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Franchise brands across the globe are collectively feeling the impact of the coronavirus crisis. Regardless of industry or segment, brands have been forced to pivot their operations and find new ways of doing business seemingly overnight. However, just because brick and mortar locations are temporarily closed doesn’t mean now is the time to stop searching for a business ownership opportunity. In fact, industry experts say that it is a better time than ever to start preparing for that transition or portfolio expansion.<a href="https://www.facebook.com/1851magazine/videos/158395088779990/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-industry-leaders-discuss-why-hand-stone-massage-and-facial-spa-is-the-right-business-ownership-opportunity-to-consider-right-now-2712797" target="_blank" rel="nofollow">On a webinar hosted by 1851 Franchise</a>, <a href="https://www.benetrends.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-industry-leaders-discuss-why-hand-stone-massage-and-facial-spa-is-the-right-business-ownership-opportunity-to-consider-right-now-2712797" target="_blank" rel="nofollow">Benetrends Financial</a>’s Chief Development Officer, Eric Schechterman, explained why waiting until the other side of the crisis to invest in a franchise puts candidates interested in expanding with a brand like <a href="https://handandstonefranchise.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-industry-leaders-discuss-why-hand-stone-massage-and-facial-spa-is-the-right-business-ownership-opportunity-to-consider-right-now-2712797" target="_blank" rel="nofollow">Hand &amp; Stone Massage and Facial Spa</a> behind.“I will absolutely say now is the time,” said Schechterman. “If you wait until you can say, ‘Okay, it looks like everything’s good,’ you’re going to have existing Hand &amp; Stone owners that just bought up four or five locations that aren’t there for you anymore. There will be many businesses looking to do the same with other franchise brands. Now, there will be an entire industry of people that want to put their fate in their own hands.”The possibility of new or existing franchisees buying up territory at a rapid rate isn’t the only reason to invest in <a href="http://1851franchise.com/handandstone/">Hand &amp; Stone</a> right now. Real estate also plays an important role. Signing on to become a franchisee enables candidates to begin the hunt for the right location so that leases can be signed and spas can be built out to open up nine or so months down the line. The current economic shift also puts tenants at an advantage with landlords and creates a positive environment for <a href="https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-industry-leaders-discuss-why-hand-stone-massage-and-facial-spa-is-the-right-business-ownership-opportunity-to-consider-right-now-2712797" target="_blank" rel="nofollow">small business loans</a>.“As we transition out of this pandemic, we fully anticipate a shift in commercial real estate much like what we saw back in 2012 when it became a tenant market,” said Kris Smith, Vice President of Real Estate Development for Hand &amp; Stone. “The ability to find the ‘A’ real estate at a more affordable cost is something we are absolutely anticipating. We’ve never really struggled to find real estate opportunities for Hand &amp; Stone. We’ve always been welcomed by the real estate investment trust companies of the world and local landlords because they love our brand and the type of clientele we’re bringing into their centers. Basically, they love that we’re a clean and quiet tenant. We anticipate that to certainly continue.”With spas closed, franchise brands like <a href="https://1851franchise.com/handandstone/hand-stone-showcases-exceptional-support-for-franchise-owners-allowing-it-to-continue-to-hold-its-high-ranking-in-the-industry-2712245#brand-latest-stories">Hand &amp; Stone are using this time to enhance their already strong franchisee support systems</a>.&nbsp;“From a franchisor’s perspective, the support you’ve always given to your system is more imperative than ever,” said Rocco Fiorentino, Franchise Practice Lead at <a href="https://keyserco.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-industry-leaders-discuss-why-hand-stone-massage-and-facial-spa-is-the-right-business-ownership-opportunity-to-consider-right-now-2712797" target="_blank" rel="nofollow">Keyser</a>. “[Franchise brands are] all learning how to do business in a different way. So, that’s going to change the way we operate in the future. It will make us smarter and much more efficient.”In addition to improving efficiencies, the other side of the coronavirus crisis is also going to provide prospective franchisees with something that’s been missing in the massage industry for a few years: a strong labor pool.“A franchise like ours now has an unbelievable opportunity from a personnel perspective,” said Bob McQuillan, Vice President of Franchise Development for Hand &amp; Stone. “Every business has a challenge, and over the last three or four years, the main challenge for us has been finding great labor because there were not many people unemployed. Now, this will likely offer us something we haven’t had in a while, which is a surplus of massage therapists and estheticians to draw from.”By preparing for the future now, prospective business owners have the opportunity to get ahead of the game. And according to McQuillan, Hand &amp; Stone is ripe for success. “When we come out of this, we feel there is no end in sight for this company,” he said. “So really, it’s tough to say it, but now is the time.”<a href="https://www.facebook.com/1851magazine/videos/158395088779990/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-industry-leaders-discuss-why-hand-stone-massage-and-facial-spa-is-the-right-business-ownership-opportunity-to-consider-right-now-2712797" target="_blank" rel="nofollow">To watch the full webinar, click here</a>.The total cost to open a Hand &amp; Stone Massage and Facial Spa ranges from $532,563 to $618,327, including the franchise fee. For more information on available franchise opportunities with Hand &amp; Stone Massage and Facial Spa, visit&nbsp;<a href="https://handandstonefranchise.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=franchise-industry-leaders-discuss-why-hand-stone-massage-and-facial-spa-is-the-right-business-ownership-opportunity-to-consider-right-now-2712797" target="_blank" rel="nofollow">https://handandstonefranchise.com/</a>.

