Question

Topic: Customer Behavior

$50k Franchise Name Versus Going Indpendent Store

Posted by Anonymous on 3/31/2012 at 10:22 PM ET 25 Points
Should I franchise OR do an independent Massage & Spa business in New Orleans area? I.e., Do I need a huge, established brand name to do well in this line of business? I can invest the franchise fees into my products making them higher quality than the franchises... What do you think? Brand Name versus Higher Quality w/Unknown Brand ?
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RESPONSES

  • Posted by Gary Bloomer on 3/31/2012 at 11:25 PM Accepted
    Do you know for a fact that there are there buyers, in this niche, in this market, for this service, at this time?

    Do you know for a fact that there are competitors, in this niche, in this market, for this service, at this time?

    Do you know for a fact that these competitors are actively and aggressively advertising in local press and that they are they doing so REGULARLY?

    Do you know that these ads have compelling offers and powerful calls to action to which your competitors have attached short life span deadlines?

    Are you familiar with and do you know the ins and outs of this niche, in this location? Do you have a solid, proven, bullet proof background in this niche or can you partner with someone who has a background in this niche that you can fashion into a passion that is obvious to your ideal client-base?

    If your answers to ANY of these questions are NO, pick another niche.

  • Posted on 4/4/2012 at 4:05 PM Accepted
    Don't underestimate the value of a franchise. It's more than just a name. As Randall and Gary have suggested, this is more about knowing your market and the SWOT elements, having a plan, and recognizing your own limitations than it is about the value of a name or the quality of your offering relative to competition.
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