WHAT MAKES A GREAT WHITE-COLLAR FRANCHISE OPPORTUNITY
White-collar franchises provide professional services to consumers or other businesses. Many enable the franchisee to work directly with other business owners to help them grow. Here’s how to spot a great white-collar franchise opportunity.
A BETTER FIT BUSINESS
White-collar businesses were initially given their name for the professional, corporate environment and yes, typical work attire such as the white button-down dress shirt. While things might not be quite so literal anymore, these types of B2B businesses allow franchise owners to deliver a product or service via a system that can be sometimes be operated on a semi-absentee basis.
White-collar franchises are on the rise in popularity as franchising itself is becoming more popular. Experienced professionals are keener now more than ever to run and develop their own business, so this is contributing to more people with piqued interest in working with a business-service franchise.
It’s been proven that professionals with experience in sales, management, marketing, or finance are adept at spotting growth potential and brands on the rise.
While looking at business-service franchises, you’ll find there are many out there to explore. If you’re wondering how to narrow your search, keep some key factors in mind.
STARTUP COSTS
One of the biggest factors to consider when choosing a franchise is the initial investment. It’s important to remember, however, that you’re paying for an already well-developed business; you’ll also receive the trademarks, operating systems, initial training, materials, skills and ongoing support and advice. One of the major benefits with a franchise is you will also benefit from the franchisor’s and other franchise owners’ efforts in developing the brand’s success, an element that is not available when launching your own business.
White-collar businesses are based around giving your time and expertise in exchange for a fee; therefore when starting up, general business experience is often just as valuable, if not more so, than industry-specific experience with any given franchise.
LOW STOCK REQUIREMENTS
White-collar businesses require little to no inventory, which cuts down on (or erases) inventory management and transportation costs, saving you money and time to concentrate on other aspects of your business such as quality service and client acquisition and retention.
A DIFFERENT LEVEL OF SUPPORT
All franchises depend on the strength of their support network and executive team, but management franchises have especially strong systems in place to ensure that everyone is using the best tactics to build success.
BUSINESS-TO-BUSINESS (B2B) EDGE
Working directly with other businesses as a B2B franchise can offer the advantage of consistency as you form relationships with like-minded professionals who seek mutually beneficial arrangements.
This is particularly true of a turnkey franchise in the recession-resistant salon industry, like MY SALON Suite, which provides franchise owners with everything needed to start building success from Day One. With a semi-absentee franchise model, MY SALON Suite allows franchisees to keep a flexible schedule, rely on the expertise of our executive team, and scale their business with multiple locations. Want to learn more about franchising opportunities with MY SALON Suite? Request franchise information today!