Why Networking Will Play a Key Role in Your Business Ownership

As we always say at FranNet of DFW & Oklahoma, determining which franchise is right for you is the most important decision you’ll make on your own personal entrepreneurial journey. With thousands of concepts to choose from, it’s important to find a business that matches up well with your strengths, lifestyle, and income-generating capability. The savviest of candidates typically look at the brand’s performance, gauging whether or not they can effectively market the product or service in their own community. And to do that well, you need to master your networking abilities.


When you own a business, you become the face of that business. Your ability to connect with others and promote the value proposition of your product or service will determine the level of success you’ll enjoy. Some people are naturally good at networking, while others could benefit from some pointers. Regardless of your experience in this area, FranNet of DFW & Oklahoma is here to share some great advice on how networking will play a key role in your business ownership.


Incremental Business Growth

First and foremost, networking is applied to facilitate incremental business growth for your franchise operation. As the owner, you’re responsible for working together with the corporate office to follow through on lead generation. Some franchisors have complex, technology-driven systems that help introduce you and your product and/or service to potential clients in your local community. Others require a bit more footwork on your behalf, which means putting yourself out there to knock on doors, make sales calls, and let your target market know you’ve set up shop. Even still, when you follow the proven business models provided by your franchisor, networking should be the easy part.


Referral Business

Not all of your initial sales calls will result in a new client, but more often than not, networking can still lead to referrals. There are countless marketing studies that speak to the value of networking and how many leads add up to a sale or new client. But at the heart of this effort is you and the way you present yourself on behalf of your new business. Many people have heard the old adage in the sales industry that clients aren’t necessarily buying your product or service – what they’re really buying is you. And to get the referral business you need, networking will play a crucial role.


Getting Started on the Right Foot…

Many franchisors include procedures for making yourself known in your local business community. Joining the local Chamber of Commerce, Rotary Clubs, and other civic-minded organizations are always a great place to start. Then there are trade associations, of which joining should already be part of the brand’s operational procedures. These are the places where you can begin adding to your own personal network and meeting influential people who may one day become a client, partner, vendor, or supplier. Most business that’s conducted on the local level is known as a two-way street. It’s what you can do for each other that builds a healthy networking relationship.


Not everyone is cut out to be a master networker. Some are born with the interpersonal skills needed to establish a solid business network. Others have to work at it a little harder. If you find yourself in the latter category, there’s nothing wrong with seeking out a mentor or support group to help you establish your networking skill set. Even existing franchisees in your system can be an excellent starting point. Who knows? FranNet of DFW & Oklahoma may even have an influential connection who can help. Most individuals you’ll approach are typically flattered by this type of request, so don’t be hesitant to get the assistance you need in developing a solid networking acumen. Above all – be patient. Franchises, which rely on proven business models, are all built on meaningful value propositions, with enough key differentiators to convince your target market that you’re the right option for the product or service you’re selling.


It’s like they say…if you build it, they will come. So, just believe in yourself and trust the process.


Let’s Chat!

If you’d like to know more about franchise opportunities and ownership, please get in touch. FranNet of DFW & Oklahoma is uniquely qualified to match your potential with the possibilities that come from small business ownership through franchising. All you have to do is allow us to be your guide. Our no-cost, no-obligation consultations have helped hundreds of entrepreneurs in North Texas and Oklahoma secure a future that belongs to them and them alone. If you’d like to get started on your own entrepreneurial journey, we’d love to introduce you to a whole new world of possibilities through franchise ownership.

May 24, 2023