Franchises are similar to most other local businesses but have some major advantages. Unfortunately 90% of all new businesses fail within the first five years of operation. In order to be successful business owners need to be focused, driven, work a specific plan and be able to be flexible with it. A home care franchise provides some unique opportunities and advantages for success. Build upon the ideas below to develop your own strategies in order to run a successful home care franchise. The 5P Plan
“Proper planning prevents poor performance” is the 5P axiom to live by in small business. If any business is going to succeed it needs to have proper planning in order to have a focus including short and long-term goals. This planning should include proper marketing plans and financial targets. These are the two most important plans to develop in order to have a successful business. Even small businesses need to market their services in order to develop clientele. With the variety of marketing available today including internet, digital and traditional marketing small businesses need to custom tailor their marketing to reach their niche market often on shoestring budgets. Being creative and using all available free resources for marketing efforts should be considered. Establishing clear and defined sales goals and targets along with activity targets will enable consistent daily efforts to bring in sales. Relying on franchise support is a given.
Since in-home care is a service everything you plan or do in your business should be customer service oriented. Clients tend to judge your company on their first perceptions of service. The saying you never get a second chance at a first impression is true in business as well. Ensuring that your phone is answered by a live person may be one of the most important small business strategies employed for success today. People are tired of dealing with machines and older clientele prefer the personal touch of immediate contact. Make sure you and your employees exhibit perfect customer service habits in order to ensure happy customers. Satisfied customers are repeat customers.
Small business franchises need to reach out to the community in order to develop long-term relationships and cultivate client networks. Although a franchise can provide instant recognition for brand and service levels, networking effectively will provide a full sales funnel for consistent revenue. This networking can take shape in many ways, including volunteering time in appropriate nonprofit organizations that prove your ability as an expert in the field. Contacts in these associations and organizations will come to rely on your advice and eventually your business. By giving back to your community, doors will open in other ways that will help support your business. Networking your business is also important by attending seminars, giving public speeches and developing contacts in different healthcare professions. Attending at least one networking event per month for a minimum of 10 months in a year will provide a consistent touch point with relevant contacts in the industry and cultivate long-term relationships.
These three strategies for running a successful home care franchise have been proven to increase revenue and brand recognition while also cultivating long-term relationships that can mean the long-term success of your business.