Five Things to Look When Choosing a Pet Store Franchise
When you want to own a business, it is important that you choose the right one. There are many pet franchises that you can choose from. By understanding some of the aspects to consider you will know which pet franchise is right for what you are looking for.
When selecting the right pet store franchise it is important to look at the industry. You want to choose an industry that is booming because this means more chances for you to make money. For instance, a pet franchise is a great choice because the pet industry is a $59 billion a year industry. The idea is to make sure that there is a market for what you will be doing.
You will also want to look at the demand of the pet store franchise. To do this you want to know not only how much revenue the industry is generating but the local demand for this. You will want to look for the stats for your local area. Do not be scared off by having a significant amount of competition. Finding a unique opportunity in the industry will separate your business from your competition.
The Amount of Money You Want to Invest
An important aspect of buying a pet franchise is to know how much you can invest. There are pet franchises, such as Splash and Dash that do not require a huge investment. You should never put all your capital into the franchise fee as there are many other expenses you will have. Make sure you have funds left over to handle surprise expenses.
What the Franchise Offers
You want to understand what you are buying into with the pet store franchise. Finding one that offers a proven marketing strategy with plenty of support will put you further ahead than going with a pet franchise that offers very little support. You should look for a pet franchise that offers you training and one on one support to ensure you are successful.
Unique Service or Product
One of the worst things you can do is choose a pet store franchise that is run of the mill. If there is nothing that sets it apart from your competition, you will find it difficult to get the sales you need to make your goals. The best thing you can do is to go with one that has something uniquely different from the others in the market.
Splash and Dash is a great example of this. The signature bath service allows customers to pay a flat rate to bring their pets in as many times as they want throughout the month. This is not only something customers want, but it is a great sales tool. It gives the business recurring revenue and the more frequent the visits, the more sales opportunities there are.