So, you’ve decided to take on a new adventure in your life. You want to build a franchise business that can ultimately change your life, hopefully for the better.
But, where do you even start?
How do you choose?
And what are you even looking for in a good franchise opportunity?
All of these questions are most likely filling your mind; causing more confusion and stress than you could ever imagine. Your first decision is going to be figuring the type of industry you want to get into. Make sure that the establishment shares your passion and beliefs.
Once you figure that out, then there is a whole list of other factors that you have to consider. But let’s start with the industry and company. If you’re searching for something innovative—a company that gives customers something original and innovative to enjoy, then take a look at Drybar.
Drybar offers hairstyling services in a spa-like setting at off-site locations.
They constantly strive to be the best and serve their clients with the best.
Why focus on being the best at everything, when you can be the best at one thing and become the go-to business for it?
With Drybar, they concentrate on that. Their passion is incredible and I love how motivated they are to be the absolute best in the business. This is an exceptional place to start if you’re looking to get into a franchise business that takes credibility to a new level.
About the DryBar Establishment
When you try to be the best at everything, sometimes you set yourself up for failure. Focus on being the best at one thing and you’ll become the go-to person for that subject.
When it comes to being the best, Drybar knows what it takes. Instead of being like every other salon in the industry, Drybar chooses to focus on blowouts instead of the whole shebang. Which is a pretty awesome concept since everyone else is trying to do it all.
They’ve pretty much nailed it. It’s one of a kind establishment that has a growing list of clients. And why wouldn’t there be?
This type of establishment gives women a relaxing experience without all the extra bells and whistles. Wouldn’t you be thrilled to be a part of something like this?
I know I would.
Let’s begin the venture into finding out what this whole franchise opportunity has to offer and if it would even be worth it for you to get into it.
Details on the Franchise Opportunity
There are many things to take into consideration when deciding on a franchise business. And sometimes, there will be some major disadvantages to franchising a company.
By taking a look at the growth, we can determine if there is popularity with the opportunity or if people have been closing out their business.
In 2012, Drybar had a total of 8 running franchise outlets. In 2017, that number rose to 23. So while there may not be too many franchise outlets currently operating, there has definitely been some level of growth.
However, the growth alone will not indicate whether or not the business is healthy and operating smoothly. For that, we have to take a look at the turnover rate.
Drybar has a decently low turnover rate of 3.98. To understand the reasoning behind this turnover rate, you would need to ask the company detailed questions such as the reasoning of why the franchises closed down or if these close-outs were just non-renewals.
Drybar offers its franchisees a high level of financial transparency, which can be extremely helpful when looking into the data and details of the business.
The type of data you will receive is information on specific locations, historical sales data from previous years, average revenue info, and data on detailed expenses.
This is only one of the perks that you get when choosing to open a franchise with Drybar. Why would I say perks? Well because not every company provides this information to franchisees.
So you can consider this a definite advantage over other offers. A few other benefits to this opportunity would be the fact that Drybar provides computer and technical support, training on the job, and territory rights to your franchise business.
Let’s talk about money. Money talks, right?
But how much exactly are we talking here?
Overall, the entire business for Drybar is pretty expensive when you break it down. The initial franchise fee is marked at $50,000 and the total investment will be anywhere from $640,000 to $1.4 million. So yes, it’s a pretty extreme price. Especially when the initial term agreement is only 10 years.
I would have expected the agreement to be a little longer at this high of a cost. Although they don’t mention the price on renewals, you can renew your agreement at only 5 years at a time. But you’ll have to find out the pricing on it.
There will also be ongoing fees that you are responsible for as well. Ongoing royalty fee will be 7% of your gross revenue, while the advertising fees will be 1.5% of your gross revenue.
So after everything is said and done, you’ll be putting out a pretty penny with fees and investment. But this establishment is truly one of a kind so it may be worth it.
The Decision is Yours
The benefits of franchising a business can truly outweigh the negatives, as long as you find the right company that fits your needs and passion.
If you enjoy giving women a place to relax and enjoy a blowout salon service, then Drybar would be a great opportunity for you. This establishment, while pricey, has a great reputation and is a one of a kind service.
The company strives for perfecting one type of service and being the absolute best at it. When you have a company that is that committed, then you found something worth investing in. Especially if others have an interest in the establishment.
You can even receive discounts when purchasing more than one franchise outlet. Overall, it’s an excellent offer with a great company that respects their clients and receives the respect in return.
How To Earn 6- To 7-Figure Passive Income Through Lead Generation, A Scalable & Long-Term Business, Versus Franchising in 2019
I know it’s almost end of the year, however, it’s not too late to get started and earn your first few dollars passive income. Franchising business may be a tempting option you have right now, but let me show you why it’s preferable to start a lead generation business to ensure your steady income in the next few months.
Every small business needs high-quality customers to survive the tough competitions against the Giants in their industry. Because of the daily demands brought by their businesses, the small business owners don’t have time to learn more about online domination.
However, according to the latest survey, in the next year, there is an estimated number of 4.6 billion internet users using their smartphones to access the web for something to buy. In 2020, the number increases surpassing the 5-billion mark.
This means more and more people, their potential customers everywhere in the world, lurk around the web to spend their money on things the service providers can take advantage.
The problem is they don’t know how to position their selves in preparation for online marketing domination. They only have one website, one phone number, and perhaps one map listing.
Take a look at what happened to a few towing companies I helped before I took over. With the aid of the lead generation business I run, the client is satisfied with how much increase happened. The income raised to 10X with 15 map listings I created for them.
I have another client, actually my first lead gen site, for a Limo company in Lansing, MI. Through the lead gen site I created for around 6 hours, including the ranking on Google’s first page, I am earning $750 for 4 years now. That’s $36,000 for that site alone.
To date, I own 100 lead gen sites with $50,000 monthly in residual income. In 2019, I expected $600,000 annual income. And because I own a 95% profit margin, I own the entire amount. No more, no less.
How is this possible?
After I attended the lead generation coaching program, which my mentor Dan introduced to me, I earned the following of high value:
- High-Income Skills. The skill that gives me the capacity to earn millions quick without being too sales-y to my clients. The same skill that gives me the financial confidence to the point I’m not worried about losing my digital assets or robbed in a bank because I know I can earn my wealth again quick.
- Exact blueprint to the 6- to 7-figure income others mastered in their own lead generation businesses. Through the program, I quit my job of 3 years after a few months of hustling as a self-employed.
This is why I prefer the lead generation business more than any other business models out there because it offers scalability to new entrepreneurs. This group of people, like I was, don’t have enough $$$ to spend for an initial startup.
And at the same time, it promises long viability to both parties – you and your client – because the small businesses will continue to grow in population and the internet surely thrive for a long time.
On top of that, the ROI or the Return of Investment you’ll get is way beyond your expectation. If you’re laser-focused to your financial goals, there is no such thing as impossible when it comes to earning millions in residual income with working less (with great, rewarding value).