When buying a grooming franchise, the costs can add up fast. Even if you choose the option with the cheapest franchise fee, you will find that the startup costs are more than you expected. Let’s look at a few of the ways that you can cut costs with your dog grooming franchise.
Use Negotiating to Your Advantage
One of the ways that you can save money on your franchise is to negotiate where possible. This is not always an option for everything but there are areas where this is possible. For instance, negotiating on the lease agreement for the space for your location is essential. You want to make sure you get the right space with the right lease options, so this is an important aspect of the franchise buying process. Splash and Dash offers assistance with this process to ensure that you get the right location at best price for what you need.
Know the Cost
Another way that many new franchise owners lose money is by not knowing where their costs are going. While you may have to use certain suppliers with your franchise, there are others that you do. For instance, you should know where your fees are with your banks. By knowing the fees associated with your day to day operations you can find the most economical way to handle your business.
Take Advantage of Free and Low Cost Advertising
Just because you buy a dog grooming franchise does not mean advertising is not needed. Even with well known franchises, you still need to get the word out about your specific location. There are many low cost ways you can advertise, such as billboards in your local community, networking and more.
Only Hire the Staff You Need
Staffing accounts for a large percentage of a business’s expenses. While this is a necessary expense, it is important to only hire the help you need. This means not only the right number but also the right team members. Overstaffing your dog grooming franchise can cost you in labor. On the same token, being understaffed is bad for your image and customer retention. It may take a little time to figure out the right staff for your needs. Your franchisor should be able to give you some help with this.
Keep Good Financial Records for Your Dog Grooming Franchise
Opening a franchise takes a lot of hard work and many new owners think they can just put off recording their financial information. The problem with not keeping good records is that this can cause you to report things wrong on your taxes, which can cause you to pay more than you need to. Also, if you are ever audited by the IRS, then this can turn into a nightmare where you are left paying hefty fines and taxes.