Franchise Information

5 Must Read Tips for Buying Pet Franchise Insurance

What to do After Due Diligence

After deciding on the pet franchise that best matches your needs and vision, every business owner needs to purchase insurance. Splash and Dash Groomerie & Boutique advises new owners through the process of buying. The company also has a minimum for coverage.

Since animals are involved, owners are encouraged to rigorously do their research while shopping. There are standard insurance providers, as well as insurance catered specifically for the pet industry. Pet insurances providers cover pet businesses from grooming locations too a single dog walker.

The first Step, Assess Your Pet Franchise Risks

When browsing around for quotes you will need to know what you should look for in insurance providers. This is a two way street. Before issuing insurance, providers go through underwriting–a process of evaluating the business owner’s risk. The insurance company will determine your risk while reviewing your application. They will assess whether they will provide the total, or a portion of your requested amount.

Underwriting is based on risk factors associated with your business like building type, location, local fire protection services, and the amount of insurance you request. These factors determine your premium. Insurance premium is the price you pay. A deductible is the amount agreed upon you will pay if you file a claim.

Usually, the rule for this, is the higher the deductible, the lower premium. Be aware that exceptions happen. If you opt for a high deductible you are taking somewhat of a financial risk. Do your homework. Assess what insurance packages will best protect you, your employees, and your customers.

Quotes and Shopping Around

A good resource is The National Federation of Independent Business. Although those going with a pet franchise can ask the advice of seasoned franchisee owners, and the franchisor. The extent and costs varies depending upon the specifics of your company, or franchise.

Those interested in the pet franchise will need very specific coverage. You will want to get quotes from pet insurance providers that solely cover pet businesses. Two reputable providers that Splash and Dash Groomerie & Boutique likes as options are Petpro and PetBiz. Petpro is partnered with National Insurance Program group, and can provide good coverage without  the gaps that a business owner policy might have.

But going with a standard insurance policy can also have it’s advantage, so again, take the time to compare prices.

Consider a Business Owner Policy

Business Owner Policies (BOP), can be cheaper than buying insurance options “al la carte,” or separately.  Coverage purchased separately usually has higher total premiums. A standard BOP converges options of property, general liability, vehicles, and business interruption. Pet franchises will want strong liability insurances for unforeseen events involving animals.

Your business may require additional coverage that is not always included in the BOP packages.

Choosing to go with a BOP can help simplify the process and can save you money.

Seek Out Reputable Brokers; Licensed Agents

Commercial insurance brokers acts as a liaison between insurance providers and your business. For simpler insurance like auto insurance brokers are not needed, but for small businesses it is a good idea for new entrepreneurs.

Brokers receive commissions. Depending on the situation, a broker’s commission comes from the insurance provider, or the business owner.

Brokers and agents are licensed, but finding a good one is comparable to finding a good lawyer, or an accountant. Ensure your broker has your interests in mind, and knows all risks of your business. Most states provide a directory for finding a broker. You can also refer to testimonial pages on Yelp or LinkedIn.

Assess Your Coverage Regularly

Insurance protects your business, but as your business expands, the protection will need to match. If your franchise is seeing huge growth and you decide to expand, make sure you speak with your insurance provider before increasing business. If you purchase or replace any grooming or business equipment, you will also want to contact your insurance provider. Discuss all changes of business.

You should plan for an unsteady future. Unforeseen events and disasters can disrupt business. You will want to be covered if there are any interruptions to business, you experience dishonesty in employees, or the unthinkable happens.

 

8 Things to Look For in a Career

Job Searching

The nature of the today’s American economy is more dynamic. Technological convergence and a flattening world leads the path for various career openings. The options are wide. Software innovations give way to job openings that veer from vocational and focus on individual drive. Millennials aren’t staying in the same careers. Franchising is stronger than ever. Outside of the pet franchise, out-sourcing competition is always present.

Whether you’re a neophyte in the job market, or just someone looking for a new adventure. This article outlines 8 essential things you will want in  a career.

Impact on the Industry

Does the company progress humanity in small or large ways? Do they have a unique business model? What puts this company ahead of the competition?

Today’s companies aren’t just recycling the same formulas to provide a service or product. Business is modernizing. The pet franchise is becoming more premium focused. Companies progressively use future tech.

When searching, find a company that fully embraces innovation. The company should influence and better industry standards. IT updates should be made frequently, and open-source software use should be encouraged. Services should be superior and should be done with intrinsic goodness. Many companies encourage suggestions for terminal software like the pet franchise.

Be wary of sales positions that use a large army of salesmen. Companies like this tend to adopt “quantity or quality” tactics and employment.

Be Around People You Want to Work With

What is the company culture like? Is it rigid and competitive? Or, is it incentivizing and exciting?

