4 Ways to Evaluate Spaulding Decon Franchise Opportunities
You feel strongly about becoming part of the cleanup and restoration industry. In fact, you’ve been looking at several franchises, including what Spaulding Decon franchise opportunities have to offer. How can you determine if this is the franchise that you want to pursue? Look closely at the following and see what you think.
Take a Look at The Startup Costs
Any franchise is likely to have startup costs. Some have to do with local expenses associated with setting up the business. Others are focused on what you will need to pay directly to the franchisor in order to get the local business rolling.
Ask yourself two questions when you consider the average setup cost: can you afford the expense, and what do you get in return for the amount paid to the franchisor? If you’re satisfied with the answers to those two questions, then it makes sense to look into the opportunity a little further.
As Well as The Initial Franchise Fee
There’s also an initial franchise fee that will apply. That’s also paid directly to the franchisor and ensures you have access to training materials, the right to use franchisor branding, and a number of other benefits. Take a close look at the fee, and ensure you can make it without undermining the ability to cover the costs of starting up the franchise.
Remember that the initial franchise fee is a one-time thing. There will be other fees that must be paid to the franchisor, especially when the franchise begins to generate profits. Remember that you want to be able to cover this initial fee and have reserves to cover other fees as you build the business.
Think About the Cost of Supplies and Equipment
Supplies and equipment will be one of your ongoing expenses. The good news is that choosing to go for one of the Spaulding Decon franchise opportunities means that you can likely secure what’s needed at discounted rates. Think of how that would help to improve your overall costs and possibly result in more net profits.
Make sure you have an accurate assessment of what your monthly costs for supplies and equipment will likely be. This type of projection will help you determine if being able to keep within a reasonable operating budget is something that you can do.
Explore the Royalty Program
Take a good look at the royalty program and what it means for you. Is the royalty calculated using gross sales for the period, or is it based on net sales? Perhaps there’s a minimum royalty that applies even if the sales drop below a certain level.
Knowing how the program works in advance allows you to project income and expenses for the first year. That’s crucial since this is the time frame in which you will be building the business and securing your reputation within the community.
There are other aspects to consider before you decide whether this franchise opportunity is the right one for you. Weigh all the factors carefully, and make sure you can honor your obligations. If you feel good about the way the program is structured and think that this is something you can do successfully, contact the franchisor and get the ball rolling.