Provide an overview/ description of your industry.
We feel it's a great place to start a business today as the before mentioned industries have been proven over time to be relatively recession proof. We also feel that with the innovations in technology, certain services (like IPL hair removal!) are now more accessible to middle America, and they're hungry for them!
How has your industry changed in the last 10 years? 20 years?
My personal belief is that we've seen the segmentation of our franchise industry in many facets. Nail salons come to mind first and foremost as a good example as they were once a service found in the big beauty salons, however they are almost all completely stand-alone today. You also see segmentation and focus on certain demographics (i.e. Cost Cutters or Sports Cuts). I also feel that many of these services that reside or resided in the hands of "independents" lack systems and marketing approaches and are strong candidates to be taken over by a franchisor that knows the business and has put some structure and focus around them (i.e. Massage Envy).
What trends do you see in your industry over the next 5 years? Next 10 years?
To further echo the previous question, I see more and more segmentation in our industry. Simply put; it's hard to be everything to everyone. And in our industry where the cost of some of our competitor's equipment is through the roof, the investments to have a "one stop" beauty/med-salon, are simply too high. I also believe that more and more of the services that were once available to only the people who could afford them, are going to be offered to the middle income folks of this world.
What is the biggest concern about your industry that a franchisee candidate should be aware of and investigate?
Even for something as simple as IPL hair removal there exist regulations and laws. The franchisee should research all the local laws to see if there are any that would prohibit them from owning or operating a business that provides our kinds of services.
Why do you think No+Vello USA stands out in the industry?
I believe like all the great franchise systems that exist today, our company focuses on a main core competency and has put structure and system around an otherwise disorganized industry. We have a business that appeals to a wide spread demographic and a cost of entry that is very low.
What makes your franchise/ business opportunity more attractive than your competitor's? We believe we don't really have any direct competitors in the U.S. However, I personally believe we are more attractive than most other franchise systems because we have an exciting new product offering, we have it at a price point that is very hard to beat, and we provide a complete business system that is very affordable. The franchisee's overhead is very low and we don't need a lot of employees to make our business work.
Describe the ideal candidate. Do you think your requirements are any different than your competitor's?
Again, our ideal candidate would be a franchisee who will be directly involved with the start-up and operation of their business. I also believe that even though our primary service is somewhat of a commodity, our franchisees should have a passion for this industry. I believe our candidates will differ from our competitors because we are offering a small business concept and this model is not for everyone. We have created a "keep it simple, stupid" business model that allows our franchisees to master a core skill set, accelerate the business model, then duplicate it rapidly in other locations if they choose.
What's the strongest skill you require in a candidate?
A passion for our business, the ability to learn and the motivation to apply it for themselves.
Describe the working environment of your franchisees.
The working environment is a street level retail location. We need only between 400 and 700 sq. Ft.!
Why has your company been successful? There are many reasons, but I believe the principal one is that we have taken a product and service that was only available to the "few" and have made it affordable to the "many".
What advice would you give someone interested in buying a franchise in your industry?
Buy a No+Vello Franchise today before there are no more territories available in our city or state!
How much experience in this industry should a franchisee candidate have should they consider buying a franchise in your industry?
As a company, we don't require any experience in our industry. We believe that if a franchisee has the passion for our business and the motivation to learn and apply our system, we can provide them with all the necessary tools to succeed!