When you’re sitting at your desk dreaming of starting your own business, the barriers may seem as daunting as a track of high hurdles. The good news is there’s an efficient way to help you raise your odds for success: a franchise system.
With a great franchise, you gain the collective experiences of many successful business owners who over the years have helped the franchisor perfect a system, the proven procedures that provide a roadmap to long-term success.
The beauty of the system is it’s all of a piece. You follow the franchisor’s guidelines for everything from how to set up your shop, to how to train employees to how much money you should have on hand to get you through the initial startup phase. As you struggle to learn the system, a good franchise will offer lots of training and ongoing support to get you across the finish line.
While, as with everything in life, there are no guarantees, if you do your research and select a franchise that matches your skills and interest, you have a far greater chance of success than with almost any other type of new business.
Much expertise has gone into developing this system, part of the strategic positioning of the brand, but it does no good if the franchisee decides to veer away from it. So while a franchise system is one of the best ways to lower the risk for starting a business, the one rule of thumb is you must be willing and eager to follow the system. Or don’t buy a franchise.
The Beauty of a Franchise System
Upfront training
This can mean more than 50 hours in classroom learning plus more instruction on the job for you and your employees.
Ongoing support
An answer to a question is a mere phone call away. A quality franchise company will have experts to support all of your most crucial needs, whether those are staffing and training, or advertising, or sourcing inventory.
Guidelines for setting up an office/store
The franchisor will have exact specifications for the type of furniture, fixtures and supplies to purchase — as well as the number of employees you will need.
Advertising/Marketing Program
Some franchisors have national ad campaigns for which you will have to contribute, and others will help you run a local marketing program. Either way, you can be sure the franchisor will have established, proven advertising programs for you to use.
Support on leasing
Many franchisors will help you not only choose a location but also negotiate a lease. The franchisor will know what demographics make a superior location. They will share that info with you because they want your business to be in a great location.,
If you think of the system as a set of wings that will enable to you to fly, rather than a set of constraints, you will be on your way to success. But if you’re the type of person who likes to make it up as you go along, you may want to consider an independent business instead. Only then, you’ll have to develop a system of your own.
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Contact Dan Citrenbaum to help you create the career you’ve always wanted. As a franchise coach, Dan brings years of experience helping people select and buy a franchise or existing business. You can reach Dan at dcitrenbaum@gmail.com or at (215) 367-5349.
© Dan Citrenbaum 2015
This guest post is by Dan Citrenbaum, a Franchise Coach and Entrepreneurial Consultant who helps people achieve their dreams as small business owners. Find Dan at www.EnterpreneurOption.com.