Delta Airlines Sky Magazine featured a story on the Do’s and Don’ts of Franchising.
In the feature article written by Carol Tice, TEA’s Chief Executive Officer, David E. Omholt, is widely quoted and gave a number of admonitions to prospective franchise owners:
1. Sell Yourself. Realize the franchise company is assessing you just as much as you are assessing them. Treat the process much the same as you would a job interview…and realize that there could be fierce competition vying for the same territory with the same franchise that you want. Your performance (or lack thereof) in the interview process could be the tiebreaker.
2. Keep Emotions in Check. Stay even-keeled while going through the discovery process. Don’t let you objectivity be encumbered by your emotional side. While you certainly need to have an emotional connection to the product/service/cause of the business, you always need your rational side to prevail in decisiomaking.
3. Interview the Troops on the Frontlines. Get the unvarnished truth about the week-in-the-life by speaking with actual owners. They will give you the straight scoop on how things really go down. It is very important to shadow the owners who are at or towards the top in terms of economic performance. Find out how they do it and ask yourself “could I replicate their success in my market”.
You can find the entire article by clicking here.