The benefits of a business with multiple revenue streams

As threats come at business owners from all angles, in every shape and size, it’s important they have a variety of income streams to increase their chances of success. Then, in the event that one of those streams gets compromised, it’s quick and easy to shift focus to alternative streams and maintain a sustainable level of income. With many businesses introducing new ways to generate income in 2020, Julie Clabby, Founder of Busylizzy Family Club, shares her advice on why this element should be a key consideration for prospective franchisees.

Just like we’ve seen with the COVID-19 pandemic, there’s no prediction for when something can come along and impact our business,” said Julie. “What we can do, however, is be clever with our service offering. There are many reasons why a franchise with multiple income streams is advantageous for franchisees – not just for survival, but growth too.

Reduced Risk
Your business will be less exposed to financial risk. When there’s more than one strategy for generating income, your business is less likely to come under threat. Giving customers the ability to buy in person and online whilst also offering a hybrid of online and in-person classes enables franchise owners to quickly change tact when needed.

Tried and tested
Before the franchise model was established, Busylizzy was tried and tested by the franchisor with two pilot franchise operations in Surrey. This allowed the franchisor to stress test the membership model flexibility & pricing, add, amend and produce the timetable/class provision and create an operations manual packed with very specific business know how, user guides and processes. Franchise owners receive training on all aspects of running a franchise including CRM system management, marketing & social media planning, timetabling & instructor recruiting, venue selection and much more. Each new franchise owner receives all the kit required to operate the business as well as the use of thousands of marketing assets, corporate photos, images and campaigns. It’s a business in a box!

Flexible working
Once the business is established, franchise owners are encouraged to take on an Office Manager, allowing them to enjoy the freedom of not having to be too heavily involved in all the day-to-day operations. Whether this means taking time out with your family or concentrating your energy into other aspects such as scaling up the business, planning a fundraising event or marketing campaign, you will have the flexibility to do such things.

Room to grow
There’s no limit to the number of members or classes you can have. We will equip you with the tools, systems and support that allow you to attract your customers but it’s then up to you on whether you want to branch out further, open more venues or operate a smaller niche club. If you identify a local opportunity and you’re not sure whether it will be profitable, you have your franchisor and your network of fellow franchisees to talk it through with. You are in business for yourself but never by yourself.

If you would like to explore the opportunity of become part of our franchise network, we would love to hear from you.