Although every candidate has different goals and dreams, there are some common threads brokers can use to help every candidate select a great business. We interviewed our top-performing consultant to find out how and why he refers Gotcha Covered to all of his qualified candidates. The answers will not only illuminate our opportunity but will also give you discussion points for any candidate with any franchise system.
First, the franchisor is in an industry with great macro factors to reduce risk for my clients. The window covering industry is one of those industries. It provides a product every home and business requires – high demand. It is not subject to technological disruptive forces – tech proof. It is a low-cost, home-improvement solution that creates steady demand in all economic environments – recession tolerant.
Secondly, I look for franchises that have simple, clear-cut models. Launching a business is challenging enough. Gotcha Covered owners do not have to worry about hiring, training and firing staff – no staff required. They do not have to worry about finding a location, wrestling with locational factors impactful to their business and negotiating with landlords – no site required. They do not have to worry about getting inventory right for their market and the constant fire sales to rebalance inventory – no inventory required. They do not have to manage lots of annoying paperwork and time-wasting, back office stuff – integrated IT platform from sale to delivery.
Thirdly, I look for good unit economics and the opportunity to generate strong revenue, gross margins, and net profit. Gotcha Covered is a high-demand, high-margin with costs taken out of supply and delivery chain, and strong profit margins, a result of simple business model with few expense line items. The flat-fee royalty structure is also a real incentive and profit contributor to great operators. The higher the revenue the lower the effective royalty percentage – the franchisee keeps more of what they sell.
Fourth, I look for franchises that have multi-revenue channels in consumer and commercial sectors. This allows franchise owners to fully capitalize on both markets to build a robust business. It also helps maintain a steady revenue stream with swings in the economy, since both sectors are often affected differently by economic factors.
Fifth, I look for low-investment franchises that appeal to the full risk-tolerance range of clients. My philosophy with all clients, regardless of net worth, is to find the right fit for the least investment. Gotcha Covered meets this standard. Few clients are comfortable with outbound prospecting and a feel a great risk in having to do this. These clients need to find fit in a marketing-driven franchise concept. However, aspiring franchise owners who do not feel comfortable with prospecting often gravitate to retail, bricks and mortar franchises that frequently breaches their investment level and introduces another risk. Gotcha Covered is a terrific low-cost alternative solution for those that need a business that is not about door knocking. Rather, it is driven by effective marketing and community networking strategies, strategies that introduce the client to the owner, is not about door knocking and yet, does not required the high investment of traditional retail models.
Finally, I look for great franchisor leadership, strong support and training, and a franchisor culture that is team-oriented. Gotcha Covered excels in all of these. Leaving corporate and going into business for oneself is scary stuff. I tell all my clients at the outset of their research, the process is about finding the ‘right platform’ and as important the ‘right partner’. Clients who enjoy a strong, supportive relationship with the franchisor reduce the fear they feel embarking on this big transition. My experience with almost all my clients and those who acquired a Gotcha Covered franchise enjoy a supportive culture, and the leadership at Gotcha Covered was as impactful to their decision to move forward with Gotcha Covered as was the business opportunity.
About the Gotcha Covered Franchise
A Gotcha Covered franchise provides a lifestyle business with extraordinary profit potential through high margins and low operating expenses, all within a very cash-flow friendly model.
Utilizing our powerful and proprietary design software, our franchisees sell virtually everything for the interior of a window, both for the residential and commercial markets. Our extensive offering includes blinds, shades, shutters, window film, and fabric treatments such as draperies, curtains, swags and cascades, covering hundreds of custom window treatments and accessory options.
A Message from the President
Think of me as a resource to answer any questions you may have about how we like to do business. Feel free to call at 720.407.8618 or 800.200.0835 x331. You can also email me directly at email@example.com
I look forward to hearing your thoughts.