Hello
I am new to the forum, would like to gather some advice on expanding my business. I am in the health industry, and we provide pain management services such as low back pain, arm pain etc.
There are two options for my expansion.
1. Franchise
2. Chain
Franchise is less profitable, and the initial investment is minimal for the franchisor. I now only have one clinic.
My question is why would someone trust my brand name?? If I had 5 clinics sure, the quantity explains how successful I am doing. However I believe there is a beginning for every franchisor, starting from one towards many.
Chain business is more profitable, but investment cost is high, plus it is more time demanding compared to franchise. The risks are higher too. Searching for employees who are likely to stay more than 3 years is unheard of in my profession. As practitioners build their client base, they tend to leave.
How shall my thought process be at this moment, while I am deciding between Franchise and Chain? There must be some criteria that I must meet before even considering franchise.
My gut feeling tells me I shall start with chain, as I grow to 3 clinics, then I could promote my practice to possible franchisee’s/investors.
Your advices are valuable, thanks a million
I am new to the forum, would like to gather some advice on expanding my business. I am in the health industry, and we provide pain management services such as low back pain, arm pain etc.
There are two options for my expansion.
1. Franchise
2. Chain
Franchise is less profitable, and the initial investment is minimal for the franchisor. I now only have one clinic.
My question is why would someone trust my brand name?? If I had 5 clinics sure, the quantity explains how successful I am doing. However I believe there is a beginning for every franchisor, starting from one towards many.
Chain business is more profitable, but investment cost is high, plus it is more time demanding compared to franchise. The risks are higher too. Searching for employees who are likely to stay more than 3 years is unheard of in my profession. As practitioners build their client base, they tend to leave.
How shall my thought process be at this moment, while I am deciding between Franchise and Chain? There must be some criteria that I must meet before even considering franchise.
My gut feeling tells me I shall start with chain, as I grow to 3 clinics, then I could promote my practice to possible franchisee’s/investors.
Your advices are valuable, thanks a million
Aucun commentaire:
Enregistrer un commentaire