Let’s face it, a franchise is a lot easier to make a success than starting from scratch and attempting to build a brand, and with so many successful brands that are looking to expand, it makes a whole lot of sense to go with a successful business model. There are over 4,000 franchises in the US alone and that gives you many choices.
Is franchising right for me?
This is the first question to address; regardless of the many franchise opportunities out there, are you suited for this type of business? Are you service minded and do you have the dedication to make it happen? Some people mistakenly think that everything is done for them by the mother company, which is certainly not the case. The franchise operator gives you all the tools you need to be successful but at the end of the day, it is you who has to make it happen. The best way forward is to contact a franchise consultant and let the expert assess you; should you have what it takes, the consultant will help you choose the right franchise.
Total in-house support
Franchising is a win-win for both parties; the franchiser wants your branch to be a success and further cement the brand – he wants success as much as you – plus they have all the tools and a winning business model, which you have to follow. It should be understood that you will have no control over certain aspects of the franchise; their model works but only when followed to the letter.
Significant investment
Any franchise is going to involve a considerable investment on your part, which should be all the motivation you need to ensure you give 100% to the venture. There’s no halfway with franchising and it might take a couple of years to become established, when you need help, the franchiser is always at hand; you have a dedicated manager in your corner.
You may have heard of franchise fails, which are usually because the franchisee did not do their homework and they weren’t suitable; you can avoid this by using a consultant with many years of hands-on experience; a professional who isn’t going to give you the wrong advice.
If you think a franchise might be the answer to your prayers, Google ‘franchise consultants, US’ and start reading.