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Opening another location 7 hours away?

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Kokaka

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Hi all.
So as some of you know, Im in the beauty business and am currently looking to open my second beauty clinic.
I have one clinic at the moment and my goal is to open 20 clinics.
I have been working to open my second in a city that is 1 hour away but it seems this deal will be to expensive since I have to invest 100k in just reforming the current shop to a clinic.

However, yesterday I found out that a former beauty clinic in the city I was born in has become vacant. I know the place very well and its an AAA location and I just have to get the key and open with 0(!) expenses.
Problem is, its 7 hours away from where I live.
Solution to this is to find someone to take responsibility for the place and run it for me, with tje responsibility reflects in his/her salary.

So does anyone have any input on this. Take it or wait for something that will cost 50-60k to reform and is closer?
 

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OMJ

[B...{r<°∆°>}--O--{<°∆°>k}...E]
Read Millionaire Fastlane
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Hi all.
So as some of you know, Im in the beauty business and am currently looking to open my second beauty clinic.
I have one clinic at the moment and my goal is to open 20 clinics.
I have been working to open my second in a city that is 1 hour away but it seems this deal will be to expensive since I have to invest 100k in just reforming the current shop to a clinic.

However, yesterday I found out that a former beauty clinic in the city I was born in has become vacant. I know the place very well and its an AAA location and I just have to get the key and open with 0(!) expenses.
Problem is, its 7 hours away from where I live.
Solution to this is to find someone to take responsibility for the place and run it for me, with tje responsibility reflects in his/her salary.

So does anyone have any input on this. Take it or wait for something that will cost 50-60k to reform and is closer?
You could the Weighted Avenger Decision Maker from TMF .

Other than mentioned, what are other downsides?
 

Kokaka

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Aug 9, 2019
155
108
75
You could the Weighted Avenger Decision Maker from TMF .

Other than mentioned, what are other downsides?
Thanks. Will check it out.
The downsides is only the distance.
Because everything is electronic now. Be it payment, customer register and journals. It is mitigated.
I also just saw that on the city next to the 7 hour away city. There is a similar local ready so even more advantages.
 

OMJ

[B...{r<°∆°>}--O--{<°∆°>k}...E]
Read Millionaire Fastlane
Speedway Pass
Feb 2, 2020
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977
Thanks. Will check it out.
The downsides is only the distance.
Because everything is electronic now. Be it payment, customer register and journals. It is mitigated.
I also just saw that on the city next to the 7 hour away city. There is a similar local ready so even more advantages.
What specifically makes distance a downside?
Do you need to make regular visits or do you need to work in your clinics?
Won't be easy with a planned 20 locations even if they're in the same city.

Or is it just psychological?
It's like when you need to make long car journey you suddenly think about breakdowns even though a breakdown 1 hour from home is a major inconvenience.
 

Kokaka

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Aug 9, 2019
155
108
75
What specifically makes distance a downside?
Do you need to make regular visits or do you need to work in your clinics?
Won't be easy with a planned 20 locations even if they're in the same city.

Or is it just psychological?
It's like when you need to make long car journey you suddenly think about breakdowns even though a breakdown 1 hour from home is a major inconvenience.

What specifically makes distance a downside?
Do you need to make regular visits or do you need to work in your clinics?
Won't be easy with a planned 20 locations even if they're in the same city.

Or is it just psychological?
It's like when you need to make long car journey you suddenly think about breakdowns even though a breakdown 1 hour from home is a major inconvenience.
Its most psychological I believe.
I dont have to be at any clinics because they will work as independent businesses and I structure them like franchise agreements but I own the place.
Get one manager who will run it and get a bonus each quarter depending how the clinic runs.
Because everything is online now. I will have almost the same control as I have now.
The only downside is that I cant frequently visit the place and hence lower "controll". It will also be my second clinic so there is that.
If I where to have 3-4 close by to try the concrpt on a larger scale it would be a no brainer to get the place.
Now, it just feel like a big jump to try an unproven concept (scale) with this big of a distance apart.
 

WestCoast

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Currently Traveling
We're looking to open our next location 4 hours away.

By plane.

--
It's 2021, with technology, distance is no factor to expansion.

We do consider:
- Time zone differences for meetings/company communications.
- Shipping costs/logistics (if physical product)
- Cultural differences for different parts of country (or city/rural, etc)

Technology means you can install cameras if you want (I never would, but you could)
You can do remote phone calls with the staff.
All payments are electronic, banking and all that can happen in your HQ, not there.
You can visit once a month, or even once a quarter after a while...


No factor with some basic systems, tools and *mentality*.
 

OMJ

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Kokaka

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Aug 9, 2019
155
108
75
We're looking to open our next location 4 hours away.

By plane.

--
It's 2021, with technology, distance is no factor to expansion.

We do consider:
- Time zone differences for meetings/company communications.
- Shipping costs/logistics (if physical product)
- Cultural differences for different parts of country (or city/rural, etc)

Technology means you can install cameras if you want (I never would, but you could)
You can do remote phone calls with the staff.
All payments are electronic, banking and all that can happen in your HQ, not there.
You can visit once a month, or even once a quarter after a while...


No factor with some basic systems, tools and *mentality*.
Thanks. May I asked your thought process when you decided to open so far away.
How are you able to maintain controll and that your product meet your expectations?
First problem solved.

Yes, it's always sentimental in the beginning.
Thanks guys.
For this business, it is just copy everything we have made uptil now just one more time.
It seems almost too easy to do it and it makes me worry. I can either be stupid for not realising or smart for have developed a system I can easily copy.
 

Antifragile

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Vancouver, BC, Canada
Hi all.
So as some of you know, Im in the beauty business and am currently looking to open my second beauty clinic.
I have one clinic at the moment and my goal is to open 20 clinics.
I have been working to open my second in a city that is 1 hour away but it seems this deal will be to expensive since I have to invest 100k in just reforming the current shop to a clinic.

However, yesterday I found out that a former beauty clinic in the city I was born in has become vacant. I know the place very well and its an AAA location and I just have to get the key and open with 0(!) expenses.
Problem is, its 7 hours away from where I live.
Solution to this is to find someone to take responsibility for the place and run it for me, with tje responsibility reflects in his/her salary.

So does anyone have any input on this. Take it or wait for something that will cost 50-60k to reform and is closer?

I was close with Sy Sperling before he passed away. He shared many stories about his start with “the hair club for men”.
first 5 locations were harder to manage than the next 30.
I would not recommend you running a location 7 hrs away, unless you already have reliable team willing to move and make it work just like your current location.
Down the road, you’ll be able to do this, when your team grows.
Just my 0.02 cents.
 

Kokaka

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Aug 9, 2019
155
108
75
I was close with Sy Sperling before he passed away. He shared many stories about his start with “the hair club for men”.
first 5 locations were harder to manage than the next 30.
I would not recommend you running a location 7 hrs away, unless you already have reliable team willing to move and make it work just like your current location.
Down the road, you’ll be able to do this, when your team grows.
Just my 0.02 cents.
Yes this is what Im afraid of.
Because its a service business the staff is paramount and the bwtter the staff, the easier it is to manage.

What I want to do is do some ads that Im looking for a clinic manager and beauticians.
If someone good send in an aplication, I will meet them and see if I take it further. But I think I can only open like this if I find a dream team
 

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