Pet Franchise

6 Skills for a Future Pet Franchise Shop Owner

6 Character Traits and Skills You May Have that Makes a Good Fit for the Pet Franchise

Passion

Everything in life takes passion. Different projects undertaken throughout a lifetime takes enthusiasm to see desired results. This is imperative in the franchising world. Without the ability to be passionate about your work, one cannot be guaranteed to see success.

Do you have passion about growing a business?

Many people do not. They simply want to work in career field they can muster. Then go home at the end of the day. For some, this is the ideal path. Despite the route ahead being clear, a few unique others deviate from this path. They have an inherent passion for business–entrepreneurs.

An advantage of having a business oriented mind is being able to control and improve revenue. The reward of this goes without saying. If your business pulls excess funds,you and your employees get better salaries. At the end of the day, you are the one controlling the money in your wallet.

Passion for business is important, but equally important is a passion for animals. Dog is man’s best friend. This narrative is told time and time again. Hollywood invests millions of dollars to make movies to tell this story. This marketing trend is not going to end and is a good thing for the pet franchise.

Imagine yourself outside the corporate office. You’re in a space you designed. A place  of love. A place for animal care and grooming. Does this sound like paradise? Do you love the animals you come home too?

Studies have shown that watching internet animal videos is therapeutic and reduces stress hormones. Petting your dog or cat lowers heart rates. Medically studied pet owners have been proven to have lower blood pressure. They also report overall superior well-being.

Do you love your animals as much as you would love to be in control of your own business?

This may be a sign you’re ready for a career shift.

Drive

The adage that nothing in life come easy is very true. What one puts into their life, is what they will get out of it. If you see yourself as a person who self-motivated. A person with a go-getter attitude. Who wants to get the job done, and done right. The pet franchise may be a place for you.

The beautiful advantage of franchising is that you see the tangible results of your hard work. Not only can you control the flow of money you’re seeing, but you get the chance to build something. Ever pour yourself into a project at work, just to see others reap the benefits? this is not fair. Building something of your own should have an equivalent pay out. That is why people start business. But starting up a small business is one the riskiest gambles of life.

Franchising exists to help eliminate unknowns. There is a fine line between a calculated risk and and unnecessary one. Franchising is a calculated risk; it has more guarantees and less uncertainties. Franchise has done most of the work for you. The brand has already been created and proven to work. Operating tools are ready for you. The resources it takes to run a business are literally at your disposal.

But, tools are only as good as the person using them. Without having the drive to use them, you will limit your success. A person trying to build a treehouse can buy the tools, read the blueprints, and pick a place in the backyard. But if they don’t have the drive to get out there and build it, the tree-house will never get built.

Experience

A franchisor never benefits from one of their franchise locations failing. It is actually quite the opposite. That is why there are effective measures put in place to ensure a good fit for both parties. The criteria  is stringent to protect franchisors and entrepreneurs alike.

If you thought of a cool idea. Say an invention that had great utility, cheap building costs, and a had a high demand. You would undeniably want to protect that idea. Without experience, franchisors cannot discern if one has the expertise it takes to run a business.

Do you have pet retail experience? Have you owned a business or managed a franchise before?

Both are important, but not necessarily vital to able to invest. The founder of Splash and Dash Groomerie & Boutique, Dan Barton, owned gyms before he founded the company. His love for his Yorkshire Terrier is what inspired him to start the company. A prowess for business mixed with a love for animals was the experience Barton brought to the table. A few years later an international pet franchise was growing steadily. A franchise that opened the most locations of any pet franchise. This is what made Splash and Dash make the INC 500 list twice. Meet the founder of our pet franchise here.

The experience of corporate America is vertical mobility–promotions. People go into franchising because they have agency over their own promotions. It offers a new challenge, and new freedoms.

Loyalty

Branding recognition is a strong asset for the business world. Brand has value. Customers walking in already have a preconception of your service and products. A subconscious trust of your business is already established, just by representing the brand. The Splash and Dash Groomerie & Boutique brand is a recognized and trusted brand. Customer satisfaction comes from our superior service, and high quality products. Customers love Splash and Dash. The love is mutual in our pet franchise.  

