How to Open a Franchise | How To Open A Franchise
How To Open A Franchise in Chattanooga, TN
Looking to invest in a thriving industry? Consider opening a franchise with Floyd's 99 Barbershop, a leading national chain that offers an amplified experience beyond just a haircut.
Here's how you can open a franchise with Floyd's 99 Barbershop and be a part of the 64 billion hair care industry.
Why Choose a Franchise
- Join a Thriving Industry: The hair care industry is valued at 64 billion as of 2024, making it a lucrative investment opportunity.
- Proven Success: Floyd's 99 Barbershop has excelled at consistently providing high-quality hair care services, carving out a differentiated spot between discount cut-shops and high-end salons.
- Established Brand: As a franchisee, you'll benefit from the established reputation and brand recognition of Floyd's 99 Barbershop, giving you a competitive edge in the market.
- Support and Guidance: Franchisees receive comprehensive support and guidance from the corporate team, including training, marketing assistance, and operational support.
Steps to Open a Franchise
1. Research and Evaluation:
- Explore the Market: Start by researching the hair care industry in Chattanooga, TN, to understand the local demand and competition.
- Financial Evaluation: Assess your financial situation and determine the initial investment required to open a Floyd's 99 Barbershop franchise.
2. Contact the Franchisor:
- Initiate the Conversation: Reach out to Floyd's 99 Barbershop to express your interest in opening a franchise and request detailed information about the process.
- Attend Discovery Day: If available, attend a Discovery Day event to meet the corporate team, learn more about the franchise opportunity, and ask any questions you may have.
3. Review the Franchise Disclosure Document (FDD):
- Understanding the Terms: Carefully review the FDD provided by Floyd's 99 Barbershop, which contains important information about the franchise agreement, fees, and obligations.
- Seek Legal Advice: Consider hiring a lawyer with experience in franchise law to review the FDD and provide professional guidance.
4. Secure Financing:
- Financial Planning: Explore various financing options, including bank loans, Small Business Administration (SBA) loans, or other funding sources that align with your financial plan.
- Establishing Relationships: Build relationships with potential lenders to secure the necessary funding for your franchise investment.
5. Site Selection and Build-Out:
- Location Considerations: Work with the corporate team to identify a suitable location for your Floyd's 99 Barbershop franchise in Chattanooga, TN, considering factors such as foot traffic and demographics.
- Build-Out Process: Collaborate with approved contractors and vendors to execute the build-out of your franchise location according to Floyd's 99 Barbershop's branding and specifications.
6. Training and Operations:
- Training Program: Participate in the comprehensive training program provided by Floyd's 99 Barbershop to learn about operational protocols, customer service standards, and business management.
- Staff Recruitment: Recruit and hire a team of skilled barbers and stylists to deliver the high-quality services that Floyd's 99 Barbershop is known for.
7. Grand Opening and Marketing:
- Grand Opening Event: Plan and execute a memorable grand opening event to attract customers and generate buzz in the local community.
- Marketing Support: Utilize the marketing support provided by Floyd's 99 Barbershop to implement effective promotional strategies and drive customer engagement.
Barber Shop Franchise
Opening a franchise with Floyd's 99 Barbershop is an exciting opportunity to be part of a thriving industry and an established brand. By following these steps and leveraging the support provided by the corporate team, you can embark on a rewarding journey as a franchisee in the hair care sector.
