If you follow examples set by leading companies, you’ll reach a time when expanding your business is advisable. While exciting, growing a franchise can feel daunting if you’re unsure how to do it. 1Heart Caregiver Services is here to help.
We were founded by people with extensive backgrounds in the homecare industry. Instead of searching for help, we have everything you need right here. Before you start scaling up, check out the following tips for expanding your franchise business.
1. Research Potential Territories
The most important step before expanding a franchise business is to research territories of interest. Typically, these areas will be cities near where your franchise currently operates. But where you choose to scale your franchise is up to you.
For instance, checking out local commercial spaces for lease or purchase could be affordable or too expensive in more competitive markets.
Whether expanding or opening a homecare business, you may look at which areas have larger populations of senior citizens. It can also be advisable to look at financially related demographics such as median incomes and projected economic growth to ensure homecare is a viable option for residents.
2. Assess Your Competitors
Whether it’s a franchise or not, a vital aspect of expanding your business is knowing the competition. Thankfully, modern technology makes this research easy to accomplish.
A few places to research local competition include:
• A Google search for location-specific homecare and healthcare services
• Social media platforms
• Popular business review websites, including Yelp and Trustpilot
Besides seeing what others say about your potential competition, nothing beats visiting your competitors’ websites directly.
Typically, these websites will list information about what services competitors offer, their pricing, and what (if anything) makes them stand out. You can also get a feel for posted content from competing franchises. This information is helpful regarding how you can expand your franchise business.
Depending on the homecare business or organization, you may also be able to request physical information from competitors, such as:
• Brochures
• Catalogs
• DVDs
This research may initially seem like you’re going overboard. However, as you’ll soon see, researching where competition is the stiffest is a smart move while expanding a franchise business.
3. Hone Your Marketing Efforts to Each New Territory
Marketing is vital whether maintaining or opening a homecare business. After establishing locations where your franchise will expand, it’s time to begin marketing to each new zone.
Demographics may only vary slightly among certain nearby cities or towns. Even meager distances of 20 miles or less can separate rural and urban areas. Knowing them can let your franchise strike personal connections with each territory it serves.
Proven ways to effectively market your homecare franchise in new territories include:
• Paid advertising on popular local TV channels, news publications, and radio stations
• Partnering with well-known local companies
• Including the appropriate city name throughout your marketing campaigns
4. Consider a Test Program Before Expanding a Franchise Business
Another way to dip your feet into choosing a business territory is through a test or pilot program. In the homecare realm, a test program could mean offering a select range of services. You may also provide your standard service options while only focusing on a small customer group.
Regardless of how you choose to do it, harnessing the power of pilot programs gives unprecedented and first-hand experience with a new territory, its businesses, and its people. It also provides vital information to help you decide whether scaling up in this vicinity is a wise move.
5. Spend Time Building Local Relationships
Opening a homecare business is a great way to help your local community. However, even established companies in new markets can struggle with local clients. Understandably, these people often want to meet the people behind a homecare business.
Businesses new to a local area can integrate themselves in many ways. A simple but effective way to expand a franchise business is by joining city-based online groups. Some groups are based solely online on popular social platforms like Facebook. Other groups may prefer to have in-person get-togethers.
In some cases, the people attending these meet-ups or sharing local group-related posts may know someone who could benefit from what your homecare franchise offers.
A successful franchisor has the knowledge and tools to help franchisees expand their businesses. 1Heart Caregiver Services offers top-notch training and coaching for franchisees. We teach them how to manage and grow their franchises and much more. Find out more about our franchise opportunity by speaking to the welcoming people at 1Heart Caregiver Services.