Franchise Industry Leaders Discuss Why Hand & Stone Massage and Facial Spa Is the Right Business Ownership Opportunity to Consider Right Now

1851 Franchise

https://www.youtube.com/embed/YcNA2fuIwAs

On a webinar facilitated by 1851 Franchise, executives from Hand & Stone, Benetrends Financial and Keyser explored why now is the right time to get started as a franchisee in order to be better positioned on the other side of the coronavirus crisis.

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How much can franchisees make? It’s a question many prospective owners ask before investing in a franchise. While earnings tend to be driven by variables such as industry, location and general management skills, a proper understanding of the key factors driving profitability can help franchise owners develop expectations that are realistic.&nbsp;Multi-unit franchisee&nbsp;<a href="https://www.linkedin.com/in/mangesh-patel-9368569/">Mangesh Patel</a>, who’s readying the launch of six&nbsp;<a href="https://www.beefobradysfranchise.com/">Beef ‘O’ Brady’s</a> restaurant locations in the Macon, Georgia area, shares insights from his franchising experience.<h2>Understanding Franchise Income</h2>Keeping operational costs in check can have a major impact on overall earnings. Taking a proactive approach to expenses such as food and labor, as well as payroll and scheduling, can help align actual franchise income with general expectations for the business.“I just had a meeting with a couple of people, and they said, ‘You talked about a 25% profit margin, but I’m only doing 12%.’ So, I looked at the figures they sent me,” Patel said. “Their&nbsp;<a href="https://1851franchise.com/calculate-restaurant-franchise-profit-2730476">restaurant</a> food cost was running at 37%, which should be around 30%. The national average is about 32%. If I do things correctly, my average food cost needs to be at or below 30%. And payroll should run around 18%. But many people run 25 to 28%.”So,&nbsp;<a href="https://1851franchise.com/unraveling-franchise-earnings-how-much-can-you-really-make-2723935">how much can franchisees make</a>? Here are five areas to consider.<h2>Practical Tips for Prospective Franchisees</h2><ol><li>Control Costs From Day One:&nbsp;It’s important to monitor payroll, food and supply costs closely. Overstaffing and inefficiencies can quickly reduce profits.</li><li>Plan For The Opening Surge:&nbsp;Traffic within the first few months of opening is likely to be higher. It’s important to adjust staffing and inventory accordingly, and pay close attention to how those levels change as time goes on.</li><li>Invest In Training:&nbsp;Properly trained workers can help reduce waste and improve overall service, which has a direct effect on net income.</li><li>Understand Your Market:&nbsp;Each market is unique and revenue potential will vary depending upon location, demographics and competition.</li><li>Track Metrics Regularly:&nbsp;Food cost percentages, labor ratios and weekly sales data act as key indicators operations may need to be adjusted.</li></ol><h2>What Profitability Really Comes Down To</h2>Patel notes that if franchise owners manage labor and costs properly, it’s not impossible to achieve strong cash flow even in the first year, bucking some franchising trends.So,&nbsp;<a href="https://1851franchise.com/how-much-can-you-make-as-a-franchise-owner-2724761">how much can franchisees make</a>? While results tend to vary, careful planning, disciplined operations and a proactive approach to assessing initial costs are essential. But by grasping and guiding the elements that drive franchise profitability, franchise owners can maximize overall business earnings, scaling a business that’s sustainable financially over the long term.Want to learn more about franchise opportunities on 1851 Franchise? Be sure to visit our&nbsp;<a href="https://1851franchise.com/power-rankings">Power Rankings</a> to read more on brands making moves.

