It happens all the time.
Many people say they have always wanted to own their own business, but few follow through. One of the most common reasons they give is that they have never owned a business. “How will I know all the things I’ll need to do?”, they ask. “I’m a good manager. But there are so many other things involved in owning a business. How will I know how to do those?”
And that, ladies and gentlemen, captures the reason to invest in a franchise. With a franchise, the franchise company will train you in all of the things you’ll need to know. And they will help and support you after you get started.
Nobody has mastered all of the different skills needed to successfully start, grow, and run a business. But with a franchise, you don’t have to know all of that before you start.
Three quarters of all people who start a franchise have no experience at all in that industry. But because of the training and support they get, these people build successful, profitable, long-lasting businesses. These franchises out-perform even established independent competitors.
Franchises consistently have greater revenues and profits than independents. How do they accomplish this? Because the franchise company trains and supports the owners.
In most franchise companies you have support across all crucial areas of the business. Whether it is technology, or staffing, or sales, or human resources, or advertising – or even all of these – the franchise company will have staff who are knowledgeable and experienced.
No, you won’t magically become an expert in all of these areas. But you will be able to perform as if you are an expert. Because you will have access to the franchisor’s staff. This staff will help you every step of the way, both before and after you get started.
Are you one of the people who is concerned they don’t have a broad enough range of skills to ensure their success as a business ownership? That is a very valid concern. Quite simply, it’s hard to be a master of all skills.
If you get into business by starting a franchise, you will not need to be the master of all of the necessary skills. The franchisor will be there to help, train, and support you. Every step of the way.
This guest post is by Dan Citrenbaum, a Franchise Coach and Entrepreneurial Consultant. Find Dan at www.EnterpreneurOption.com.