Investing in a business that helps other businesses grow, especially local businesses, is one of the most rewarding types of investments. But you may be wondering, “What companies are out there that help grow local businesses?” Fortunately, there are a number them – and there’s also a way for you to get involved, too.
BIG NAMES FOR SMALL BUSINESSES
Your immediate thought may be that local consumers are the only ones who can really help small businesses grow, but that’s not entirely the case. There are a number of bigger companies that help small businesses grow through their own resources and strategic partnerships.
Take Amazon, for example. They’re the largest online retailer the Internet has ever seen. A year ago, the company announced they would be helping small businesses expand their retail power to include international commerce. By using Amazon’s proven systems to sell internationally, small businesses get to promote their products further without having to worry about losing control of their branding or product quality.
Yahoo Small Business, a subsidiary of Verizon Small Business, recently brought in additional service partners to help entrepreneurs just starting out. Those who join Yahoo Small Business get access to special deals from 1-800Accountant, Constant Contact, PromoRepublic and WebCEO to help with the accounting, marketing, and SEO needs of small businesses.
More than 10 years ago, American Express created the concept of Small Business Saturday to promote commerce at locally owned businesses the day after Black Friday, the biggest retail event of the year. A year later, it was recognized by the Senate and the President – and all 50 states made an effort to take part in the day. Fast forward to 2020, and American Express has spent $200 million in initiatives to encourage card members to shop local.
Businesses thrive when they have strong clientele, but having the support of other companies is also crucial to the success and survival of any small business.
SO, HOW CAN YOUR INVESTMENT HELP?
Sure, you could purchase stock in some of the bigger companies mentioned as a sign of support. But if you’re interested in owning a business yourself that also helps other small businesses, there are options – for example, within the personal services and grooming market. There’s a common trend within the overall beauty and personal grooming industry that allows stylists and technicians to rent space to service their clients. Investors (like you) build the storefront, and hair stylists, barbers, waxing specialists, massage therapists, and more rent space within the salon to open their own businesses.
This approach is incredibly helpful for both the salon owner and the stylists renting. Salon owners don’t have to worry about payroll costs and stylists are able to build their book of business without the overhead costs of building their own salon. Owners can also appreciate the steady income stream from collecting rent as opposed to relying on the sale of services each day.
Another plus to this type of model is that owners don’t really need to have experience in the beauty industry. To make a concept like this work, salon owners need to have strong business acumen to keep the books and maintain the property, but they don’t have to provide services themselves. Instead, owners provide opportunities for a number of small businesses within the industry – many of which are women owned.
If you’re someone who is interested in this type of business model, there’s always the option of investing in a b2b franchise. Franchising allows you start your own business without the guesswork. Joining a reputable franchise system allows you to take advantage of a proven business model and brand-name recognition.
MY SALON SUITE: A REPUTABLE B2B FRANCHISE INVESTMENT
MY SALON Suite is a best-in-class salon suites franchise concept leading a growing industry. With more than 270 locations and additional salons in development, we’re the No. 1 salon suites franchise opportunity in North America.
We do not require our franchise partners to have prior salon or beauty industry experience. We have a proven business model and ongoing training and support to set you on the right path from the moment your location opens. As a MY SALON Suite franchisee, you act as a landlord of your salon. Your responsibilities include maintenance of your location, recruiting members to fill your salon, and collecting rent from those already leasing a space from you.
Best part? Most of our owners only work about 10 hours a week to keep their suites running smoothly. Our investors have the opportunity to pursue other businesses, enjoy retirement, or continue working at their full-time job while simultaneously helping other small businesses get their start.
Don’t just support companies that help small businesses grow, BE one. To learn more about our franchise opportunity, fill out this form, and one of our representatives will be in touch.