The franchise I am investigating is InShape MD, a medical weight loss and anti-aging retail store-front unit. (www.inshapemd.com)
As a physician I have a clear understanding of the medicine and the service lines. With my experience in running small businesses I can manage the day-to-day operations, no sweat. It is a cash only business which eliminates the byzantine insurance reimbursement scenario. It has good systems in place for management.
I find myself, like many small business people in a credit crunch with an upside down home and difficulty obtaining financing. I am working on that aspect. I need about 200K to be comfortably capitalized.
I use Profiles International Inc. online assessments and hiring system, for hiring, job-matching and employee management. Nailing down the best methods of advertising and promotion and controlling those expenses in a fashion that maximizes returns is a key and confusing issue.
That basically sums it up, but I am planning everything down to the smallest detail including performance pro forma, job descriptions, organizational structuring all before I pull the trigger so I have time to work on financing.
The first year success depends heavily on pre-planning, structure, and advertising, so thats where I am spending my time.