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How would she know whether customers on the franchisors platform AND within her catchment would show interest in any of the products?
Are they sufficiently interested or do they have a strong enough need to take action / make a purchase?
Could she test this- with some initial ads of her own, pre-sales or one-time-offers to validate the extent of demand?
Mary was looking to take a leap to grow her business. Yet the solution did not provide any cash flow certainty and basically, she had no idea whether the new business model would actually work! Never mind what the business plan says….
But….there IS a happy ending.
This is how it all went down: Sadly the bank didn’t get its easy money. But yay for Mary!
Mary, Mary, how DID your garden grow?
With Silver Bells.…..
- Ringing melodiously each and every month as recurring income spills into the tills.
- After running some initial tests, Mary realised that signing up to the franchise agreement wouldn’t solve her seasonal cash flow problems – she realised that there simply wasn’t enough demand to Instead, she looked around at what her market needed that she could provide and partnered up with other small businesses – to provide them with a regular service each and every month for a set fee.
And Cockle Shells……
- These arrangements were ‘clammed’ up with contracts of a minimum 12 monthswith a service package upgrade, incentives and all sorts of goodies she could now afford to provide as additional value because she had predictability of income and could control her cost structure more effectively.
And Pretty Maids all in a row…..
- Mary decided that she was having so much fun (and profits!) with this new business model that she replicated it, first to other suburbs – growing first via referrals from her happy clients; then via happy ‘clones’ of herself – She licensed the work to other florists who would deliver the service whilst she kept a portion of the fees for negotiating the arrangement.
Did she really need the franchise to begin with?
If anything at all, that’s where she got the idea to license all the work to other florists.
Mary, your ‘garden’ looks fabulous!
Photo credit: Mary Mary…mixed media by Carolyn Saxby