In my last couple of blogs, I talked about some of the myths or misconception some people have about franchising. Now I would like to address some of the benefits of franchise ownership.
A plethora of business concepts available
Unlike a start-up business where there are many unknowns, a franchise business model available today has been proven and successful elsewhere and by many different management styles. There are over 5000 different franchise business for investment and if you do your research properly, you’ll find the right one to meet your lifestyle, goals and expectations.
My philosophy has always been that your business should be the vehicle to get you the lifestyle you want to live. Once you decide what you want your lifestyle to look like (working full-time, part time, passive investment) it will make it easier to pick a business concept that will give you what you are seeking.
Training for Success
Much of your success will be based on how well you stick to that formula or system in which you’ll be trained when you begin to implement the established operations plan. Adhering to the system is the best way to become profitable quickly. That’s not to say that you can’t bring your own managerial and creative ideas to the business, but straying too far from the establish formula is risky. Just one note of caution – make sure you as the owner work ‘on’ the business (making it visible in the marketplace) versus ‘in’ the business working as the technician. You can’t take your business to the next level of success if your head is buried in the operating tasks.