Investing in a franchise is a wise choice for those looking to start their own business. There are a number of reasons for this, not least the fact that a lot of the upfront work has already been done for you – things such as market research, industry placement, decisions on products and services to offer, and the design of a business plan and operating procedure.
With so many different franchises to choose from, it can be a challenge to decide on which one to go with. To make the choice easier, there a number of things one should look out for that will help you choose the franchisor that is right for you.
The first element is market opportunity – understanding whether there is enough growth potential in the industry you are considering, so that your business can flourish. It helps to have already chosen an industry before you research this element, as the options can otherwise be overwhelming.
The second aspect to consider is financial performance – is the franchise you are considering successful within its industry, and how do you find this out? A key way to do this is to look at how many franchises are already in existence within the network, and whether the network is growing. This, along with the length of time that a franchise chain has been in existence, is a good indicator of whether the franchise network is performing.
Franchisor support is another critical element to consider when choosing a franchise to invest in. Many franchisors do not offer ideal levels of support, especially to new business owners, and this can hamper your growth.
Establishing whether the franchise network you are considering has a differentiator that sets them apart from other similar businesses in the industry is also important. Without a unique selling proposition, your business could get lost among the many others offering the same service.
The franchise model used by the franchisor is also important, and can determine whether or not this is they type of franchise you want to invest in. The range of franchise models include retail, wholesale, manufacturing and brokerage, and each has its own system to ensure success.
One of the industry’s with tremendous growth potential is the nail and beauty industry, with many franchise options to choose from. Tammy Taylor Nails is a market-leader in this industry, offering franchise all of the above important factors, and more. Started in 2013 by President and Founder of Tammy Taylor Nails South Africa, Melany Viljoen, the franchise network has grown from strength to strength, with over forty Tammy Taylor Nails salons in operation countrywide.
The company prides itself on the extensive support it offers to all franchisees, whether their new Tammy Taylor Nails salon is their first business, or they are experienced in owning and operating businesses already. From initial assistance with location scouting and lease negotiations, right through to intensive training and assistance with recruitment, Tammy Taylor Nails South Africa is a franchisor that truly cares about its franchisees.
The franchise model is a retail one, and this is the most popular in the nail and beauty industry, as well as the one that offers the easiest entry into the market. Lastly, Tammy Taylor Nails offers a true differentiator – the combination of a unique salon experience, training by highly skilled master educators, exclusive shopfitting and high-quality products imported from the USA. These elements set Tammy Taylor Nails apart from the rest of the market, and ensure that each franchisee is able to offer their clients the ultimate in a nail and beauty experience that is second to none.
Visit the Tammy Taylor Official website now for more info about starting a high end salon franchise.