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Housing Market’s Recovery, Flood of Professionals in the Marketplace and Loosening of Capital Signal Opportunity for Well Positioned Franchise
Miramar, FL (April 30, 2010) – Granite Transformations, a division of Trend USA that has facilities and showrooms around the world, is excited about its prospect for growth. First, it is seeing signs that the home improvement market is trending up for the first time in 18 months. That’s good for business if you own a Granite Transformation franchise because it demonstrates the consumer’s interest in re-investing in their home once again.
Second, the market is full of professionals who may have taken an early retirement or have been downsized. Many of those professionals have strong business acumen, having managed departments or business units, oversaw multi-million dollar operations and staff. Third, and critically important, is the fact that capital is beginning to flow into the small business marketplace as community banks gain new investors, credit unions begin to showcase their appetite for small business investment and big banks loosen up their more recent rigid standards.
Recession Usually Signals Growth in Small Business
Throughout each of the last few economic downturns, an emergence of small businesses, in particular franchising, fills the holes of unemployment. According to the U.S. Department of Commerce, 90 percent of franchises are still in operation after 10 years, compared to just 18 percent of other forms of small businesses. For potential entrepreneurs, becoming a franchisee can help to minimize some of the stress of owning a business, as franchisors assist with finding the best location, negotiating a lease, hiring reliable contractors and staying within a set budget.
“We have a real window of opportunity to scale our company because the market is ripe with two classes of potential franchisees. We are seeing experienced franchisees in industries like quick service and fast casual restaurants feeling like it’s the ideal time to exit those overly competitive businesses and move into a higher AUV business where they immediately recognize the competitive differences we have,” explains Mark Johnson, chief executive officer of Granite Transformations. “And because our business is about managing staff, contractors, schedules, projects, we feel there’s an overflow of talent out there in every corner of the U.S. Couple that with signs of the financial markets releasing capital for qualified small businesses, our biggest challenge in 2011 may be managing growth.”
Applying Business Practices to a Franchise
In order to become a part of the brand, Granite Transformations requires all future franchisees to take a personality test, or CHALLY. This test measures the personality, business acumen and history of each potential owner and matches it to success points from each of its current franchisees. This test gives Granite Transformations insight to know who will be successful with the brand, and protects potential franchisees by letting them know if it is a good fit. Contrary to people’s perceptions, the most successful Granite Transformations franchisees do not come from the home construction industry, but corporate environments.
Granite Transformations recognizes the importance of being a solid franchisor and attributes its success to its franchise advisory council (FAC) and best practice panel (BPP). The FAC & BPP are critical to the franchise system as it gives a voice to the franchisees, opinions that Granite Transformations believes is vital to the progress of the franchise. In addition, the FAC and BPP are critical in retaining franchisees, offering training, development and marketing assistance to each location.
Opportunities for Veterans
Recognized by G.I. Jobs magazine as a “Military Friendly Franchise” for 2010 and selected as one of the “50 Top Franchises for Veterans” by World Franchising Network, Granite Transformations is focused on rewarding those who have sacrificed so much by offering a special discount to veterans interested in owning a Granite Transformations franchise. Veterans receive 50 percent off the franchising fee, which ranges from $25,000 - $75,000.
“Based on our experience, veterans have those same strong professional attributes – organized and disciplined with amazing people management skills that make outstanding Granite Transformations franchisees,” notes Johnson. “By providing this discount, it is a win-win situation for our organization. We are able to help veterans start their own successful business and in return we get a dedicated, hard working, long-term individual who becomes a successful part of the Granite Transformations brand.”
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ABOUT GRANITE TRANSFORMATIONS
With U.S. offices based in Miramar, Fla., Granite Transformations, a division of Trend USA, has facilities and showrooms around the world offering new and exciting alternatives to traditional countertops, backsplashes, floors and more. The first Granite Transformations franchise opened in 1996 in Perth, Australia. Consumer response to the revolutionary resurfacing process was overwhelming resulting in growth across Australia and New Zealand. With the first U.S. offices opening in 2001, Granite Transformations now has nearly 90 showrooms across North America with more showrooms opening every year. In 2004, the company began UK operations and is now also growing throughout Europe. In addition to easy installation and beautiful surfaces, the company also offers its customers the convenience of quality cabinet refacing and acrylic tub liners.
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