1. 1.    Trying to Do It All By Yourself

This is a big one.  Many new business owners, particularly in franchise businesses, think that their way is the only way and try to do everything themselves.  You’re way is probably great.  But trying to do everything all the time will drain you quickly, and you may end up sacrificing quality in important areas.

How to avoid Do-It-All-itis:  Hire the right people.  Spend the time interviewing managers, employees, etc.; until you find people that have expertise you’re confident in.  Then take the time to teach them exactly how you want things done, this way you can focus on you’re primary job as a franchise business owner…growing your business.

1. 2.    Assuming You Have No Competition

True, as a franchisee of a known brand people know who you are.  You probably open your doors with an already loyal consumer base.  But don’t make the mistake of thinking that it’ll always be easy.  There’s always competition out there.

How to avoid the King-of-the-Hill complex: Keep up with industry happenings, new brands, and keep an eye out in your market. Check out these tips on how to figure out who your competition is, how they’re attracting customers, and what to do about it.

1. 3.    Having Unrealistic Financial Goals

Many new franchise business owners fall prey to the thoughts of making millions overnight.  And then when they realize that it takes time and effort to build a successful business, they get disheartened and stop doing what they should be.

How to avoid mad-money thoughts:  As a franchise business owner, you have a plan already in place.  Remember that.  There was a reason you chose this franchisor in the first place.  Work their system the way you’re supposed to, provide excellent service, and take your growth one step at a time.  Click here for some tips on keeping your piece of mind.

Please feel free to post your ideas, questions and comments below, or email us at blog@kiddieacademy.com.

It’s a brand new year! What better way to start it off than by refreshing your local webpage Search Engine Optimization? Exciting? No. Important? Yes!

If you’re lucky enough to have a franchisor that provides its franchisees with individual webpages (Ahem, Kiddie Academy) then read on. We’ll dig into three ways that you can greatly enhance your pages’ SEO ranking with a few simple tweaks.

Improving the SEO for your business is an on-going and sometimes elusive pursuit – the goal is to ensure that your business service or product appears in the search results that your target audience requests (using Google, bing, ask.com, etc.).

Optimize your title tag.

Franchises are community businesses. This means that when customers are searching for your product/service, they’re likely to type in the city name along with what they are looking for. According to Google, 97% of customers search for local businesses online. Include your franchise location in your title tag – read more to learn about one of the most important on-page SEO elements that describes an online document

Weave in keywords.

Make a list of relevant keywords that you want to target. Then weave those keywords into the content as many times as you can without sacrificing over usage for the reader’s sake. Check out Google’s awesome tool to identify popular keywords in your industry.

Register your webpage.

Think Yellow Pages for the digital era. Local directories, such as Google Places and MerchantCircle only take a few minutes to register with and increase your visibility among search rankings. These are great tools for acquiring new business. Oh, and they’re free. Bonus!

As a franchisee, you already have a strong brand identity. Make your presence even stronger by setting up your SEO for the New Year.

Please feel free to post your ideas, questions and comments below, or email us at blog@kiddieacademy.com.

According to a recent Wall Street Journal article, a survey of loan officers performed by the Federal Reserve “cited more aggressive competition” among lenders.

Why is this good for you?  The increased competition among banks to lend money means lower interest rates for loan recipients — for you.  If you’ve been waiting for the right time to get a business loan, there’s good news.  Your wait is over.

Business loans, referred to as commercial and industrial loans, “were up 4.4% in the fourth quarter and 16% for all of 2012,” according to SNL Financial of Charlottesville, Va.  The article went on to recognize that there has been, “a renewed willingness by some banks to lend cheaply and on flexible terms.”

Here’s a tip: If you have a Wells Fargo & Co. bank near you, check out their loan

offers.  They are one of the large banks leading the lending charge, having increased their total number of loans by 12% in 2012.

Our very own Kiddie Academy CFO Sue Wise said, “Our franchisees are being offered more loan packages than they have in a long time.  The banks are much more willing to lend, and the offers have become more aggressive and favorable for our franchisees.”

Why the shift from tight purse strings to competition?

1. In 2009, when unemployment was at its most recent high point of 10%, people began putting their money in a safe place: banks.
2. Since then, bank deposits have been steadily growing as people have been getting back to work and earning more money, still wanting to keep it safe.
3. Banks are now packed with liquid assets and looking to grow, which means making money by loaning money.

It’s time for you to take advantage of what the chairman and chief executive of EagleBank called “ridiculously low, low interest rates.”

And remember, people looking to start a franchise business have an increased chance of securing a business loan because the banks feel more confident when they’re investing in a proven business system.

Please feel free to post your ideas, questions and comments below, or email us at blog@kiddieacademy.com

This Q&A covers a few of Sue’s tips for those considering joining a franchise system:

Why join a franchisor and not another type of business?

