How to Determine the Best Franchise to Buy - MassageLuXe

How to Determine the Best Franchise to Buy

There are more than 300 different industries available in franchising. Determining the best franchises to buy is no easy task. However, there are some important factors to examine to help you narrow your search.

Establishing your personal business goals will definitely help trim the list. Look for brands that align with your lifestyle, skill set and that you have interest in. Once the list of possible franchises has been whittled down, take a deeper dive researching how the brand operates and the profit potential of the industry.

How to Discern a Good Franchise Opportunity

You don’t want to look at industries that are a passing fad. Look at trends that show steady growth and are continuing that upward trajectory. What usually bubbles to the top are franchise food services and restaurants -- but beware of the high cost of entry. You may also see business services and automotive repair near the top of some lists, but consider the amount of competition in those areas. What will be worth your while is examining businesses in the growing health and wellness category.

Growth in Health and Wellness

According to a published report from The Global Wellness Institute, health and wellness is projected to reach nearly $7 trillion in 2025, with a projected 9.9% average annual growth. Even prior to people feeling the impact of the global pandemic, the increasing trend of people becoming more accountable for self-care and personal health has propelled the industry.

We have experienced this growth firsthand at MassageLuXe as a leading franchise-based spa company. We are a business based on encouraging health, wellbeing, and quality of life through the strength of massage therapy. Whether for pain relief or for the purposes of de-stressing for mental health, massage is a popular trend gaining ground. It’s an $18 billion industry, with demand increasing. 

What Makes a Franchise Successful? 

But choosing the best franchise to buy is not just about crunching numbers. You want lots of information. Utilize our franchising FAQs for details about how the franchise operates. We also suggest these six key elements to look for when examining a brand to partner with.

  1. Business Model: When you become a franchisee, you are given the rights to use a brand’s model. This has been market-tested and replicated each time a new unit opens. How effective is the model-is it proven successful for franchisees? It outlines how the business operates. As a franchise owner with MassageLuXe, for example, our model is designed for owners to be semi-absentee if they so choose. Our advanced technology allows you to oversee operations at your spa location(s) without physically being in the spa.
  2. Training/Support: Many franchises don’t require any previous experience because they provide a training program and continual support throughout the life of your agreement. See how comprehensive the training is when studying various brands. At MassageLuXe, we are dedicated to your success. We provide support for franchise owners at every level from site selection to grand opening, on-going education, marketing and coaching.
  3. Costs/Growth: Analyze the franchise fees, royalties and startup cost estimates, which can be found on most brands’ websites. Then look at how the franchise owners make money. At MassageLuXe, we operate using a membership model allowing owners to count on recurring revenue. We offer quick ramp-up with early profit opportunities thanks to an expanding service line and product offerings.
  1. Leadership/Vision: You want to know you are in good hands as a franchise owner. Examine the brand’s leadership for experience in business and franchising. Know where they envision taking the brand in the future. MassageLuXe franchise owners are supported by a team of expert franchise professionals.
  2. Brand Recognition: Do you recognize the brand name you’re researching? Do you know their standards? MassageLuXe is a trusted brand. Customers know it and appreciate the high level of service we provide -- that goes a long way for our franchisees, who benefit from the brand recognition advantage against competitors.
  3. Franchisee Satisfaction: It’s very important to get in touch with current franchisees and chat about their experience with the brand. MassageLuXe encourages this. Then, when you become a franchise owner, fellow franchisees serve as a vital resource to aid in your day-to-day operations.

Keep on Growing

The multi-unit franchise opportunities we provide feature prominently in our success stories. More than half of MassageLuXe franchisees own multiple locations, which is a very positive attribute when looking for the best franchise to buy. When there is substantial growth among current owners it shows the satisfaction of the investment. We offer attractive pricing for franchisees who want to open multiple locations right away, or after you have successfully established one MassageLuXe location. Plus, each time you purchase a MassageLuXe spa you purchase a protected territory.

To learn more about spa franchise opportunities with MassageLuXe, fill out the form on this page.

 

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