Location is Crucial to a Franchisees Success
Location is Crucial to a Franchisees Success
• If you don’t choose the right location, you may later find that your targeted age group is not there. Sometimes, the physical location of a place is not as important as the area where it is located. It is supposed to be positioned in such a locale where your clients stay. For example, if you choose an area with low senior population for starting a senior care business, then your wrong selection will lead you to failure.
• The next important thing that a good location can ensure is the right economic strata of society. There are many franchise opportunities, which will flourish, if you are starting them in a lower income group area. Examples of such group are the franchises that deal with payday loans and offer other bank-like transaction services like Family Financial Centers. Similarly, products meant for the people of the upper middle class should be offered in a location where the income level of the residents is slightly high. Educational Outfitters that provide school uniforms for private schools is a prominent example of this group.
• The location should complement the business. You cannot place a unit of Abrakadoodle in a business area or a unit of Business Cards Tomorrow in a residential area and hope to find success in your endeavor.
• The physical location of the franchise is also very crucial. Sit down QSR units need to be positioned in such a place where parking facilities are available. Otherwise, people will be tired waiting for a proper parking place and move somewhere else. In the same way, a Bear Creek Coffee drive-thru should be located in the direction of the traffic heading to work.
• Some locations have to be very specific in order to find customers. For example, WineStyles targeting upper middle-class over-40 patrons can be successful if located in upscale malls, but Dollar Castle will do well in a strip center.
Location is Crucial to a Franchisees Success - To learn more about this author, visit Michael Hemenway's Website.
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Three main ingredients for success in a franchise business are a lucrative franchise concept, adequate capital and a great location. You cannot influence the first two much, but the last one is entirely in your hand. So, finding the right location plays a big role behind your franchising success and if you are still not convinced, here are some points that you can go through:
• If you don’t choose the right location, you may later find that your targeted age group is not there. Sometimes, the physical location of a place is not as important as the area where it is located. It is supposed to be positioned in such a locale where your clients stay. For example, if you choose an area with low senior population for starting a senior care business, then your wrong selection will lead you to failure.
• The next important thing that a good location can ensure is the right economic strata of society. There are many franchise opportunities, which will flourish, if you are starting them in a lower income group area. Examples of such group are the franchises that deal with payday loans and offer other bank-like transaction services like Family Financial Centers. Similarly, products meant for the people of the upper middle class should be offered in a location where the income level of the residents is slightly high. Educational Outfitters that provide school uniforms for private schools is a prominent example of this group.
• The location should complement the business. You cannot place a unit of Abrakadoodle in a business area or a unit of Business Cards Tomorrow in a residential area and hope to find success in your endeavor.
• The physical location of the franchise is also very crucial. Sit down QSR units need to be positioned in such a place where parking facilities are available. Otherwise, people will be tired waiting for a proper parking place and move somewhere else. In the same way, a Bear Creek Coffee drive-thru should be located in the direction of the traffic heading to work.
• Some locations have to be very specific in order to find customers. For example, WineStyles targeting upper middle-class over-40 patrons can be successful if located in upscale malls, but Dollar Castle will do well in a strip center.
Location is Crucial to a Franchisees Success - To learn more about this author, visit Michael Hemenway's Website.
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Dianne CramptonDianne Crampton is an executive leadership coach, team consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. - Visit Dianne Crampton's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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