Franchising is a proven business model which is why you have a much higher success rate than if you were completely going it alone into the world of business.
All of the hard work and research has been done for you when you buy into a Franchise and in fact all of the things that you don’t necessarily consider when you get to the point of wanting to set up your own salon.
Some Statistics for you:
- According to the BFA 93% of Franchise businesses claim profitability, with only 1% of franchises closing due to commercial failure
- 30% of Franchises are now owned by women – Hooray, now let’s get that figure up with Mooeys!
- 20% of businesses fail in their first year and up to 60% will go bust in their first 3 years. When you see the reasons why these businesses go bust here, you can see why Franchising does have such a higher success rate.
- According to Franchise Local 85% of Franchisees are still in business after 5 years, in comparison to only 38% of independent start-ups.
let’s start with branding! This is by far one of the most important factors when setting up a business, yet the majority of times you see beautifully decorated salons with really poorly chosen names that are found in every high street. Also, there are hardly ever any trademarks or protection against those business names so anyone else can use them.
A strong brand identity that shows a great reputation and high standards are always going to be a more popular choice for new customers in any business. For instance, if you check out google for any of our salons you can see we have over a thousand reviews with really high overall scores.
If you were setting up a franchise salon, your new clients would look at the other salons to see what the reputation is. With reviews from actual humans, your clients will have a real sense of what you will be offering which gives security that they are spending their money in the right place.
Now compare that to setting up on your own, building those google reviews and the reputation that has taken us 9 years to achieve. This is what Franchising is all about. Buying into an established brand that has made all of the mistakes, learned the lessons and found the best practices so that you can succeed from the offset. Not take your own 9 years to get there.
We have over 12,000 clients on our database now and for every franchise that opens, this list continues to grow. When we share the news of a new salon opening – our clients tell their friends who live nearby, they want to come and see for themselves and most of the time they will come along to new launches with friends from that area just to have a nosey (which we absolutely encourage and love). Imagine opening a new salon with a database of thousands of clients to talk to about your new salon.
Then we are onto finance. Creating a business plan can be daunting, but also brilliant if done correctly. We work with all franchisees on their business plan, we give them budget sheets to work too and a really accurate idea of when their return on investment will be. We have nominated suppliers so we get the best prices available because we buy as a group, we have payroll and bonus structures that are used in our salons and shared with the Franchise network, and we do cost analysis of your local areas to ensure you are charging the correct prices for treatments to fit our target market. All of these areas of the business can be tricky to understand if you have never run a business before, however with a Franchise it is done with you and for you. This all contributes to the success of your business and comes back to getting to your goals quicker because you follow a process that has proven to work.
Marketing can be a drain on your finances. When it isn’t done correctly advertising can cost you an absolute arm and a leg. Imagine having a new salon all set up and then waiting for clients to come in the door. So, you stick a few hundred pounds on Facebook ads to boost awareness and it is still like a tumbleweed going past your front door. That’s where I was when I first set out with Mooeys. I set up a new brand and a new salon, specialising in just nails and waxing in a town that I had never even lived in. I had to make it work, I had to figure it out and I had to keep on trying. I spent thousands along that journey of figuring things out so that you don’t have to. I won’t let you make the same mistakes I did, and I figured out what worked, when and with whom. I now go through a whole day’s worth of training in our management programme to cover this to help you even more.
Operations and procedures can be a minefield. Have you ever had to worry about Health and Safety policies before or HR legislation? Maybe you have worked for large companies where this is all done for you, or you’ve worked in salons where nothing like this is even considered. We have a policy and procedure for everything so that you are never caught out or unsure of what to do.
We have experienced every type of scenario, staff situation, and complaint you can think of. We have taken all of our experiences and written a guide on how to deal with them, how to overcome them or even how to manage them. The last thing you want to be bogged down with is learning about every Health and Safety legislation (boring) or even contemplating understanding the world of HR. If you haven’t worked in management roles or managed larger operations, when would you have learned about the world of HR or Health and Safety? Yet these areas are where businesses tend to be most vulnerable when it comes to claims, and I personally feel that this is truly where franchising really comes into its own. You are fully supported so you can concentrate on managing your teams, delivering excellent service and driving your business which is where you make your money after all.
What’s the Beauty Industry like? The Beauty world is a great industry to be in, it is super rewarding and so much fun. Don’t get me wrong, it is really hard work and sometimes really stressful (any role when you are dealing with people can be stressful right?) but I wouldn’t change it for the world. When you can provide incredible service, and fun and enjoyable jobs to awesome humans, in an environment that you can be proud to call your own – it really is a super magical place to be.
That’s really just the tip of the iceberg when it comes to the perks of buying into a Franchise and I could honestly go on forever on this subject. I absolutely love that I can help people from all backgrounds have a beauty business of their own, and I can teach them how to run it effectively and profitably as well as support them on their own journey. There will be failures and mistakes along the way, however, that is part and parcel of being an entrepreneur. The main difference is that you can have all of that whilst having someone to hold your hand the whole time and walk with you through it, rather than doing it alone or trying to figure it all out yourself.
I always love a chat, so if you have got this far and the thought of having your own salon excites you or puts butterflies in your tummy – get in touch. I hate hard sales; I tell it how it is and I certainly won’t give you a false sense of reality.
So, drop me an email or call and let’s see if this could work.
Lots of Love