Choosing a profitable franchise When thinking...
Be The Boss Expert Wayne Maillet discusses what every entrepreneur who is looking to get into franchising:
All of these factors will contribute to your business success, but none will have value if the one key ingredient is missing. What is really takes to be successful in business is – CUSTOMERS. Without a focus on the customer, your business will not succeed, no matter how great your leadership skills, how perfect the location or extensive your product knowledge.
The entire purpose of business is to attract and keep customers. It should become the focus of everything you do. Look at mission statements of most successful organizations, and there is a focus on the customer. Successful organizations create a customer-focused culture. Key attributes to this culture include;
The true measure of your success and commitment to having a customer driven culture ultimately is measured by the customers themselves.Perception is reality. They will tell you if you are doing well by frequenting your establishment and place of business. If they do not feel their needs are being met, they simply go somewhere else. If they are receiving poor value, and you are lucky, the customer will sometimes tell you. Unfortunately, only 4% will complain. 96% will leave without complaining. More often, they won’t tell you, but instead their friends and acquaintances. Statistics show that an unhappy customer will tell on average 8 to 10 people of their unpleasant experience.
Franchising offers you an opportunity to capitalize on someone else’s customer- the franchisor and its brand. The franchisor, or parent company of the franchise opportunity, has invested time, resources and money towards creating and nurturing a brand. The marketing around the brand helps to attract customers. The operating system is designed to keep customers by providing them with a consistent positive experience that ideally exceeds their expectations. By following the established marketing programs and operating systems, you are able to get into business and achieve success quickly because there is an established customer base to draw from. Think of franchising as a license to service the customers of an established brand. What a wonderful way to start a business opportunity!
If you are looking to get into business for yourself, remember what it takes to be successful in business- CUSTOMERS. Whether with a franchise business, or as an independent, create a customer driven culture and your business will be on its way to success!
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