So you’re passionate about pet care and understand the appeal of owning a franchise… This is great! But have you considered everything that goes into owning a franchise? Lots of naïve franchisees believe that franchises are just a “business in a box,” meaning that a successful business will materialize once someone assembles all of the pieces. While franchises are indeed an excellent opportunity for business-minded go-getters who don’t wish to build a business from scratch, the process of getting a business up and running is laborious and complex. To maximize your chance of success, it’s important to be as prepared as possible before writing a check to a franchisor.
If becoming a pet care franchisee is your goal, check out the following checklist to prepare yourself and see if this is a goal within your reach:
Personality Quiz Yourself
It takes a special kind of person to be able to thrive in a franchise environment. People who tend to make snap decisions and “wing it” aren’t usually the best at owning a franchise. When you work with a franchisor, there will be plenty of policies and procedures to follow. While there are surely some decisions that you’ll make on your own, franchisees are expected to follow the rules and operate in a well-maintained system. Make sure that you and/or your team is prepared to work like this, as owning a franchise is not just a hobby.
Speak With Other Franchisees
In life, seasoned veterans are an indispensable resource to learning something new. Reach out to some franchisees, especially those in the pet care industry, to gain insight about what to expect. While franchisors work their hardest to prepare their franchisees, it’s likely that some experiences will still come as a surprise. Getting in contact with other passionate pet care professionals can hopefully allow you to avoid some of the mistakes they have made before.
If you get a chance to speak to another franchisee, consider asking the following:
• How long have you owned a franchise?
• What qualities do you think are the most important to running a pet care business?
• What has been the biggest surprise for you?
• Have your expectations been met? What was unexpected?
Perform Cost/Benefit Analysis
Another evaluation tool worth exploring is a classic cost benefit analysis. Write down all of the benefits that you’ll get from owning a franchise and record the costs associated with each benefit. Benefits can include well-known branding, training, and an opportunity in a growing market (all things that All American Pet Resorts offers to franchisees). Costs can include any startup fees as well as merchandising mark-ups.
Organizing this opportunity into the costs and benefits, along with the other two prep strategies, will be an excellent opportunity for you to really ask yourself: Am I ready for this? Purchasing a franchise is a huge decision, and not one to be taken lightly. You will be in a position where you’ll want as few surprise in your day-to-day business as possible, so be sure to do as much research as you can. You’ll probably never look back with the knowledge that your research supported a solid business investment decision.
If you think you have what it takes to run your own successful franchise in the pet care industry, visit our website to see if AAPR would be a good fit for you!