Due diligence is probably the most important piece of the franchise-purchasing puzzle. As the digital age continues to grow and franchising shifts with the changing times, more and more people are doing their homework before even talking to a franchisor. People are doing most of their research before they even think about picking up a phone or requesting information through a franchise website.
One man who knows the importance of this process is Hand & Stone Massage and Facial Spa
franchisee Davenel Dennis, who looked at nearly 40 different brands before choosing Hand & Stone.
1851: How many brands did you look at before deciding on Hand & Stone?
Davenel Dennis: "I looked at many brands and my total count was approximately 40."
1851: Why did you choose an opportunity with the franchise you chose?
DD: "I liked the leadership team and the business philosophy. I also wanted to make sure I did something in the health and wellness space. A massage and facial spa fit all of my criteria as well as the fact that it's customer centric."
1851: Do you have plans to open more units with this brand? Have you explored the possibility of opening locations with any other brands?
DD: "We definitely plan to open another location soon. I love The Joint which offers chiropractic care 7 days a week and it’s a membership model as well. I also like Jamba Juice which is an amazing brand that serves fruit smoothies and juice for the health conscious consumer. It also plays well with my nutrition background.
"Multiple brands work well in my opinion if they all have some common theme. My theme of course is health and wellness."
1851: What is your advice to anyone looking at multiple brands? Is there anything in particular you recommend taking a second look at before deciding?
DD: "I recommend following your passion and if there isn't a model out there create it! I would take a second look at any business that has the baby boomer in mind and a focus on wellness. Healthcare is a significant cost to the everyday consumer and we all need to take better care of ourselves. We need to combat obesity, cardiovascular disease and cancer so any business model that can help us end these debilitating diseases will be the future which is now."