Quite simply, helping others realize their dream of becoming entrepreneurs is incredibly gratifying. Those who express an interest in franchising with Kiddie Academy are often quite frustrated. They  feel they have no control over their future, no flexibility, and/or not enough time with family. Kiddie Academy offers an opportunity to work with children, build for the future and enjoy a Monday through Friday work schedule.

How is franchising different from self-startup businesses?

Starting your own business can be overwhelming. There are so many aspects to consider, especially when trying to get a business off the ground, such as financing, IT, staffing, marketing and advertising. It is a rare individual or partnership that can do it all well. The distinct advantage of aligning with a franchisor is the expertise they bring. From day one, the franchisor’s support team rounds out your skill set to help you maximize your business potential.

What are the statistics on franchise success rates?

The success rate of starting with a franchise is 95%, compared to just 35% when starting a business without one. I think it comes down to support, brand recognition and the lessons learned by other owners who paved the way.

Any advice for someone who is thinking about opening a franchise business?

While success is never guaranteed, the franchisee could and should benefit from the vast experience that the franchisor has gained over time. They should understand that the marketplace is ever-evolving in terms of technology, demographic trends, government regulations and the competitive landscape. They will need to evolve right along with it.

What about a Kiddie Academy franchise?

Successful Kiddie Academy franchisees really like children and enjoy being active members of their communities. If that sounds like you, learn more about how our support systems would balance your skill set. Talk to our management team and other franchisees to see if their views on business align with yours. Determine whether our strategies are ones you can fully embrace, as that is a requirement of every owner. And decide whether networking within your community and with regional and national franchisees sounds like something you’d really enjoy.

For more information, you can reach Sue’s team at 800-554-3343, or via email at shilger@KiddieAcademy.com.

Sue Hilger, Kiddie Academy’s VP of Marketing

For the past 53 years, the annual convention of the International Franchise Association has drawn the industry’s best and brightest from around the world to strategize, plan, re-imagine what franchise businesses can achieve for our communities, for owners and employees, and for the economy as a whole.

This year was no different, hosting keynote speaker Dr. Condoleezza Rice, first woman to serve as Assistant to the President for National Security Affairs, 66^th Secretary of State, and current professor of Political Science at Stanford University, where she has won two of its highest teaching honors.

Dr. Rice spoke about the private sector leading the charge to restore a powerful economy and about the importance of early childhood education as a key issue to the future of national security.

Her speech was a rallying cry for small business, and in particular for the early childhood education industry, a major success for franchising, and for our industry.

Workshops covered everything from the bottom line to the very human aspects of human resources. In-depth sessions provided guidance on international expansion, health care law, retirement planning, online and mobile marketing, sales leads, compliance, metrics, legal issues, technology, leadership, and much more.

Kiddie Academy President Greg Helwig had this to say:

“We make the investment to send our team to this annual conference to maintain our leadership in the early childhood education category.  Participating in workshops and seminars in order to stay on the cutting edge of what is happening in franchising is an integral part of being a leading franchisor.”

Please feel free to post your ideas, questions and comments below, or email us at blog@kiddieacademy.com

Here are a few expert tips for planning your Grand Opening:

1. Fit It Into Your Budget

Work the grand opening into your initial budget so you cover the expenses from the beginning. Franchisees often get preoccupied purchasing supplies, equipment, etc., leaving no additional money for a grand opening. Or worse, a lackluster opening. Remember that this event sets up your sales for your entire first year in business.

Insider tip: “Create a memorable and unique event with a focus beyond the staged ribbon cutting approach. A cause-related grand opening, for example, can generate a lot of attention.”

2. Plan In Advance

Planning should start way before the paint dries and fixtures are installed. Book promotional media or vendors early and generate buzz with advertising. As you grow into other locations, you can leverage these materials.

Insider tip: “Partnering with a local radio station not only generates hype, but they will normally bring high-visibility tents and provide giveaways throughout the day.”

 3. Ask Yourself: What’s in it For Them?

It’s nice to think that customers will visit your franchise opening for the sheer excitement that you’re new in town, but just in case they need a push, give them a reason to come. Nothing big. Think raffle contest or a special guest appearance.

Inside tip: “Have something for everyone. Make it a family event where everyone feels welcome.”

 Please feel free to post your ideas, questions and comments below, or email us at blog@kiddieacademy.com.

 Sources: Insider Tips from Franchiseknowhow.com

• Developmentally appropriate curriculum
• Character education
• Health and fitness exercises
• Technology education.

By nurturing and improving these skills in young children, they are better prepared for success throughout school and life. As a result, preschool has become a must for many parents and this popularity has brought great demand for educational child care centers that enrich and encourage early childhood development.

 Click here to view the full infographic

For a look at the value and virtue of educational child care centers, Kiddie Academy® produced an enlightening infographic that details the reasons, rates and results advancing the growth of the industry that’s helping the growth of our children.