This post is the second of three posts over three months sponsored by Supercuts!
You can find the first post, Supercuts is a Super Business Even If You Don’t Cut Hair, here.
As a small business owner, I’m often interested in seeing how other business owners get started. I really love surveys and data. My friends call me the “Queen of Stats” as I enjoy digging into the numbers and determining what they mean overall. I love that SuperCuts took the time to ask these questions and pass along the information! Yes, yes, I know, I’m a geek! But, bare with me.
Who is looking to start a business?
Who is looking to start a business? 1000 People with a net worth of over $200,000 were surveyed and here are the results:
- 56% are planning on opening or starting a business in the next 12-18 months. (Either alone or with a partner.)
- 25% are females looking to start their own business.
- 56% looking to start a business are planning on having a business partner.
- 31% of the people looking to start a business are planning on going into business with a spouse or domestic partner. (That’s roughly 10% of all respondents.)
- 30% of respondents looking to start a business are going into business with a friend and 26% are going into business with a colleague.
- Females are more likely to go into business with a spouse or domestic partner than males.
How are business partners likely to be related? Here’s a handy dandy chart:
Supercuts is a Super Business
Okay, getting back to the point. That same NPR story, “The Roots of Franchising Took Hold in a Hair Salon Chain,” goes on to discuss the modern day Supercuts franchise and Gary robins who owns 41 Supercuts today. Gary talks about video cassettes. Remember those? Exactly the point. He says- Haircuts are timeless, necessary and so he dumped the video rental granchise (or it dumped him?) and purchased his first Supercuts. It didn’t take him long to realize Supercuts is a Super Business!
Common Supercuts and Franchising Misconceptions
- This business is for hairstylists. It’s not a serious business for people who aren’t hairstylists.
- You need to know how to cut hair to open a Supercuts franchise.
- These are both FALSE!
The Truth about Supercuts and Franchising
- The hair care industry is stable. It is a need based business, not a want based business. (Frozen yogurt is a want, but a haircut is a need, both in good times and in bad.
- Cutting Hair cannot be made technologically obsolete.
- Services must be performed by a licensed professional, you won’t ever be cutting hair, you will be in charge of running the business instead.
- It’s simple to own a Supercuts. You don’t have a high amount of staff, inventory costs are low, hours are especially reasonable compared to other franchise industries such as food, automotive, child care, fitness, etc.
- The Supercuts brand is widely recognized. It’s also backed by national advertising, robust web and mobile presence and the Supercuts brand is sought after nationally.