Although success can never be totally guaranteed, working with a franchisor greatly increases your chances at business success. Think about it like hiking through a thick forest. If you are hiking where there is no trail, the going will be slow and you will be walking blindly. Conversely, if you are following a trail, the going is much easier and you can see where you are walking.
The franchisor is like that trail, giving franchisees an easier way through the forest of business so they can get to their destination of success. There may still be some trees fallen over the path and there may be some muddy spots, but an entrepreneur will still have a much easier time moving toward success by using the trail.
You can think of this trail as consisting of four parts:
- Training & Support
- Grand Opening
- Ongoing Support
Let’s take a look at how each of these parts lays out a path to success for you as an entrepreneur.
This is where you get to find out if you and the franchise are good fits for each other. Imagine you’re at the trailhead looking at the map of the trail, the distance, the potential challenges in the terrain, the different ways you could go. You make a decision about whether you want to try this trail or try a different one based on what you see on the map.
Maybe the most important stage, this could save you a lot of trouble before you even begin. If you and the franchise are a good fit, the chances of becoming successful are much greater than if you are not a good fit for each other.
FranNet does what could be considered a pre-vetting where we suggest franchises that we believe would be a good fit for you.
2. Training & Support
You’ve decided to give this trail a go and you gather everything you need for a nice hike: sturdy shoes, water, some light snacks, bug spray, sunscreen, a hat, sunglasses, etc. With all of this equipment, you should have no problem hiking this trail.
Similarly, a franchise will give you the training and support you need to be successful on your business journey. They’ll make sure you fully understand how their business model works so you can replicate it successfully. And, if necessary, they may help you find a building to lease or help you build a whole new building.
The franchise will likely also provide training to your managers and will have resources you can tap into for training your staff and some franchises will have their own people come out to your location for staff training.
3. Grand Opening
The trail starts off on nice level ground and the walking is easy. You build up a nice rhythm and are going at a steady pace. You know that the entire trail isn’t like this, but the going is easy so far.
To help you build momentum, a franchisor will help you make a big splash with your grand opening. Generally, they’ll send someone out weeks in advance of your grand opening to walk you through it and that person will stay with you until a week or so afterward to make sure everything goes smoothly. They’ll tell you what marketing and promotion you need to do, they’ll help you train up your staff and work out any glitches that occur.
4. Ongoing Support
You’ve come to a big rock in the middle of the trail, but someone has cut a path through the bush so you can walk around it, then you encounter a tree that has fallen across the trail, but someone has cut through it so you can pass easily. You come to a steep rock face that you have to scramble up, but someone has pegged a rope into the rock wall so you can hold onto it and pull yourself up as you go.
After you’ve got some momentum with your grand opening, your franchisor will let you run your business with a regular check-in to see how you’re doing. They will help you with the marketing, the promotion and perhaps some administrative work like taking incoming calls. You’ll get regular visits from your regional developer who acts like an individual business coach and you can bask in the familial atmosphere of the franchise at its annual convention. There are myriad ways a franchisor supports their franchisees on an ongoing basis.
After much hiking, overcoming obstacles and a bit of resting here and there, you finally reach your destination; success.
If you’re ready to get started down the path of success with a franchise, sign up for a free FranNet franchise search and consultation today. We would be delighted to help you take that first step.