Factors That Affect a Good Franchise Site Location
Factors That Affect a Good Franchise Site Location
How do you analyze your location to see if it will bring you success? The first factor to consider is the size of your city. If your city is simply not big enough, and is not likely to grow any time soon, you will not be able to sell enough products to turn a profit on your franchise, or even break even. You must also consider the size of your customer base. If you are catering to a small segment of the population, you must live in an even larger city in order to have the largest possible volume consumed.
Another important thing to consider is the location and routes that the customer you are catering to uses. You must know the target demographic of your customer and be able to capitalize on that using location. You want to put your franchise business on a route where your customer is likely to go, and to shop. If your target customer is wealthy, you want to keep your franchise business in an area of town where wealthy people shop, perhaps near stores with similar target demographics.
In addition, you will want to locate your franchise near related businesses in order to draw the maximum possible customers. If you are opening an office supply store you will want to be located near schools and offices in order to serve those customers and be most convenient for them. They will dictate where you locate your franchise business.
Employees are another important consideration. You want your franchise to be accessible to possible employees because otherwise you will have difficulty hiring and maintaining a quality staff, and consequently, quality service.
Lastly, consider the competition. You do not want to locate your franchise right next to a business that is a direct competitor. However, at first, you may be useful to locate your franchise near a competitor so that your customers are aware of your service and may defect to your business rather than your competitor’s.
Factors That Affect a Good Franchise Site Location - To learn more about this author, visit Sebastien Page's Website.
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Once you have selected a franchise you would like to buy, you must consider a number of factors to ensure your success in managing that franchise. One of the absolute most important factors in successful franchising is location. A great business in a poor location may be unable to turn a profit, and your franchise could become a losing endeavor.
How do you analyze your location to see if it will bring you success? The first factor to consider is the size of your city. If your city is simply not big enough, and is not likely to grow any time soon, you will not be able to sell enough products to turn a profit on your franchise, or even break even. You must also consider the size of your customer base. If you are catering to a small segment of the population, you must live in an even larger city in order to have the largest possible volume consumed.
Another important thing to consider is the location and routes that the customer you are catering to uses. You must know the target demographic of your customer and be able to capitalize on that using location. You want to put your franchise business on a route where your customer is likely to go, and to shop. If your target customer is wealthy, you want to keep your franchise business in an area of town where wealthy people shop, perhaps near stores with similar target demographics.
In addition, you will want to locate your franchise near related businesses in order to draw the maximum possible customers. If you are opening an office supply store you will want to be located near schools and offices in order to serve those customers and be most convenient for them. They will dictate where you locate your franchise business.
Employees are another important consideration. You want your franchise to be accessible to possible employees because otherwise you will have difficulty hiring and maintaining a quality staff, and consequently, quality service.
Lastly, consider the competition. You do not want to locate your franchise right next to a business that is a direct competitor. However, at first, you may be useful to locate your franchise near a competitor so that your customers are aware of your service and may defect to your business rather than your competitor’s.
Factors That Affect a Good Franchise Site Location - To learn more about this author, visit Sebastien Page's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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I've created this section on my site to share some of the incredible tools that I've used to build my business. I hope you too can benefit from them and look forward to hearing your feedback on the reviews! - Visit Evan Carmichael's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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