Kitchen franchises are highly profitable businesses operating within a competitive sector. In this lucrative industry, running a kitchen franchise is a fantastic way to maximise the benefits and minimise the hurdles. Here are 4 tips for running a successful franchise.
There are few more profitable industries to be involved with than the kitchen industry. There are many individual and sole trading kitchen businesses who work in this sector, but the franchise business model remains the most secure, with only 1% of franchises in 2018 citing commercial failure as a reason for closing [British Franchise Association].
Running a successful business in this profitable industry can sometimes be tough. You’ll need to stay ahead of your competition, recruit the right members of staff, and market your business in an effective way. Here are 4 key tips for running a successful kitchen franchise.
Why become a franchisee in the kitchen industry?
Running a franchise in the kitchen industry is highly desirable and potentially profitable. In 2019, the market size for kitchen fittings, repairs and maintenance services was £4.4 billion, after rising consecutively year-on-year.
Though the pandemic has led to a slowdown in these services over the short-term, this is a market that will soon be on the up once again. So much so that many kitchen fittings companies are seeing a strong rebound already [Trend Monitor].
How to run a successful kitchen franchise
In what is a competitive and sometimes difficult sector to work in, there are a number of key things you’ll need in order to run a successful kitchen franchise.
1. Ensure your marketing strategy is up to date
Your marketing strategy could be the difference between a successful business and one that fails. You will need to make sure that your strategy is targeting the right customers, sending the right messages, is easy to understand, and is efficient.
When marketing your kitchen business, things to consider are:
- Is your business better suited to online marketing or offline marketing?
- Is your online identity up-to-date and accessible?
- Is key information easy to find?
- Are your responses quick and helpful?
- Are you on top of the latest marketing trends?
Marketing is a varied and fast-moving skill that you’ll need to stay on top of if you want to keep your kitchen business at the front of the marketing pack. While there are always going to be new marketing trends for you to adapt to, staying on top of the essentials will make sure awareness of your business stays high.
2. Make use of franchisor training and support
One of the biggest advantages to being a franchisee is that you’ll have a tried-and-tested, well-established franchisor supporting you all the way. Before and after you open, you’ll have plenty of support given to you and your employees, all designed to help give your business a cutting edge over your competition.
It might seem obvious, but every successful business makes use of all resources available. Your franchisor will have been operating in the kitchens industry for many years and will be prepared to help you learn as much as possible in order to keep the franchise running efficiently.
The best franchisors are huge advocates of training and invest heavily in it. Even though the training conducted by newer franchise companies is often fairly informal, the best new franchisors make it a priority to develop more formal programs as soon as possible.
– Mark Siebert, Entrepreneur
3. Recruit like-minded team members
Your business is only as strong as the staff running the business. Everyone you recruit will need to be the right fit for your business, share the right values of the business, and be prepared to be good representatives of the franchise as a whole.
Recruitment can be a tricky thing to tackle and that’s why many franchisors have dedicated recruitment specialists who will be on hand to help you out. You should check with your franchisor what processes are in place to help you with recruitment, as having the right team members is a necessity for running a successful business. Things you will need to consider when recruiting include:
- Work ethic
4. Prioritise your customer experience
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Customer experience is something you’ll need to consider both online and in-person. Driven partly by the pandemic, many businesses have been forced to adapt to new, integrated marketing strategies such as omnichannel marketing and customer service. While online and bricks-and-mortar stores operated slightly differently and independently from each other, now these parts of a business will most often work in tandem.
The reason being is that the customer journey is much smoother, in turn meaning that customer and user experience is an essential part of the service. Better customer service means a better chance of gaining new customers and retaining old ones.
Run a kitchen franchise today and run a profitable, exciting business
The kitchen industry is set to bounce back in style after a challenging few months, meaning that many franchises will be looking for new and ambitious franchisees to take their businesses forward. You could be the ideal franchisee for a busy and exciting kitchen franchise.
If franchising seems like the right business model for you, but you would like to explore opportunities in other sectors, you can see a full list on the UK franchise directory.
Elliott Fudge, Point Franchise ©