Thinking about opening a new franchise business can be an intimidating thought, but it doesn’t have to be with the right knowledge. We recently chatted with 17-year iTAN franchisee, Irina Kharsa, who gave us the ins and outs of opening a franchise business. Here’s what you need to know.
1. How do you decide on which franchise is right for you?
When deciding on which franchise is a right fit, think of your potential franchisor as your committed partner. Don’t hesitate to meet the corporate staff face-to-face, which can help you determine whether you have a true connection with them. Part of being a franchisee is seeking out companies with strong support systems.
You should also take into consideration whether their business model fits your budget. Costs can vary greatly from $10,000 to over a million. Review their revenue data and ask yourself, “Is their business model profitable?”
2. How do you apply for a franchise such as iTAN Franchising, Inc.?
Franchise application forms can commonly be found on franchisors’ websites. Upon filling out the application, be prepared to provide information about yourself. This can range from your previous business experience and financial capability.
As a cherry on top to your application, speak to your passion about the business you’re about to enter. Companies will appreciate a new franchise partner who shares their love for the industry.
3. How involved is iTAN Franchising, Inc. with its franchisees?
iTAN Franchising, Inc. treats each franchisee like family. They always go above and beyond to provide help and guidance whether that means being easy to reach or quick to respond. They are eagerly supportive of their franchisees in all areas. This includes IT, sales and training, customer support, local store marketing and more.
4. What tools does iTAN Franchising, Inc. provide for its franchisees to be successful?
From the get-go, iTAN franchisees are set for success. This can be attributed to preferred pricing with vendors and an expert corporate team. With iTAN’s in-house training portal, iTAN University, consistency in training and operations is a guarantee. iTAN also provides an extensive reporting system that allows franchise owners’ to closely monitor the success of their business.
5. What’s the day-to-day like for an iTAN franchisee?
A day in the life of an iTAN franchisee can vary from interacting with clients to developing strategies. For multi-unit owners, this may include managing their Salon Directors, reviewing reports by iTAN Franchising, Inc. and strategizing for future growth. Owner-operators, on the other hand, may find themselves serving clients, recruiting new team members, training and building relationships with the community.
6. What are the key benefits of owning an iTAN franchise?
When you join an established brand, such as iTAN, you gain peace of mind knowing salon owners are successful when the business model is followed. iTAN’s business model has been proven successful in highly competitive markets throughout California. They’ve crafted the ideal franchise plan to make a simple concept run with little overhead.
There is ample support through every stage of your franchise experience. iTAN franchisees benefit from help with lease negotiations, market analysis, new salon construction, existing salon conversion and other ongoing support.