McDonald’s, Subway and Supercuts are among the top franchises in the nation. But have you ever considered doggie day care when it comes to as successful franchise? Heidi Ganahl founder of Camp Bow Wow, the largest pet care company in the world, made it her passion to do just that.
At Your Conversation With, Ganahl shared her expertise on what it takes to franchise a successful business.
Manage your money
Franchising is expensive; that’s why cash flow management is extremely important. Be cautious of what you are spending your money on, but don’t be afraid to take a risk if it aligns with your vision.
When Ganahl first founded her business, she invested in a web camera so dog owners could watch their dogs at camp – creating a sense of comfort for the owner. In 2000 when Camp Bow Wow opened, a web camera was a huge technological risk and a big investment, but it aligned with her vision for Camp Bow Wow. Without the doggie cam, Camp Bow Wow wouldn’t have stood out from their competition.
Chamber tip: Get a better understanding of your cash flow management at the Denver Metro Small Business Development Center’s Funding Options Panel on Thursday, June 30.
Put your brand first
One benefit of franchising your business is having a variety of perspectives on what would make your business successful. All opinions are worth hearing, but remember that you are responsible for your brand and what your customers want. Ganahl says to stay true to your brand as you expand, because in the end if one franchise isn’t up to par with your company’s brand it could put all of your locations in the dog house.
Chamber tip: Build your brand recognition with these three tips.
Find the right fit
Discover your company culture to hire the right people. Ganahl’s golden rule is to “hire slow and fire fast.” Your company culture sets the standard for your franchisees – the people that you hire can make or break your business.
It’s also important to find the right fit when you sell your franchise. Ganahl sold her franchise to VCA Inc., a leading animal health care company, in 2014; her concern was if their culture would match that of Camp Bow Wow. Luckily it did; Camp Bow Wow is expected to grow to 1,000 locations over the next several years.
Chamber tip: Learn how to cultivate your culture to find the right fit for your company.
Join us for the next Your Conversation With on Aug. 31 with Denver Metro Chamber President and CEO Kelly Brough, incoming Chamber board chair and JP Morgan Chase Colorado Market President Todd Munson and past Chamber board chair and EKS&H CEO Bob Hottman.
Laura James is the marketing and communications coordinator for the Denver Metro Chamber.
