There are thousands of franchise options to consider, so it’s hard to figure out which options might be your best fit.
To help you better understand the franchise landscape and start narrowing down your options, this is the second of 4 articles that will break down the Spectrum of Franchising, based on the operational criteria of each category. While there are always going to be a few exceptions, the vast majority of franchises will fit into one of these four categories.
Today, let’s look at Outbound Business to Business, Light Manufacturing:
- These businesses are location-based, but often don’t require triple-A retail, so they have a substantially lower rent cost; location sizes are typically in the 1500 ft.² to 3000 ft.² facility
- They are usually providing a blend of products and services. In many cases, these businesses are also “light Manufacturing” where they bring in raw materials and manufacture products for their customers; examples are sign companies and print shops;
- These businesses have a medium investment – from $150,000-$350,000; These are typically Monday – Friday B2B hours businesses.
How to get customers: There may be some inbound customer traffic because of the location, but there is also an ongoing responsibility to go out and engage prospective customers directly. So the role of the owner does include some ongoing selling and prospecting.
These are very good businesses if you have strong project management experience, strong communication and planning skills, and good networking skills. These businesses rely more on relationship building than on marketing, so people like this business because of that repeat business aspect. People also like that they can build and manage a small team of people with specialized technical skills. Staff are easier to find because of the traditional workweek hours.
Outbound Retail businesses are just one of the four structural options available. If you’re curious about exploring this or other entrepreneurial paths, I can help you focus on your best options. I’ve helped hundreds of people achieve success in franchise ownership, so I’d welcome a call to explore possibilities! Book a call now.
Originally posted on LinkedIn
