You Invested in a Franchise. Now What? | VetFran

When it comes to becoming a franchisee, there are a lot of things you have to think about and do beforehand, such as determining the franchise you want to invest in, where to open it and how to finance it. But once all that is done, then what?

Our team at VetFran wants to help you understand the steps that come after investing in a franchise.

Enjoy the Ride

Investing in a franchise can be an exciting ride full of ups and downs. Let’s take a look at what needs to happen after you have invested in the franchise of your choice.

It might have seemed as though it took forever to get to this point—and maybe it did. First, you had to research to find the right franchise fit for you. Then, you needed to learn how to obtain the start-up costs for the franchise. Next, you had to find your location, build your business and hire your staff.

Now, here you are…and it is time to finally open the doors! But the hard work on the road to success doesn’t end here. Now, you want to do what you can to keep your business working as effectively and efficiently as possible for the long haul:

Keep the Momentum Going

There is a lot of excitement right now with your business opening its doors. You want to make sure to keep this momentum going by going out into the community and networking as much as possible!

Print business cards or fun promotional items to pass out to the community. Shake hands with other business owners and get to know your customers. You want to start building those strong relationships from the get-go in order to build loyalty in the long run.

Make Your Employees a Priority

Many times your employees are the first point of contact for your customers. Therefore, you want to make sure they are representing your brand to the best of their ability.

Make sure you are providing the training necessary from the start, as well as continued training opportunities throughout the year. The learning should never end.

In addition, you want to provide incentives for your employees. These incentives may include recognition and rewards, professional development, profit sharing, tuition reimbursement, bonuses and raises, and even fun gifts!

Spread the Word

“If you build it, they will come” isn’t quite true when it comes to a business. You have to promote it! In addition to getting out physically in the community, invest in a solid marketing strategy.

For optimal results, this should include a blend of traditional (TV ads, newspaper ads or printed mailers) and digital marketing campaigns. At the start, though, you may find the most return on your investment from lower-cost options such as social media marketing and advertising.

We are here to help you connect with the business of your dreams after a military career. Contact us today to see how we can help!