Do your Franchise Expectations match Reality?

The average person on the street may have a general idea about what franchising is, but most people don’t have an in-depth understanding. And that makes sense.  Why would they know, if they’ve never explored it in detail?

If you’re seriously looking at business opportunities, the term franchising will inevitably pop up. You may do some digging and learn the franchising basics such as brand consistency, brand recognition, support, higher chances of success and the groundwork having already been done for you.

You’ll hear expressions like ‘safety net’, ‘turnkey system’ and ‘in business for yourself, not by yourself’ and may then get the impression that franchising is easy, less work than an independent business and that success is simple and guaranteed.

We often see potential franchisees looking for franchises with stars in their eyes, thinking that they have found the key to instant and sure-fire success.

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Well, it’s not as simple as that.

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Here are the real goods on Franchising:

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• Established Franchisors provide a tested business model

• They will provide a playbook and operations and training manuals

• Their team will provide support and ongoing coaching

• They may supply broad-level marketing and technology platforms

• You will be part of a (hopefully) supportive community of franchisees of that brand

• You will increase your chances of success by following the roadmap

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So, it all sounds great – what’s the catch?

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The catch is that YOU STILL HAVE TO PUT IN THE WORK. Support doesn’t mean that they will do it for you. They won’t, nor should they. It’s your business.  Like in any business, you still must learn the ropes and dedicate your time, energy and passion to the business for it  to thrive.  You will still have late some nights and early mornings, still have to deal with everything from staffing and inventory to customer personalities and problem-solving, but it will be yours, and you will be proud of it because it’s YOU that makes it happen.

Yes, with a franchise you will avoid most of the guesswork and many of the pitfalls of starting from scratch, and yes, you will have a structure in place and a team to help guide you through some rough patches, and that’s huge, but you still need to show up and make it happen every day, because that’s what your business needs.

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The moral of the story

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Franchising isn’t a guaranteed ticket to success, but if you follow the rules, put in the hard work and use the tools provided, a well-researched franchise opportunity can offer you a great lifestyle, flexibility, a business that you truly enjoy, and solid foundation that you can take to all the way to success.

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