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Scaling-up your franchise business: How to achieve sustainable growth

Written by David Glover on Monday, 16 September 2019. Posted in Analysis

What’s next for a franchisee whose business is thriving?

Scaling-up your franchise business: How to achieve sustainable growth

What’s next for a franchisee whose business is thriving? You’ve fulfilled your dream of owning a successful business, you’re proud to be making a difference in your local community and perhaps you’re now wondering how to take the next step.

At Caremark we’ve been reflecting on the different business journeys across our network of over 120 home care franchisees, and the many shining examples that have enjoyed superb growth while remaining true to our strong internal culture and values. It’s clear that one thing unites us and all our franchisees: an unwavering commitment to creating the mark of excellence in care.

One inspirational example is Hannah Drury who began with Caremark Sutton and now also owns Caremark Epsom & Ewell, Reigate & Banstead. We could tell that Hannah was a rising star from the moment we met her, and she’s proved us right! She’s put exemplary care standards at the heart of her business, never compromising on that commitment in her quest for growth. She’s been rewarded for that diligence with two thriving territories and has since been named Young Woman in Franchising of the Year two years in a row by NatWest Encouraging Women into Franchising (EWIF).

Extraordinary people like Hannah, who can demonstrate their passion and flair for the care industry, prove that upholding a business’ core values is essential to sustainable growth.

So, if your ambitions include opening another Caremark franchise business, you should start by asking yourself some questions. What’s my motivation for growth? Can I grow my current business without opening a new one? How much time can I spend in my new business? Who’s going to keep running my current business if I’m busy with my new one? How can I replicate the success I’ve already enjoyed?

One of the advantages of working with an established and innovative franchisor like Caremark is that, if you strive to achieve even more, then there are proven routes to growth and support systems already in place.

Our franchisees often describe themselves as a family and it’s easy to see why when the offers of help flood in from fellow business owners who have been on a similar journey.

When you’re hungry to take the next step to growth it can be thrilling and daunting in equal measure and having a support network, from the franchisor and the network, can be a real lifeline. It’s always a wonderful confidence boost to have allies cheering you on from the sidelines, too!

Exploring the different options for growth can be very exciting and no doubt you will have plenty of burning questions at this point! Next, consider the logistics and sketch out the most efficient routes to growth. For instance, could you open a second Caremark business near to your first one or would you end up spending a lot more time travelling?

Perhaps opening a second Caremark business isn’t your only path to growth. You may find that having a second location to travel to doesn’t fit with your lifestyle, or you may not want to cut down your time in your existing business.

At Caremark, growth ambition can be fulfilled in a number of ways. It may not be a second geographical territory that’s right for you as there is usually plenty of scope to do more within the existing business.

Some of the ways our network scale-up within their current territory is to launch one or more new services to the community. The range of services is wide and demand from the community for high quality care is intense. Options include live-in care, children’s care, home-from-hospital support, complex care, and more.

And franchisees that do want to expand into another geographic territory will certainly find that there is no shortage of people in the community in need of the excellent standard of care they deserve.

We value our franchisees for their pride in their businesses, their eagerness to help others and their desire to go above and beyond. However, we always remind them that opening a second Caremark business is just as hard, if not harder, than opening the first! So, remember to use the support systems that are available to you.

We’re always on hand to encourage and support our franchisees whatever stage they are at in their business journey. Regardless of professional background, we particularly welcome people that come into the home care industry with a genuine passion for caring for others. Invariably, those are the franchisees that enjoy the most success.

If you dream of business ownership but want to feel part of something ‘bigger’ and if you crave the pride and satisfaction of improving people’s lives, then maybe it’s time to ask yourself another question: could Caremark help you realise your ambitions? 

 

About the Author

David Glover

David Glover is Caremark’s managing director and the bfa forum chair for London and the south east region.

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