The privileges of the brand correspond with a need to protect the franchise cumulatively. Splash and Dash Groomerie & Boutique was founded on an uncompromising system of ethics. Ethics of pet care and business. We ask franchisees for loyalty to this system. For example we do not take part in dangerous grooming practices, or dubious business practices.

Teachability

Are you an intuitive person? Do you pride yourself on being able to learn new things, and take on new challenges?

Like any vocation, the pet franchise takes a certain amount of adaptability. Suitable candidates need to be able to be able to go through training workshops with an open mind. Focusing the mind to a task and retaining important knowledge may seem simple. Tot everyone has this ability. Owning a business takes abstract problem solving. Shop owners need to be able to learn management skills.

Initially there is a lot of hard work. Once your franchise location is up and running tasks are easily delegated to others. Your workload lessens as you lay the down the foundation of your franchise. The more work put in at first, the better the reward afterwards.

Mentoring and assistance is at a franchisees’ disposal the whole way through. Shop owners are in constant dialogue with corporate for questions and advice.

Humanitarianism

Part of the Splash and Dash Groomerie & Boutique company culture is a wanting to better the community. Our core values insist that owners are exercising ethical business practices.  Groomers  love to work with the customer’s animals. Bathing and grooming them with spa quality care.  We publicize information on pet health for customers to give their pets the best quality of life. Simply, we make the world just a little bit better everyday.

If this sounds like you, think about taking on a new challenge.

How Much Should Pet Franchise Owners Pay Themselves?

How Much Should Pet Franchise Owners Pay Themselves?

Waiting on Promotions and Pay Raises a Thing of the Past in the Pet Franchise

Corporate America is a stressful world to live in. Performing a job based on quality of work is ideal–equal pay for equal work. Unfortunately, this is not always the case, and more often than not, this is not how it works out. Many go to work, do the majority of their department’s work, then go home uncompensated. Stuck in a rut of hoping for a raise next quarter.

Commission based jobs are even more stressful. Individuals working under these circumstances rely on factors outside of their control for compensation.

How does one escape the aggravation of corporate America?

A possibility for entrepreneurs is the pet franchise. Investing into a franchise offers all the incentives of having a typical career: income, stability, health, benefits, and safety. It also allows one to become their own boss. This inadvertently leads to one being in control of their own pay.

But once you become a franchisee, how do you figure out how much to pay yourself?

Calculating What to Pay Yourself

Gross Profit – Overhead – Taxes = Salary

What you put into your wallet is essentially the above formula. Overhead includes operating expenses including taxes, retail products, employee salaries, and funds set aside for unforeseen circumstances. This is a fairly simple calculation. When things begin to blur is when your pet franchise begins expanding.

Dealing with Expansion

The above formula is still accurate, but what happens if business drops next quarter? For a pet franchise in the north that see’s the majority of their business in the summer. What happens when business falls in the quarter that falls under the winter?

Stephen Wagner–a private equity investor and financial strategist–offers his solution he calls the “variable component to a compensation structure.”Wagner suggests to set up yourself up with a modest salary with an additional monthly payment based on percentage of monthly earning statement. Wagner does warn that taxes will be drastically affected by this. Consult with a certified public accountant before making changes to your books.

 

Monthly Pretax Earnings Breakdown

  • 20%-> Invested in employees: Raises, bonuses, and team-building events.
  • 20%-> Build company’s cash reserved until enough has accumulated to cover at least six months overhead.
  • 30%-> Covers estimated taxes.
  • 30% -> Distributed monthly on top of base salary which they’re set to equal the median salary of employees.

Total Coverage

Wagner’s advice offers a total coverage plan. It is a conservative method of paying yourself. The plan allot for taxes, operating expenses, and unforeseen business expenses.

Realistically, going into a franchise needs to be worth the risk. So when does the pay off of this risk happen?

When your company makes excess funds give yourself a mid-year bonus. The bonus is based on company’s performance to date. This is based off a conservative projection for the final two quarters. Since this done mid-year allows time to make adjustments before the end of the fiscal year.