How a Franchise Agreement and a Franchise Disclosure Document differ
There are two documents that are of vital importance...
If you’ve come to the BeTheBoss.ca website or receive the Franchise Flicker email, you are likely exploring what franchise you would like to buy. This is a big decision and there are so many options to choose from that it may be quite overwhelming for you.
A good starting place is to ask yourself: What franchise brands are you currently a customer of? Of these businesses, which ones do you continue to buy from and why?
Going through this process will help you become clear about how important it is to have a connection with the franchise brand you purchase. For example, Brad McLeod was a customer and huge fan of C-Lovers Fish and Chips. Now he owns three locations.
When it comes to owning a franchise, one of the key factors is that you truly love the brand you buy. Being open to brands you are not familiar with is fine if you feel you are able to get enough advance exposure to that brand to see if it is a good fit before you make your final commitment. Cobs Bread is a great example of a successful and emerging franchise brand. They work closely with their star candidates to make sure they are a good fit and that they are in love with the brand, concept and system prior to signing on the dotted line.
Feeling confident about the brand and system you purchase also means your passion will be front and centre when you hire and train your staff. It all starts with you. Your enthusiasm and love of the brand will have a ripple effect on your staff as well as the customers. Your passion becomes contagious. If you feel passionate about your franchise brand, your staff will feed off your positive approach and take it on themselves. In turn, when your customers have a great brand experience, they return with more frequency and you benefit on the bottom line.
Another aspect of loving the franchise brand is tied to the speed bumps that inevitably come with starting and operating any business. There will be great days and days that suck. When you are confident in the brand and system you purchased, you can witness others who have been through what you are going through and are successful within the franchise system you bought into. They too are brand lovers who have followed the systems and weathered the test of time and commitment.
When you choose a brand you love, there is a higher level of commitment from you, your staff and your customers for your business to succeed.
