After working with over 300 online projects , I can guarantee: monitor these metrics weekly and your company will not only survive, but also increase its profits by 10 times!
In the context of sanctions and crisis, knowing the ROI of your advertising decides whether your business will be successful. Tracking these 5 critical indicators is the key to your prosperity.
What you get for free:
5 Key Metrics to Increase Profits by 220%
The Secret ROI Formula: Instant linkedin database Advertising Efficiency Calculator
Anti-crisis Solutions Matrix: Find the Perfect Strategy for Your Business in 15 Minutes
We have prepared all the documents and templates with formulas for you. And yes, it is FREE:
Download documents for free
Already downloaded
153345
But it is precisely thanks to legal norms that the franchisee should be at ease: he is the owner of his company, a legal entity, and this must be confirmed by the appropriate legal procedures.
As for the socio-psychological aspect, it is worth mentioning a traditional problem for Russia - disregard for intellectual property. This issue requires a solution at the state level: it is necessary to develop economic and legal measures of influence, thanks to which the use of someone else's intellectual property will not bring any effect.
Working under a franchise is an ideal solution for beginning entrepreneurs who do not know how to run a business, but want to develop in the beauty industry, learn from an experienced, recognized and financially successful mentor.
At the same time, the owner of a beauty salon has the right to undergo an internship in operating departments and to obtain support both at the project development stage and at the business promotion stage.
What is better: a beauty salon franchise or a business from scratch
If you have your own developments and start-up capital, the best option is to start a business from scratch. This is more difficult, since you need to collect documents and obtain permits, but there are no lump sum payments or royalties.
The payment amounts in the franchise system are quite large, and this is a minus. But the plus is that all the documents are already drawn up - from taxes to certificates and permits. In addition, the franchisee receives products and inventory and even repairs in the beauty salon.
Beauty salon franchise
So, the disadvantages of self-promoting a business:
lack of clients, since few people know about the beauty salon;
difficulties in managing the company's employees due to the lack of appropriate skills;
difficulties in finding competent specialists;
difficulties with accounting and bookkeeping; staff turnover;
the threat of clients being poached by other beauty salons.
Of course, these problems can be avoided. But if the beauty industry business is something new and incomprehensible for the salon owner, then it is quite possible that he will not be able to work under a franchise.
Now let's look at the benefits of opening a beauty salon under a franchise.
Franchising allows you to save resources.
You invest 30 percent less in construction and repairs, save up to 40 percent on purchasing equipment at a partner discount and up to 50 percent on investments in marketing activities.
Some brands form a base of loyal contractors who provide discounts, which the franchisee will also receive. You will be able to buy cosmetics for your beauty salon 10-15 percent cheaper, and this is despite the fact that suppliers rarely provide discounts to anyone in principle.
Attracting customers is cheaper.
If an independent entrepreneur spends 100 rubles to attract one client, then a franchisee will spend from 50 to 70 rubles. He can save up to 50 percent on advertising, since the franchiser, at his own expense, conducts mass promotions that work to promote the brand and the entire network as a whole.
You are only locally promoting the brand in the microdistrict where you opened your beauty salon under a franchise agreement.