Its Justin D’Esposito here, founder and owner of Justin’s Barbershop®. Since I’ve starting franchising my own business, I’ve realized people have a lot of the same fears that I had when I first opened my own barbershop business. I wanted to take some time to tell you about some of the fears that I had to overcome in order to take the leap and become the successful business owner I am today.
Since I can relate and truly understand the types of fears people have, I made it a point in my Justin’s Barbershop® Franchise to ensure that we provide the tools, resources and support that I wish I had back in 2005 when I opened my first Justin’s Barbershop® in Jackson, New Jersey.
In this blog we are going to talk about some of the fears of starting a business and how franchising can help alleviate and calm some of those fears.
The first concern so many people have is, “can I afford it”? One of the most important things you should do when looking to open your own business is to look at it as an investment on your future.
Before you let money fears crush your dreams of business ownership and achieving the lifestyle you want, talk to a financial advisor. Like with owning a home, there are many ways to finance a franchise. Financial advisors and lenders who deal specifically with franchises, they know the ropes and can help you. We can help you by pointing you in the right direction to work with companies that we have built great relationships with.
We also hear this question a lot, “Why should I consider a franchise to start my own business?” Fact is, its normally a lot easier to finance a franchise than to obtain financing for your own new independent business.
Until your revenue grows enough to cover expenses, you're going to have to feed additional cash into the business to pay the bills. We want you to make sure that you have an appropriate budget for this expense in your business plans. During our discovery process we will sit down together, learn about your specific goals and provide you with guidance in planning the start of your own new business. All we need to do is talk, then we can assess your financial situation and see if owning a Justin’s Barbershop® Franchise is not only the right fit for you, but us as well.
DON’T QUIT YOUR DAY JOB! A common misnomer is that you have to quit your job. Just because you’re opening a new business it doesn’t necessarily mean that you have to give up your current main source of income and we want to tell you how.
Some of the things you should consider when selecting a site is the general location, size of space, neighborhood, traffic patterns, area demographics, parking, physical characteristics and lease terms. Justin’s Barbershop® wants its Franchisees to be conscientious when selecting a site to operate their shop.
If you want to engage in the services of a licensed Real Estate Agent or Broker to assist you in selecting a location, our network of commercial real estate agents are familiar with the Justin’s Barbershop® model and can assist in every step along the way.
We believe that the right candidate combined with the right training and coaching can become an outstanding boss. With us, it’s not only about being a great boss, but rather, a great leader of your team and in your community. These tools for success can cultivate a positive work environment, which is important for you and your employee’s pride, well-being, productivity and happiness.
With constant support from not only us, but from the other franchise business owners in our system, you’ll always have the opportunity to discuss any subject with other likeminded business people.
It’s important to get the best out of your employees. They are helping to run your business, speaking to your customers, on your social media and talking to all their friends and family about the company culture and the brand. They’re essentially living representatives of your business and the Justin’s Barbershop® Brand.
Authors: Justin D’Esposito, CEO and Founder & Cheryl Hutchinson, Director of Franchise Administrations
JB Franchise Group, LLC