How much can franchisees make? This guide explains what drives franchise earnings and how to manage costs, with expert tips from multi-unit owner Mangesh Patel on maximizing your franchise income.

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Understanding&nbsp;<a href="https://1851franchise.com/how-much-money-do-i-need-to-buy-a-franchise-a-guide-2730910">the total investment</a> required for a franchise is one of the first questions prospective franchise owners ask. While the answer can vary widely depending on brand, industry and market, knowing what goes into it can help entrepreneurs evaluate opportunities realistically (and avoid costly surprises).So, what&nbsp;is the total investment required for a franchise? The total investment reflects everything needed to open and operate the business and adequately navigate its early stages, from buildout to working capital.<h2>Why The Total Investment Matters</h2>Transparency is important. Investment details should be front and center early in the discovery process. It should also be a significant element of the franchise development website for any business opportunity.“The most visited page is the initial investment/start-up cost,” said&nbsp;<a href="https://thejointfranchise.com/">The Joint Chiropractic</a> Senior Vice President, Development&nbsp;<a href="https://www.linkedin.com/in/cmsherwood/">Craig Sherwood</a>. “This is not a surprise. This question is almost always the first a candidate will ask during the initial phone call. It’s critical for a brand to be transparent with not just the initial investment information but the royalties and fees associated with becoming a franchisee.”Developing an accurate understanding of the full financial picture required allows potential zees to assess affordability, tolerance for risk and long-term expectations (before moving ahead or signing a franchise agreement).<h2>What Goes Into The Total Investment?</h2>While every franchise system is different, the total investment required typically includes several core components. “The investment range includes three months of operating costs, the franchise fee and related expenses,” said&nbsp;<a href="https://www.simplycabinetryfranchising.com/">Simply Cabinetry</a> owner and CEO&nbsp;<a href="https://www.linkedin.com/in/dianasimmons-simplycabinetry/">Diana Simmons</a>. So, what is the total investment required for a franchise?&nbsp;Here are five components:<ul><li>Franchise Fee – The upfront fee paid to join the franchisor system and access the brand, training and support available. &nbsp;</li><li>Buildout and Equipment – Costs tied to general construction, leasehold improvements, signage, fixtures and equipment. &nbsp;</li><li>Inventory and Opening Supplies – The initial product, materials or inventory required to open. &nbsp;</li><li>Working Capital – The funds needed to cover payroll, marketing and operating expenses during the first few months of operation. &nbsp;</li><li>Ongoing Fees – Royalties, marketing contributions, technology expenditures and other recurring fees outlined in the franchise disclosure document (FDD).</li></ul><h2>Making An Informed Investment Decision</h2>So, what is the total investment required for a franchise?&nbsp;<a href="https://1851franchise.com/how-much-capital-is-needed-to-buy-a-franchise-2716989">The amount required</a> to launch a franchise opportunity can range from tens of thousands to several hundred thousand dollars, or more, depending on the industry, concept and recognition of the brand. That’s why a thorough review of FDD Item 7 (estimated initial investment) and consultation of experienced franchise counsel is crucial.A clear understanding of the total investment required to start a franchise can help candidates navigate the process more effectively. By asking questions early and thoroughly evaluating costs, franchisees can determine whether a brand aligns with their financial goals, laying the foundation for long-term success.Want to learn more about franchise opportunities on 1851 Franchise? Be sure to visit our&nbsp;<a href="https://1851franchise.com/power-rankings">Power Rankings</a> to read more on brands making moves.

What is the total investment required for a franchise?

What is the total investment required for a franchise? In this guide with expert tips, learn the costs of starting a franchise, including the fees, buildout, capital and ongoing expenses required.

Franchise Industry Leaders Discuss Why Hand & Stone Massage and Facial Spa Is the Right Business Ownership Opportunity to Consider Right Now

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