5 Truths Successful Franchisees Live By
New or experienced – we’ve all been at the point where we wonder: “Am I cut out for this? Will I be good at this? Do I fit the bill?” We’re here to let you know that if you’ve made it this far, the answer is a resounding ‘yes.’
Here are 5 truths successful franchisees live by:
You Get to Define Your Potential –You may not have a business degree, much experience with franchises, or even a passion for your particular business. None of this should discourage you from making your goals a reality. Historically, many who became the best in their fields never thought they would be doing what we know them best for now – so what they studied, whether or not they studied, did not ultimately matter for what they ended up doing. Do not let standards, what your neighbors or coworkers say, or what television has taught you change your mind or discourage you. If you have the drive, you will find a way to make it work.
Balance is Key – “I’ll sleep when I’m dead.” How many times have we heard that? Said it ourselves? While hard work is commendable, balance is important. This lack of work-life balance can create stress and tension as well as an unhealthy work environment for you and your employees. Likewise, the alternative is true. If you are happier, the company culture you create will shine out from your employees and into the front of house. Whatever your attitude, your customers will feel it too.
Staying Positive Keeps You At The Top – When we want to improve, it can be tempting to focus on the negative. While it is important to recognize where things are going wrong, it is unproductive and toxic to keep a negative outlook. We want successful franchises, so how else are we supposed to improve? Staying positive doesn’t mean ignoring the negative. It does, however, mean giving ample time to focus on the good as well – what is working, what can you do more of, what the customers react well to. Your franchise can benefit from knowing the good just as much, if not more, than from knowing the bad.
Teamwork Makes The Dream Work – Being the boss does not mean doing it all on your own. In fact, it means the opposite. As the boss, you have the ability and expectation to delegate, so do so. It can be tempting to try and control everything but remember – if you hired a capable team, they should be able to do exactly what you hired them to. Trust your team and let them do their job. They may surprise you and exceed expectations.
Talk Is Cheap (Free Advertising), So Give Them Something to Talk About – What do you want people to think about when they leave your business? What will your customers take away? Give them something to talk about. Create an experience. We live in a world of instant everything – phones in our hands that can bring us the world with 2-day shipping if we want. This is why what you’re selling is only half as important as the environment you are cultivating for your customers and employees.
Studies show that the vast majority of us would rather work for ourselves than for anyone else. So why doesn’t everybody go out and start their own businesses? It’s usually because of fear.
Entering into any new business venture is a process; here are some of the major steps along the way:
The reason many people are attracted to franchising is to mitigate their risk in starting their own business. And when you buy a franchise, you are really purchasing a process, one that has already been tested and proven to work.
Remember Mr. Rogers? He said something that is most appropriate this week as we all struggle with the tragedy at Newtown:
Finding a franchise opportunity that makes sense for your own goals and passions is important, but of equal importance is to find a franchisor that reflects your own values and has a real passion for the brand.
Work-from-home scams are a dime a dozen on the Internet these days, yet people are still falling for them because their desire to earn their living while working from home is so strong. 
According to a new report from Franchise Business Review, low-cost franchises – those that demand an investment of less than $100,000 — have realized significant gains in popularity during the recent economic downturn and are positioned for strong growth as the economic recovery strengthens.