A Retail Franchise Buying Tip

5272859613 4e44a2a94a A Retail Franchise Buying Tip

If you’re buying a retail franchise business, you’re going to need these.

Feet.

That’s right; you’re going to need a lot of foot traffic.

This foot traffic needs to start in the vicinity of your franchise business.

Because if you have foot traffic nearby, you’ll have an opportunity to convert it into your traffic. Your stores’ traffic.

Traffic = Revenue 

 

Research The Franchise Opportunity

It would be nice to know (before you buy the retail franchise of your dreams) if current franchise owners are getting it.

So, ask them.

(If they’re getting a decent amount of foot traffic)

Some of the franchisees will tell you that they are; some will tell you that they’re not.

 

Dig

Dig deeper into their answers.

Find out what’s impacting their foot traffic. Ask them if the franchisor does whatever it takes to make sure that they have the best chance to get decent amounts of traffic into their stores.

Ask the franchisees what some of things are that they themselves have done to increase store traffic.

And, if you end up buying the franchise that you’re interested in, refer back to your notes.

Those notes…the answers you got from the 10-15 franchisees that you called and visited, have some real gems that you can use in your franchise operation.

To grow it.

 

 

Traffic Tips

If you’d like to find out what retail business owners are doing to increase their store traffic, check out this post that I wrote for Small Business Trends.

Maybe there’s a gem or two you can use in your future retail franchise.

click franchise owner A Retail Franchise Buying Tip

Image courtesy of Wonderlane, on Flickr

It Needs To Be Multiple Choice

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(Courtesy of albertogp123, on Flickr)

You need to have choices. All of us do.

If you’re looking around for a franchise to buy, don’t make the mistake of only focusing on one.

Here’s why:

The franchise concept you’ve been obsessing over for months now may turn out to be a

33654171 eab9a4c2f7 n It Needs To Be Multiple Choice
(Courtesy of Boccaccio1, on Flickr)

Think about it.

All the hours you’ve spent checking out their franchise website…all the time you’ve been spending in your car-driving around to scout out possible locations for your new business…

And, all of those great daydreams you’ve been having about how your future franchise empire is going to look someday.

May turn out to have been a waste of time.

In other words, what if the franchise you’ve been thinking of buying turns out to be nothing even close to what you imagined it would be?

What if your role as The Owner involves a few things that you aren’t very good at?

Or, what if you find out-after doing great research, that it’s going to take a lot longer to make money than you originally thought?

 

Have Other Franchise Choices

If you only look at one franchise opportunity, you have nothing to fall back on if things don’t work out as you hoped they would. Plus, you will have nothing to compare it to.

You need some choices.

I talk about this topic more during my interview on The Small Business Advocate radio program that is now available for you to listen to at your leisure.

I also discuss my franchise outlook for the next 4 years.

Listen Now 

 

Search Franchises Here 

 

 

Five Security Measures New Start-Ups Need To Implement

5415856143 25bebebb06 Five Security Measures New Start Ups Need To Implement
 
There’s so much to do when you start a new business, but it’s important to implement security measures from the start. Everything from Trojan viruses to opportunistic thieves can threaten your company, so here’s how to keep everything safe.

1. Asset tag your belongings

If you’re looking to protect your workplace with some added security measures, you may have considered looking at some of the security labels available from asset tags providers. It has to be said; these small adhesives can improve the health and safety of your premises significantly and will sit neatly on a whole range of valuable equipment. The idea is you buy them in bulk, label your gadgets and scan the serial number into an asset tag based inventory management system. This will help you keep track of all items and will allow you to report anything that’s lost or stolen.

2. Set up burglar alarms

According to the latest police figures, published by the Office for National Statistics (ONS) for the first time, thefts from homes and other businesses went up by five per cent between 2010 and 2011. As a result of these worrying crime rates, it’s wise to buy an array of burglar alarms and CCTV cameras that’ll deter intruders. Position them near alleyways, car parks and entry points and always report anything suspicious. If you decide to buy a dummy CCTV camera, ensure it’s got an LED flashing light and a sliding sunshield for added authenticity, so that nobody can tell it’s fake.

3. Hire a consultant

When it comes to protecting your IT equipment, it’s a good idea to hire a consultant who will be able to find the best security solution for your business. Look for a consulting group with a Certified Information Systems Security Professional (CIISP) engineer and ensure they’ve a CompTIA Security+ Certification, as this proves they’re reputable. You’ll also need a company who provides antivirus installation and support, firewall installation, intrusion detection and security audits – so check which services they offer.

4. Back up data

As a new company owner, you must get into the habit of backing up your essential files, documents and confidential data. Losing client information or deleting spread sheets could prove disastrous, so burn information onto a CD-ROM, or save it to a second hard drive – and make sure your colleagues do the same. You can also copy crucial documents to a shared folder on your network (but make sure employees can’t see confidential facts and figures).
 
Affordable online backup for your small business. Only $59.00/year for unlimited backup. Try it free! Five Security Measures New Start Ups Need To Implement
 
5. Use the internet safely

A virus or a worm can cause serious damage to your computer, so browse the web sensibly. Don’t open unfamiliar emails and never download free screensavers from untrusted sites as these may contain malicious software. Start-up companies can be easily targeted by larger attacks (such as a mass worm break out) and can be easily hacked, so do all you can to keep your equipment clean and secure.

Starting a business is exciting! Now, do what you can to keep things safe. Hopefully the security measures mentioned above can do just that.

(Guest post from Matt Hornsby from whatishealthandsafety.co.uk)