If you’ve decided to invest in a franchise business, it’s natural to want to launch ASAP. The prospect of signing contracts, building out your location and starting to generate leads is exciting—and the sooner you make sales, the sooner you can see a return on your investment! But opening a franchise doesn’t happen overnight.
Fortunately, there are several ways to streamline your franchise launch process to ensure you open quickly. By getting your affairs in order ahead of time and choosing a quick-to-market business model like SpeedPro, you’ll be able to open and grow your business in no time.
SpeedPro’s Streamlined Buildout Process
One of the main things influencing how quickly a franchise can open is the business you invest in. At SpeedPro, we pride ourselves on our efficient discovery and buildout processes that help Studio owners get to opening day in around 100 days.
Step one is the SpeedPro Discovery Process, which is conducted in eight simple phases. Over the course of 60-90 days, you’ll learn everything you need to know about the SpeedPro franchise system, determine whether the business is a good fit and prepare to sign the Franchise Agreement.
Once the paperwork is signed, you’ll start the process of actually opening your Studio. Our Onboarding and Training teams will help you find a location in your territory and learn how to operate your SpeedPro business day to day.
The actual buildout of a SpeedPro Studio is extremely efficient—usually lasting 30-60 days. Our Studios utilize an open floor plan, minimal office space and a robust startup package that includes all the equipment and materials you’ll need to print with on Day 1. But new SpeedPro franchisees don’t even need their Studio to be open to begin generating revenue. Through our Buddy Studio program, you’ll network, find leads and partner with a nearby franchise location to fulfill orders while your Studio is under construction. Yes, you read that correctly! The Buddy Studio programs enables new SpeedPro owners to generate revenue BEFORE the actual Studio is open.
Steps to Maximize Launch Speed
Over the years, SpeedPro has curated the franchise experience to be as simple and seamless as possible for new Studio owners. Yet, there are several things you as a franchisee can do to streamline the process even further.
- Franchise exploration: One of the most critical steps in opening a franchise is choosing the right business model for you. Spend time researching franchise systems that align with your goals, interests and financial capabilities before you begin a business’s discovery process. This will ultimately help you save time by avoiding conversations with franchises that aren’t a good fit for your lifestyle or goals.
- Pre-launch research: Once you’ve selected a franchise system, it’s smart to go in with a plan. Do some preliminary research to assess market conditions, competition and customer demand. Analyze local demographics, economic indicators and consumer preferences to identify potential opportunities and challenges. This information will help you find territories where you can succeed and tailor your business strategy once you open.
- Financing plan: Having a plan for how you’ll fund your franchise can make the launch process much faster once it’s time to pay fees and begin your Studio buildout. Consider the financing options available to you, such as bank loans, SBA loans, 401(k) Rollover as Business Startups (ROBS) or cash savings. Your franchise onboarding team can help you explore these options later in the process, but it helps to have a preliminary idea of what your budget, expected expenses and financing plan might be going in.
- Onboarding team collaboration: Don’t forget that you have tremendous resources in the people guiding you along your franchise journey. SpeedPro’s experienced Onboarding team will provide valuable guidance and support throughout the discovery and buildout processes. Using their expertise, you can navigate challenges easily and accelerate your time to market. Open and honest communication will be key in ensuring your needs are met and keeping the buildout process on track.
At SpeedPro, we understand how exciting the franchise investment process can be, and we want you to open your Studio as fast as you can! That’s why we’ve developed the most efficient, time-sensitive processes possible to help franchisees launch quickly. Through some advance planning, you can make sure your franchise journey is as quick, easy and as fulfilling as it can be!
Ready to get started? Reach out to the SpeedPro franchise team today to learn more and begin your path to business ownership.