Once you’ve decided to become a franchisee, you have to choose a franchise to invest in. There are many factors to take into account. How comprehensive is the training program? What is the required investment? What are the pros and cons of the business model? In addition to these questions, it’s important to consider where your franchise is going to be located. Climate and geography are important factors that can contribute to your business’ success… or lack thereof.
Many franchisees open up shop in the city they already live in, which is ideal for franchisors who want to know that someone is able to keep a close eye on the business. But it means that you need to match your business to your region’s climate and geography.
Climate and Geography
So what businesses are going to thrive in your market? It depends. What makes your city or region different than others? Research shows that of the 10 cities that have the highest percentage of backyard pools, six of those cities are in the Phoenix-Mesa-Glendale metropolitan area of Arizona. Sun Devils are much more likely to spend money on pool maintenance than those in other states. Sweltering heat for much of the year means there is potential for pool-based franchises to succeed year-round.
Even if you aren’t in the Grand Canyon state, think about what businesses would work well in your climate. How many months of snow do you get? Cooler climates have many opportunities to build successful franchises. Things like snow removal, indoor exercise options, and artificial tanning are much more appealing in wintry weather.
Does your hometown get all four seasons? There are home service franchises that cover everything from winter snow removal to summer lawn care. Make the most of your geography to pick a franchise that maintains profitability throughout the year.
Check out the website for your local Chamber of Commerce. Look at the types of businesses that have been successful. What do they have in common? Can you choose a franchise that has a fresh angle on a proven industry? Looking at the records of previous businesses is a good way to know what has worked where you live but be sure that your market isn’t already saturated with the type of business you plan to open. Also, be sure to look back a few years to explore what businesses have not succeeded in your area.
Do the Research
Also explore the franchise websites of the franchises you’re considering. Many of them will have maps, or listings, of the markets that are growing and those that have already been successful. Your region might be primed for a particular franchise and the franchisor has already conducted a lot of the research to determine its potential in your territory.
Flexibility is one reason many choose the franchisee lifestyle. They don’t want to be tied down to specific hours or a specific location. Even if you choose to run your franchise from a distance, it is important to understand the geography and climate of your franchise.