Apricot Lane is thrilled to be chosen as a feature in Franchising Today. In an exclusive interview with our founder, Ken Petersen, the online magazine got to learn about what makes our brand tick. You can read the full feature here.
“We Are Perfectly Positioned” at Apricot Lane Boutique
There are three main things that set Apricot Lane apart in the vast women’s fashion industry: Our customer base, our size, and our inventory.
- Customer Base—Petersen, our founder, acknowledges that there are a lot of successful fashion retailers targeting juniors and adult women separately, but there aren’t options that target both groups. Apricot Lane’s mother-daughter customer base is in itself unique, so we strive to cater to their needs with every style we bring to our stores.
- Store Size—The appeal of boutiques is that they offer unique items that aren’t mass produced; every item at a boutique tells a story which is what makes them so popular. On the other hand, large retailers benefit from “leveraged buying and strong technology,” as Petersen put it. Apricot Lane is able to offer both! Customers get the unique styles they love and owners get the added power of our national brand name.
- Inventory—We are able to target our mother-daughter customer base with a carefully crafted inventory that each franchise owner chooses for his or her own store. Franchisees “are ideally connected to their own customer base and orient their purchasing toward that base.”
It has always been important to Petersen—and Apricot Lane, by extension—to be unique in the industry. Our uniqueness isn’t just a competitive advantage, it is also good for our franchisees.
“We Are as Successful as Our Franchisees”
The importance of working with our franchisees to build the best possible franchise system is key to Petersen’s vision. Key to the Apricot Lane philosophy is a culture of support, which Petersen and the entire team works on with each franchisee. We are there with our owners from the beginning, and Petersen himself flies out to meet almost every prospective franchisee to make sure that the fit is just right.
Following that, our resources, training, and development teams are on hand to help franchisees with everything they need. Ultimately, Petersen sees franchise owners for what they are: independent business owners and great assets for the company. “We are as successful as our franchisees,” he explains, “We are always asking ourselves, ‘What can we do for our franchisees and therefore have everyone benefit?’”
Franchising is certainly not a new concept, but in the last few decades, it has rapidly expanded as a business strategy. Franchising Today strives to keep franchise executives, franchisees, and people interested in becoming franchise owners in the know about what is going on in the industry.
Anyone involved or interested in franchising can learn a lot from Franchising Today’s website or printed publication. Each issue features several successful franchise owners in addition to brand profiles like Apricot Lane’s. These profiles inspire potential franchisees and keep executives up-to-date on trends and changes in the industry.
At the end of the day, Petersen is happy to expand his business and give franchisees the opportunity to own their own businesses in turn. “My philosophy is ‘we don’t own any of this.’ The question is ‘what do we do with this while we have it?’”
Get more information about joining Apricot Lane as a franchisee by downloading our e-book!