Pet Franchise

FIve Ways to Increase Productivity in Your Pet Franchises

If you’re worried about the productivity and happiness of the franchisees and employees of your pet franchises, there are a few ways to ensure that your franchises are more productive. When it comes to motivating and creating the results franchisors want to see, they often fall short by making efforts that actually provide the opposite results. In order to create a better company in the pet industry, consider some of the following:

1. Inspire Your Team Rather Than Guilt or Nag

When bosses or franchisors aren’t seeing the results they want, it’s not rare for them to nag, yell at, or guilt their subordinates about the lack of results. Instead of doing this with your pet franchises, consider inspiring and encouraging them instead. The saying, “you catch more flies with honey than with vinegar’ remains true even in business with your subordinates.

2. Identify Problems and Aim to Correct Them

For your pet franchises to operate to their best capacity, you will have to pay attention to any problems in the system, work to identify them immediately, and solve them as quickly as possible. While you want to be fast, you also want to be accurate. There’s nothing more frustrating to franchisors and franchisees alike than to spend time-solving a problem only for it to continually pop up again and again.

3.    Focus on the Team-Win

Whether you’re looking to change your marketing plans, create new products, or you’re problem-solving something else altogether, look out for everybody’s win instead of just your own. Your pet franchises will be much happier places if they’re taken care of by people who know you’re looking out for everybody’s benefit instead of just your own. In fact, if you look out for the team, you will also garner more power, support, and initiate teamwork between your franchises.

4.    Challenge the Pet Franchises Standards

Of course, you want to do this in a good way. Imagine for a second that the owner of one of your pet franchises brings a problem to your attention and the only reason you haven’t done anything about it before is because of some rule you or the previous franchisor made at the inception of the pet franchise. Challenge yourself and your company regularly in order to improve operations, systems, safety, and products. Exercise caution so you do not mess up your franchisees further as you test around, but as you problem solve and show you make mistakes and don’t mind correcting them, you will instill a new level of confidence in your company overall.

5. Be Courageous and Trust Yourself

When you make a big decision or change in your company, you may begin to second guess yourself. Changes are hard to make, especially when they could change the course of your pet franchises everywhere. However, taking your time to think through the decision and then sticking to it with courage is a great way to enable success and gather the support of your franchisees or employees. If you find that your idea is not working out the way you thought, that’s alright and you can change your direction, but you should never continue with a plan you know is failing, panic, or appear fearful to your employees even in the worst of times.

 

How to Get a Loan for Low Cost Pet Franchises

There is no denying that low cost pet franchises are a lucrative opportunity for most people. The one problem most people have though is coming up with the funding they need to get the loan. If you are trying to figure out how to fund your new business, here are a few options you may not have thought about.

 

Borrow From Your 401(k)

This can be a great way to get the funds you need when buying low cost pet franchises, though it is not for everyone. First, you will need to make sure that you can borrow from your 401(k) plan. There is a good chance you will be able to because approximately 87% of all 401(k) plans offer this feature. You will need to make sure you understand the regulations for your particular plans to know the amount you are able to borrow as well as any fees that may be associated with this. Keep in mind this is also only a good option if you have a decent amount saved in your 401(k).

 

Home Equity Loan

If you have a  home and have ample equity built up, then you can always take out a home equity loan for low cost pet franchises. While you may think that you do not have much equity built into your home, keep in mind that the value of home nationwide has been on the rise for over a year now. Also keep in mind that you do not have to get an appraisal of your home if you want to get a general idea of your home’s value. You can simply look up comparable homes in your neighborhood that have sold. This will help you get an understanding of what the prices in your neighborhood are at right now. If you find that there is enough equity in your home,  then start talking with lenders.

 

Unsecured Loans for Low Cost Pet Franchises

If you do not want to put your home, car or other property up as collateral for your business, then an unsecured loan may be the best option for you. Many owners of low cost pet franchises use this option because the approval for the loan is quick, generally within 24 and 48 hours. The one downside to this is that it does have a significantly higher APR than traditional business loans because there is no collateral on the loan. You may also need to provide extensive documentation compared to a traditional business loan.

 

These are just a few of the options you can use to fund low cost pet franchises. There are many other ways that you can get the money you need. Simply take  the time to assess your financial position and what you have available to you. If you are not sure, then visit a financial adviser. They can help you find the options that are right for you.