Paul Crow, the MD of Ripples, gives his opinion on what helps to create a successful franchise business.
If you do your research you will see that there are a whole host of franchise business opportunities, it’s a lucrative market but ONLY when the franchise format is right. Ask yourself if the franchise is desirable to consumers, does it offer something that consumers of today will want, also try and understand the quality of the business you’re exploring. At Ripples I’d expect someone to look at the quality of our staff, our award winning designers and products. Finally, if the franchise formula works for you, then get to know yourself, understand your strengths and weaknesses too, would you work with the franchise business you’re exploring?
Operating in a network means that you generally benefit from substantial buying power. It’s important to look for a business with excellent margin opportunities. Ripples operate in an independent business sector but we buy as a group, this gives us access to the best brands and very desirable costs. Ripples franchisees consistently achieve gross profits of 50% (significantly higher than competitors).
Success doesn’t come easy but what will help create a successful franchise, are franchisees that have passion and are proud. What I can truly say about our team at Ripples is that we work together, are proud of the business and are passionate about what we do. I look at franchisees who are proud to demonstrate the skills of their design team to customers, who enjoy talking about the company and what we offer, the products we sell and are thrilled when they complete each and every project. We thrive on offering our customers impeccable customer service and that’s because the franchisees are dedicated and passionate.
One of the standout reasons to invest in a franchise is inevitably brand power. Opting to enter the market alone can be a daunting experience but relying on a well established, successful business means that you can harness the power of the brand that you decide to work with. After all, the brand is a company’s greatest asset and that’s what franchisees can benefit from. An individual buying a franchise business with Ripples, for example, will run their own business with all the values of a local business, but will sit under the umbrella of a consumer focused brand, a brand that is well known in the sector that it operates within. Ask about leads, online presence and PR success – all of these elements will indicate the success of a national brand.
Franchise businesses thrive in collaborative environments, those who decide to go down the route of owning a franchise will benefit from working with a head-office with in-house experts, at Ripples, we do just that, with marketing, finance and sale specialists we can offer franchisees support, every single step of the way.
It has been proven that often the best time to start a business is during tough economic times. That has never been more true for the bathroom industry.
Would I buy the franchise again? Yes! In fact I have 3 already.Colin Payne, Franchisee
Ripples franchisees have high margins because of our buying power. Much higher than the industry averages.Martin Hammond, Franchisee
Industry leading gross profit margins
Multi award winning franchise
Proven franchise model for 20 years