Owning a business is tough; investing in a franchise, however, brings rewards. If you are asking yourself what the financial, community, and team goals should be for a first-time franchise partner to best set you up for long-term success—then here are three key areas that require attention during the initial stages of operation.
Finances: Every franchise has its own investment requirements. After meeting those, you’ll need to budget for initial capital investment, working capital, royalties, and marketing fees. When making the decision to invest in a franchise, ask to see other franchise partner projections to use as a guide, along with your own market research.
Community: Is there an existing demand in the community in which you plan to buy a franchise? If so, what available locations align with the demographics? Demand for healthcare is high across the country but areas with aging populations could also be a consideration in the case of healthcare staffing. The more you observe and learn by asking community members about their needs, the more information you’ll be armed with to make informed decisions.
Team: It is important to have a steady stream of recruitment efforts at all times. Be proactive about this. Job listings, social media, and everyday community interactions can all be ways to find the right people. Additionally, existing team members themselves may be a great resource. Their friends may have similar job needs and they’ll work well together.
ATC Healthcare was named a Top 100 Global Franchise by Franchise Direct and serves more than 65 territories nationwide. Interested in learning about the benefits of owning a healthcare staffing franchise? Visit www.atchealthcare.com/franchising or contact firstname.lastname@example.org for more information.