. Many of our franchisees at All Dogs Unleashed can get their branch up and running for under $150,000.
Many new franchisees lack the liquidity to cover 100% of their immediate franchising costs. This is where federally backed SBA loans, conventional loans, and ROBS (Rollovers as Business Startups) may come in handy.
Strategize for Growth
While franchises provide the business model and guidance to open your branch, it’s up to you to grow your customer base and profits. To strategize for growth, start with market research. Learn about your competition and your target customer. Pick a location for your franchise that is most accessible to your target customer but isn’t too close to the competition.
Once you sign your franchise agreement, you can begin the training process. Take full advantage of any training materials and sessions offered. By completing the training first, you’ll better understand the qualities to look for while staffing your new business.
All Dogs Unleashed has one of the highest growth rates of any USA dog training franchise. We want to hear from you if you think you’re the right fit for the ADU family. Get in touch, and let’s start planning your future as an All Dogs Unleashed franchisee!