what should you look for in a franchise and a franchisor?
independence and structure
You want to work for yourself, but you don't want to be alone? While there are many ways to get into business for yourself buying a franchise gets you the best of both worlds.
a map for the long Journey.
The concept may sound simple, but the journey to success sometimes encounters detours. You are going to have to work hard and stay focused to reach your goals, but SearchPath gives you milestones to tack against and the tools to get there.
One of the most critical services that a franchisor provides is training. For some franchises, the programs turn out cookie-cutter franchise owners, which in many cases is just what is needed. But not everyone learns the same way. Good franchise systems have a structure that considers prior experience and knowledge as a base point in training. SearchPath helps you learn your way.
ongoing operational support
How does the franchisor that you are looking at provide support? They should have a structure for ongoing support and a track record of not being intrusive. They should offer a knowledgeable Headquarters team and a network of peers willing to help, or even listen, these are key elements to a good program.
Starting a business is not cheap and when you add in a franchise fee it can seem daunting. The advantage of going with a franchisor is that they have already mapped out the expenses that you might face and have milestones and systems in place to help you control your exposure.
Startups in business are both exciting and scary at the same time. Starting with a franchise that has a proven model, that has evolved with the times, can give you the confidence that you will be ready for the future. The franchisor should also have a system for sharing best practices through live meetings, webinars, and training materials.
marketing and technical support
In today's world, the lines can sometimes be blurry between marketing and tech support. With more and more marketing being done directly to the consumer via social networks and other web tools, a franchisor needs to have the tools to maximize exposure.
When you go into business for yourself, by yourself, your growth has the potential for limiting factors. A good franchisor makes growth easy. They should encourage flexibility for multiple locations, multiple revenue streams, and employee growth tracks, whatever factors make sense for you.
At both the franchisor and franchisee levels, make sure that there is a connection. You got into this to not be alone. Find a franchise where the network culture fits yours.