Many companies want prospect employees to take personality tests. This part of the application process and is becoming standard. They are trying to stop human resource disputes before they happen. Depending upon the industry of the company, this weeds out different type of people. Look for a company that is building a diverse team with varying perspectives.

Problems at the workplace are a reason many entrepreneurs are turning toward franchising. Franchising allows you to be your own boss. You can choose who you employee, consult with, and your colleagues. A franchise owner is like the president, and the presidential cabinet are their employees.

The people around you should motivate, challenge, and respect you.

Company Puts Staff First

Happy employees lead to increased productivity and retention. This inadvertently leads to more earning potential. A good website to get a gauge for this is glassdoor.com. The website does an overview of companies based on salaries, benefits, and interviews. Employees write reviews that expose companies with high turnover rates (bad sign). Bad management, pyramid schemes, and slow professional growth are all topics for reviews written.

Companies that use cut-throat functioning aren’t nearly the best ways to motivate employees. The trick is to find a company where you have agency. Franchising freelancing and getting involved in a start-up, are good places to start.

Start-ups can be exciting, but statically risky. If you interview with a start-up be prepared to work hard without any initial strong revenue. But every once in a while, start-ups strike gold. Freelancing is another good consideration. The variety of unique skillets in graphic design, writing, and marketing are opportune routes. When submitting proposals be suspicious of dubious clients. Clients paying by the letter or web sites offering too good to be true contracts are clearly a scam.

Franchising is great because it allows you to design your benefits. It takes aspects of both start-ups and freelancing. Although the franchise is secure, the shop is new, and yours. You also can apply your skills in areas of the freelance industry, or delegate to others.

 

Excitement and Passion

Are you excited to go to work everyday? Does your job stimulate and challenge you intellectually?

Don’t work at a deli if you’re vegan.

Companies and bosses should encourage you to drive your own ideas and projects. Companies that embrace the value in their employees like Google and Edward Jones . You want a company that actively is interested in your well-being.

Research a company’s motto and core values. If they do not align with your own, try and work for a different company. Company culture is important. If a company CEO’s have a different interpretation of goals, than your own, this is a red flag. Most companies with questionable values do not last long. Ethically minded companies appeal to consumers and employees.

Within the franchising realm values are transparent. The fun thing about franchises, is that you have the ability to pick where your energy and intelligence will be poured into. If you spend more than five days at the gym outside of work, why not just buy a gym franchise? If you play with your dog everyday, and spend more time bathing them than you do watching T.V., consider the pet franchise?

Well-being is combination total of income, stability, health benefits, and safety. Everything is a risk and they’re good to take. Just make sure you’re passionate about it.

Will You Grow Professionally?

When a company hires an employee it costs them a significant amount of money. Thriving companies should view this not as a cost adding to overhead but an investment in the company. They should want to cultivate employees and strengthen them professionally.

As the dynamic unfolds in the economy, companies are cutting costs left and right. They are prohibiting growth, staggering promotions, and curbing creative thought. Eventually this becomes a hindrance. Companies should have horizontal promoting. Vertical mobility should not be the only thing rewarded.

The most ideal company to find is one that adopts laissez-faire. Companies like this are slow to hire. They find the minds they like and devote themselves to making excellent employees.

An option for those not in favor of cubicles is available. When structured 9 to 5 is not ideal. Franchising is an adventure worth researching. The pet franchise was the only industry not affected by the 2008 recession and recent numbers look good.

Uplifting Environment

Not every corporate job can look like the inside of Google headquarters. But the place you work at should hold some kind of ambience. Companies now offer free fruit, coffee, and canned drinks to help increase healthy productivity.

You can’t always work for a place that has the ability to offer incentives like this. But it is definitely a pro when job searching.

Start-ups usually offer daily lunch meals to keep employees happy (also for tax purposes). If you are working freelance you can pick and choose between coffee shops, internet cafes, and the comfort of your own home. You might also consider setting up an LLC for yourself. This can be tedious, but sometimes worth it.

Franchising is also a field in which you can control your own environment. Pick a franchise that has appealing and exciting color palettes. McDonald’s may be a secure choice in franchising, but keep in mind you will have to look at red and orange walls. Color schemes are designed to keep customers moving. Franchises in the pet franchise are known to have inviting ambience that soothes customers. Also nice, is that any artwork added to wall space is under your complete control.

Keep Options Open

Millennials receive a lot of criticism for “job hopping.” The fact is in today, no matter your professional circumstances there many options open. Companies work hard to stay relevant, competitive, and profitable.  Start-ups are exciting. Franchising gives you a world of opportunity to control the aspects you look for in a company. They provide the income, stability, health benefits, and safety we all look for in a career path.

Keep your resume updated, and your mind open.