The Denmark-founded global leader in stylish furniture is a franchise to watch as it makes its U.S. introduction.
Choosing a franchise is one of the hardest decisions a prospective franchisee will ever have to make. Each concept highlights different pros, and each model has its cons. According to the International Franchise Association, the franchise industry is poised to expand another 1.6% throughout 2017 to a total of 744,437 different concepts. So, in a sea of options, how does any one concept stand out?
1851 Franchise connected with Steen Knigge, Director of U.S. Marketing for BoConcept, a global leader in modern furniture, to learn what the Denmark-founded franchise is doing to stand out in a crowded marketplace.
Making the buy-in worth it
“BoConcept is a valuable prospect for a number reasons, not least of which is the purchasing model,” said Knigge. “When a customer buys a piece of furniture, they pay 50% upfront and then 50% at delivery, creating a cash-flow-positive scenario. It’s rare that a franchisee will get cash upfront to use towards the business instead of all at the time of the sale.”
With a sales model that allows more cash up front, BoConcept franchisees have the ability to budget and invest down the line, instead of depending on sales as they come in.
Taking training to the next level
BoConcept has created one of the strongest franchisee support systems in the industry, making sure that the minute a new store’s doors are opened, it’s positioned for success.
“BoConcept University is an extremely strong training program. Because we’ve been in the business for several decades, we continue to adapt our HR department — now called People & Performance — to what works best. Everything we have in our training series is offered on a digital platform, and we stress that everything is interactive,” said Knigge. “When you start at BoConcept, you have everything you need from the first day and on. Franchisees can follow our detailed training step by step and know they are not going to head in the wrong direction.”
Limited competition in the space
Franchises are often lumped into the food or service sector, but BoConcept’s unique focus attracts franchisees with an interest in interior design and high-quality furniture.
“While most other brands will focus on a particular item category, BoConcept has a holistic focus; with the exception of kitchens, customers can furnish their entire house, including accessories,” said Knigge.
Detailed focus on the product
A good franchise model is wasted on a sub-par product. Ultimately, the most important aspect of the BoConcept offering is a high-quality product that a franchisee can stand behind.
“The product is excellent. “We have all types of configurations and everything is customizable, with many pieces being multi-functional, such as a dual-function coffee table that turns into a dining table. We are one of the few concepts that do what we do in the franchise space.”
With a unique franchise model, a robust franchisee support system and an exceptional product, BoConcept is ready to take the U.S. by storm. The company is rolling out a sweeping introduction, with 40 new stores opening in the main metropolitan markets. The brand is well-positioned to quickly become a household name in the U.S.