Shoppers drug mart franchise
Shoppers drug mart franchise
Location, all the way. That’s right. Location is the most important element in the success or failure of any new franchises business, and virtually every other business, for that cause.
Some franchisors have locations already accessible for the thought of prospective franchisees. Some alleviate the purchase of current outlets in demonstrated locations from franchisees intending to sell. Others might allow the selection of location totally to be of your decision, though they will usually be watchful for your selection.
At the time I got back from Shoppers drug mart franchise teaching an MBA class in New Venture Creation at Utah State University in 2001, I looked into franchise ownership for the initial time. I had relished teaching about franchising and had relished superior client experiences at franchises such as Subway, Cold Stone Creamery, and Boston Market. At that time, none of these marks were demonstrated in Australia in any significant method.
Therefore, soon after I got back, I went to a Subway meeting for prospective franchisees carried at south-western Sydney. After Subway’s Regional Manager apprized us that franchisees must initially choose their own Shoppers drug mart franchise location, I talked with him about two probabilities I then thought of. For the initial, he said that the site, a mall under construction, was already assumed by a new franchisee. My second proposition was a regional mall then many years away from demonstrating. Unluckily, it likewise was assumed, this time by a current franchisee in a close area. Since I had no other effective substitutes, I decided to leave the idea for some time.
I returned to the franchise idea through buying a current bookstore franchise in late 2007. Being settled in front of a pedestrian plaza in the middle of a regional business area, I was sure about the effectivity of its location through sitting out front of the Shoppers drug mart franchise store and counting clients as they walked in and out of the place one afternoon. I counted both franchise purchasers and visitors for almost 20 minutes. The numbers seemed effective.
For a review, they were effective, but perhaps not as effective as I had initially wished. Why? Since I had looked into the store during that time of day once it was, by far, at its most occupied. It was lunchtime, and I have noticed since then weekday lunchtimes, from noon till about 2:00pm, can account for 70 % or more of the day’s takings.
So, though the store keeps on doing well, it would work much better if the lunchtime herd was reflection of Shoppers drug mart franchise client streams and revenues all over the whole day. It’s not, and that’s a fact.
At a different time not long ago, I established two ephemeral retail stores at other places, making use of the busy pre-Christmas period to sell as much as I could in as short a time as achievable. The initial was once more at a Shoppers drug mart franchise place disproportionately preferable by the lunchtime herd.
