Franchise Times Zor Awards
Which franchise is best for you? We describe three types
The type: Healthcare practitioners, from chiropractors to physical therapists and beyond, often enjoy providing care but dislike insurance and regulation, and turn to franchising.
Franchises that fit: Look for brands with well-developed systems to handle the above, especially regulation that varies state-by-state, and strong brand names.
The pluses: A health-related franchise will likely command better real estate spots and attract more consumers than an independent, at least after enough units are sold.
The pitfalls: This industry is experiencing the new gold rush of franchising, like restaurants did decades ago, and only some of those brands will ultimately be successful.
Advice: Talk with multiple franchisees to examine the business model before signing, especially the number of clients one provider can see in a day and what that means for profits.
In real life: Liz Olson, our model, is office manager and audience development guru at Franchise Times, where she keeps our circulation numbers strong and growing.
The Zor Awards
The type: Many people who love animals look to pet care franchises as an excellent way to turn their passion into profits.
Franchises that fit: Dog daycares are booming, with brands ranging from high-end “hotels” for dogs to rustic pet playgrounds, as are mobile services and pet-focused retailers.
The pluses: That’s an easy one for pet enthusiasts: You get to play with dogs (and at some franchises, cats and other furry friends) all day, and build a community.
The pitfalls: Some top lines just aren’t big enough to sustain an operator, and there’s also A LOT of physical and dirty work—aka dog poop, everywhere.
Advice: Plan to be engaged with the community, so everyone knows about the franchise and it becomes a gathering place. This goes for many kinds of retail brands, of course.
In real life: Xavier Brantley-Schauls is a model with a sharp fashion sense, an aspiring filmmaker and a server in one of Minneapolis’ hot spots, Hell’s Kitchen.
The type: Many mid- or late-career execs get sick of working for the man, or are relieved of their duties by the powers that be, and strike out on their own.
Franchises that fit: Big operations with real estate requirements like restaurants or educational franchises can make use of well-developed skill sets.
The pluses: Execs who had broad responsibilities often have great command of the big picture, and decades of expertise.
The pitfalls: Former C-level officers often get used to fat salaries, sumptuous perks and large staffs, and they won’t see those heights for at least a few years, if ever, as a franchisee.
Advice: Figure out your strengths and weaknesses, and then find business partners or employees who fill your gaps.
In real life: Our model, Jeff Amann, is COO for Welcov, a multi-state healthcare provider, and not coincidentally, the husband of FT’s editor-in-chief. (Thanks, Jeff.)
Norman is an Australian Shepherd and Border Collie mix who surprised his parent, Tom Kaiser of Franchise Times, by being a perfect supermodel at the photo shoot for the Zor Awards. Good boy, Norman!