How
was your franchise/opportunity originally conceived and started?
About 20 years ago, saw Play It
Again Sports and realized the need to apply the recycling
concept to home healthcare
equipment. HO developed the initial location and ran it for
7 years until it was sold as a
going concern.
What
was your original vision for your company? How has that changed over time?
Offer the senior living in their
own home a lower cost solution to maintain their
independence with recycled
healthcare equipment. The concept has become more
structured in the business side
of the model with statistics, tweaks to all aspects of the
marketing etc. The core vision
has remained in place.
What
do you believe is the single most important factor when choosing a franchise?
The market has to be there along
with a detailed plan with measureable time bound
steps to achieve market share
dominance thereby building the brand recognition.
Why
should someone choose your franchise over other similar franchises?
Nothing quite the same. We are unique with the
focus on recycling accessibility equipment.
However, we have a dominant
position on the web, an exacting marketing plan that
has been tweaked continuously over the past 15 years and hours of operation that are
more in line with normal
business hours.
What
makes your industry attractive?
The market size will double due
to the demographics and product awareness. Governments are cutting back on
healthcare budgets. The senior wants to remain in their own home.
What
types of qualities do you look for in potential franchisees?
Can relate the senior and the
healthcare professionals. I willing to follow a proven system.
What
do your franchise fees and royalties cover?
45K , 5% royalties. Right to operate
system and use trademark.
How
do territories work for your franchisees?
Exclusive. Minimum 500,000
Where
do you see your franchise in 5 years and 10 years?
5 years 146 locations across the
USA and Canada. 10 years in six other countries.
What
is your favorite advice for new franchisees to help them succeed?
Follow the marketing plan each
and every week. Learn from HO and the other franchisees. Copy what works and
rap your own personality around the business.
What
would you tell potential franchisees that may be nervous about the financial
burdens
of starting a franchise?
All business is a risk. A proven
system boils down to your effort and focus.
Read more about Silver Cross.
About the author:
Farrah Kennedy knows franchise prospecting and knows it well. Having served as the General Manager at Franchise Gator, the leading on-line directory for franchise and business opportunity information, until December 2013, she managed all aspects of the business, including franchisor relationships, franchise leads, P&L and strategic objectives and growth, as well as taking care of Gator Crew who affectionally referred to her as 'GatorMom'.Farrah began with Gator since almost the beginning - she was the first employee in October 2003. Before Franchise Gator, Farrah started her career in lead generation in 1997 with NewHomesDirect.com, a research site for potential new home owners where she served as the Director of Operations for 5 years.
Farrah now serves as Senior Manager at Mail Chimp.