4 TIPS FOR A SUCCESSFUL FRANCHISE

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With some careful planning and a lot of hard work, setting up a successful business franchise is easier than you might think!

 

1. Choose an Existing, Successful Business

Setting up a brand new business is not only risky; it’s also a lot of work. However, setting up a franchise for an existing, reputable company will help take some of the guesswork out of how to operate your new business venture.

 

For instance, here at SafetyQuip, we offer a great deal of support to our new franchisees, and we can provide you with the tools you need to succeed, including a great product range, a broad-reaching web presence, and of course a business model that has proven to be successful time and again.

2. Structure Your Finances Carefully

Many franchise owners set themselves a low take home salary when they’re just starting out, however, as your business grows, so will your income. The most important thing to consider in the early days of your franchise operation is the best ways to maximise cash flow. This might mean some long hours and a lot of hard work, but careful financing in the early days of your business is the best way to ensure you start earning the big bucks further down the track.

 

3. Don’t Forget About Local Area Marketing

One of the best parts about operating a franchise is that you won’t have to invest as much time and effort into marketing your business, as the company’s head office will provide national material such as catalogues e-marketing, flyers etc.

 

However, don’t forget about your local area marketing is an essential part of the marketing mix. You have the unique opportunity as a franchise owner to target your key demographic in your local area with a few simple marketing tactics.

 

Get involved in local community events, if you’re operating a SafetyQuip franchise, get to know your local businesses and their safety needs. You can even look at sending out some custom EDMs to your specific demographic on any special promotions or events you might be holding in your specific store.

 

If you speak with your head office, you’ll find they’re as keen as you are to improve your local marketing plan.

 

4. Expand Your Safety Franchise Over Time

Much like a successful property investor wouldn’t stop at just one property investment, once you’ve worked out how to successfully operate a single franchise, you can increase your revenue and business presence exponentially by adding more franchise locations to your portfolio.

 

A multi-franchise approach is a great way to use your existing skillset and industry knowledge to broaden your business reach and the good news is that unlike most franchise systems, there are no additional franchise fees.

 

Are you thinking about opening a franchise but don’t know where to start? SafetyQuip Australia offers some great franchise opportunities to people across Australia, so talk to us today about getting involved in our fantastic safety business.