If you’re considering opening your own business, a franchise can be a great way to begin. Many established franchise companies are offering assistance to budding entrepreneurs in building brands within their communities that already feature stability, systems and leadership of organizations with proven success. With the basic operational and marketing building blocks already in place, franchisees have a better chance for success than what those who are creating and running new businesses from scratch can hope for.
There are numerous types of franchises to choose from, from the food industry to insurance, to family entertainment venues. Parents are constantly seeking new ways to motivate their children to exercise and have fun, which is why franchises geared toward children and family activities, like trampoline franchises, tend to be so successful.
In recent years, indoor trampoline arena franchises have enjoyed significant growth and continue to expand across the country, as evidenced in particular by Rebounderz Indoor Trampoline Arena, which has multiple locations across the country. As these national franchises increase their locations, the need for franchisees also increases. As with any other business endeavor, due diligence is highly recommended. With a franchise – especially a trampoline franchise – those who have gone before to establish a successful franchise can provide helpful tips.
If you’re looking to jump into a business with a proven concept, like a family entertainment venture, there are three things to keep in mind in order to be successful:
Know the costs
With any franchised business, opening a new location requires more than initial startup costs and operation funding. Prospective franchisees typically pay franchise royalties on top of their initial investments and also have monthly maintenance costs to consider when planning to open new locations.
“Experienced franchisees know that they must focus on the ongoing operating and overhead costs,” said Mark Gurley, Rebounderz Franchise and Development CEO and co-founder.
Some franchises have managed to minimize these sorts of overhead costs. Rebounderz is one of them and, using safety as its primary motivation, has engineered what it considers to be a superior trampoline system.
Its innovations make its design and engineering safer and less expensive to maintain than other indoor trampoline arenas. For its franchisees, that means maintenance costs that are roughly one-tenth that of comparable facilities, according to Gurley. By lowering what could be substantial maintenance costs, a franchisee has more revenue to spread to other areas of the business.
Know your customers
n order to be successful in operating a franchise, the owner must be dedicated to the growth of his business and passionate about the brand. The best franchisees know their target audiences well enough to survive even the worst of economic times. Surviving a recession – especially in the family entertainment industry – requires offering services that customers need. Rebounderz, for example, has been successful by maintaining an excellent reputation for safety and engineering and offering a fun way to incorporate fitness.
“We believe we have an early investment opportunity in a proven and recession-proof business model that’s still new to the marketplace,” Gurley said. “We have an opportunity to become among the first indoor trampoline arenas in most cities and communities.”
Few things are more vital than timing of an investment. Early investors in tech corporations are some of the most financially successful individuals in the world. Choosing to become a part of a business when it’s in its early stages allows investors to experience the largest growth potential.
These three tips are vital in getting your franchise off the ground. Jumping into a recession-proof concept can be incredibly rewarding as long as the investment is made early with the right expectations of cost and an expert knowledge of the customer base.