If
you're thinking about becoming a franchise owner, it's helpful to not only hear
from someone who has been in the same position, but to hear from someone who's
found success as a franchisee. Based on interviews with multiple people who fit
that description, here are the most important things to keep in mind as you
continue the process of deciding if becoming a franchise owner is the right
path for you to follow:
A
Desire to Focus on Your Strengths
You're
going to bring a certain skill set to your role as a franchise owner. The big
advantage of going the route of a franchise is that you'll be working from a
foundation and framework. As a result, you'll be able to focus on your
strengths. If that arrangement sounds appealing, you can be confident that
you're going to like the daily experience of being a franchise owner.
Choose
a Franchisor Who's Committed to Educating
A
big part of what determines the success of a franchise is being able to take a
business model and successfully replicate it multiple times. Since this
requires the franchisor to share their knowledge with new owners, it's
important to choose an organization that has ongoing education and training at
its core.
Do
Your Research
Most
successful franchisees make a point of emphasizing the importance of doing as
much research as possible before committing to a franchise. Not only do you
want to fully research an organization, but you also want to dig into the
entire market and all of the competitors within it. By putting in as much
effort as it takes during this phase, you'll be able to ensure that you know
exactly what you're getting into.
Be
Ready for Challenges
There's
no doubt that choosing a franchise will create a smoother path than trying to
start a business from scratch. That being said, since a franchise is still a
business, there will be challenges along the way. Because challenges are
inevitable, the important thing is that you're willing to tackle them whenever
they arise.
There
Needs to Be a Spark
Although
passion isn't the only factor that determines the success of a franchisee, it
does have a big impact. Since you're going to be involved with the business you
choose on a daily basis, you need to feel excitement about everything that it
stands for.
Be
Honest with Your Strengths
A
good franchisor will provide an overview of the qualities that their successful
owners possess. As you look over this type of profile, be honest with yourself
about whether or not you fit it. This will ensure you don't inadvertently
create an uphill battle for yourself.
Make
Efficiency a Top Priority
Since
owning a franchise is a significant commitment, focus your energy on activities
and tasks that have a direct impact on the success of your business. Keeping
this focus will prevent you from wasting time on things that are actually
nothing more than busy work.
For more information about a House Doctors Franchise, call 1-888-598-5297 or click the Request Information button here:
Hi Jim,
ReplyDeleteThanks for a terrific and artfully written piece that really sums up the franchisee decision and intent in moving forward.
- Jeannie, Franchise Specialist with www.jensmartfranchising.com