A franchise business is the smart way to go into business and there are many studies that reflect the success rates in franchising versus having an independent business.
The franchiser has invested time, money and other resources to create a business model that has the greatest chance of success. All this intellectual capital and know-how is now offered to franchisees to create their own successful business in their communities.
You receive the benefit of the research that has been done, training is provided, supplier relationships are established at bulk pricing and on-going training and support will continue to be provided and above all, there is a recognized brand under which you operate.
Over the years, from a few short-sighted people I have heard 'but I have to pay all these fees'. Let me tell you, that is the best money you will spend provided you avail yourself of all the resources your franchise provides you.
To be handed a formula for operating a business that gives you the greatest chance of success, with a franchise team behind you that is interested in your success, any fees you pay is small compared to having the odds of business success tilted in your favor. This is not to suggest that just by joining a franchise you will be successful. As the adage, 'you can lead a horse to water but you cannot make him drink', so to in franchising, you can be handed the perfect formula for operating a business, but you have to take responsibility for following the formula to the best of your ability.
When I had my American Wholesale Thermographers franchise and I was the largest franchisee world-wide, I would have people ask of the benefit of the franchise to me, after all the closest franchisee was about ½ my size in volume. There were several reasons for my loyalty to my franchise:
- I had become a successful business owner because of what the franchise had taught me,
- I had the benefit of listening to and being heard by the top minds in franchising, where else would you get such advice and guidance,
- I had other franchisees, who understood the business and were available to help and guide me and
- I enjoyed and valued all the benefits the franchise offered to me.
0 comments:
Post a Comment