Attend any business start-up workshop, convention, forum and speed is all the rage.
What app can you make? How quickly can you build it? Who will buy it? What can you sell it for?
It leaves my head spinning!
I’ve personally been more of a fan of the slow growth business plan, which we’re finding is pretty rare here in our new ventures into the franchising world.
We’ll be opening one Little Nest franchise this year, and two next year. Each year afterwards the plan is to open only two more territories a year. This may sound like a lot, but most of the franchise experts and consultants we’ve spoken to are used to going out fast and hard – trying to open hundreds within a span of 3-5 years and most likely creating a lot of chaos in it’s wake.
To me, a successful growth plan takes into consideration not only the needs of the customer, but the employees as well. Fast growing start-ups tend to be very difficult on team members and their families. We need our team members to help shape and develop growth strategies as a collaborative effort to train new brand partners. In addition we have to prioritize taking care of the current customers so we don’t ignore what is already working within the core business.
Each Little Nest location grows anywhere between 12-18% per year and I’m pretty damn proud of that. Are we double and tripling sales every year? No. But to me, that’s no where near as sustainable as creating continued value for our customers while prioritizing the employee experience at Little Nest.