WHY GOTCHA COVERED MAKES SENSE
As an experienced franchise broker who represents hundreds of companies, here are some reasons why I believe that Gotcha Covered is perhaps the best low-cost franchise model available today, for both women and men. Because I believe strongly in my comments below, I am also a franchisee of Gotcha Covered myself. - Scott Brennan
First, the franchisor is in an industry with great macro factors to reduce risk for my clients. The window covering industry is one of those industries. It provides a product every home and business requires – high demand. It is not subject to technological disruptive forces – tech proof. It is a low-cost, home-improvement solution that creates steady demand in all economic environments – recession tolerant.
Secondly, I look for franchises that have simple, clear-cut models. Launching a business is challenging enough. Gotcha Covered owners do not have to worry about hiring, training and firing staff – no staff required. They do not have to worry about finding a location, wrestling with locational factors impactful to their business and negotiating with landlords – no site required. They do not have to worry about getting inventory right for their market and the constant fire sales to rebalance inventory – no inventory required. They do not have to manage lots of annoying paperwork and time-wasting, back office stuff – integrated IT platform from sale to delivery.
Thirdly, I look for good unit economics and the opportunity to generate strong revenue, gross margins, and net profit. Gotcha Covered is a high-demand, high-margin with costs taken out of supply and delivery chain, and strong profit margins, a result of simple business model with few expense line items. The flat-fee royalty structure is also a real incentive and profit contributor to great operators. The higher the revenue the lower the effective royalty percentage – the franchisee keeps more of what they sell.
MULTIPLE REVENUE CHANNELS
Fourth, I look for franchises that have multi-revenue channels in consumer and commercial sectors. This allows franchise owners to fully capitalize on both markets to build a robust business. It also helps maintain a steady revenue stream with swings in the economy, since both sectors are often affected differently by economic factors.
Fifth, I look for low-investment franchises that appeal to the full risk-tolerance range of clients. My philosophy with all clients, regardless of net worth, is to find the right fit for the least investment. Gotcha Covered meets this standard. Few clients are comfortable with outbound prospecting and a feel a great risk in having to do this. These clients need to find fit in a marketing-driven franchise concept. However, aspiring franchise owners who do not feel comfortable with prospecting often gravitate to retail, bricks and mortar franchises that frequently breaches their investment level and introduces another risk. Gotcha Covered is a terrific low-cost alternative solution for those that need a business that is not about door knocking. Rather, it is driven by effective marketing and community networking strategies, strategies that introduce the client to the owner, is not about door knocking and yet, does not required the high investment of traditional retail models.
LEADERSHIP AND SUPPORT
Sixth, I look for great franchisor leadership, strong support and training, and a franchisor culture that is team oriented. Gotha Covered excels in all of these. Leaving corporate and going into business for oneself is scary stuff. I tell all my clients at the outset of their research, the process is about finding the ‘right platform’ and as important the ‘right partner’. Clients who enjoy a strong, supportive relationship with the franchisor reduce the fear they feel embarking on this big transition. My experience with almost all my clients and those who acquired a Gotcha Covered franchise enjoy a supportive culture, and the leadership at Gotcha Covered was as impactful to their decision to move forward with Gotcha Covered as was the business opportunity.
All of the training, as well as travel to & from Denver and accommodations, are covered by the franchise fee. This applies to basic and advanced training. Also, since the nature of the the business is to represent all the major manufacturers/vendors of window coverings in the industry, each of those companies (Hunter Douglas, Graber, Comfortex, Alta, Paramount, Wesco, Timber, etc., etc.) has local sales managers who will come to your home whenever requested to provide training on all of their products and quote processes free of charge. For mentoring purposes, Gotcha Covered also has staff that specialize in various sorts of products and bidding that are always available to franchisees upon request.
In the final analysis, the best measurement of the value of any franchise company is the opinion that franchisees have about their business, their future, and their relationship with & trust in the franchisor. Gotcha Covered is at the absolute top of the charts in all of these areas. I have never found another brand in any industry that has such consistently high ratings from its primary clientele – its franchisees. That is justified by their earnings, life style, and the ways in which Gotcha Covered helps them stand alone at the top of their industry.