Feedback Form
Home Features Mastermind Forums About Advertise Blog Network Contact Be An Author

Entrepreneurship and Franchising: Perfect Together

Entrepreneurship and Franchising: Perfect Together

For years we’ve been reading articles about a franchisor’s desire to select franchisees that are not too entrepreneurial…that are in fact interdependent rather than independent.

There is truth to this of course. Franchising as a model requires that franchisor and franchisee work together as a team. The franchisor is expected to provide the proven model, trademark, marketing image, branding, and systems…the franchisee is expected to provide intimate knowledge of their specific region, strong marketing efforts and a “follow the rules” mentality.

But in order for most prospective franchisees to take the leap into business ownership…they need to develop an entrepreneurial spirit.

Consider a prospect from my own experience in franchise sales. This prospect was well-qualified in many ways to take on franchise ownership. There was only one problem. He had a really hard time making a decision on whether or not to buy in to the opportunity.

Now, let me set the stage. He had done a thorough job of due diligence. He had reviewed the UFOC with his attorney and his spouse. He had created a list of questions for franchisees of the system, asked them, and received responses.

He had even visited two or three of these franchisees…getting a real-life feel for the workings of the business and the pros and cons of the franchise system.

Yet he felt unable to come to a decision!

As I guided him through this decision making process, I finally said this: “Your due diligence has been superb. You’ve done everything you can possibly do to get clear on this opportunity. Even though you may feel there is still one more question that will make this perfectly clear…there is no such magic question. It is truly time to come to a decision.”

“May I help you to put on your entrepreneur’s hat?”

“You know,” I continued, “each of us has to have a good bit of entrepreneurial skills in order to move into our own business.”

“Imagine that you do decide to move forward. As a franchisee, you will be required to make immediate and even long-lasting business decisions with as much confidence as possible.”

“Maybe you’ll be faced with a decision on the type of loan to pursue and its terms…or a decision on whether to lease or buy your space. Maybe you’ll be asked to make build-out decisions quickly so that you can open your unit in time for peak opportunity.”

You get the picture!

Owners of both independent and franchised businesses are called upon to make entrepreneurial decisions each and every day. Decision making is part of the package called “business ownership”.

So put on your entrepreneur’s hat, please, while pursuing the franchise purchase decision.

It may be what convinces your franchisor that you are the right one for the system.





Entrepreneurship and Franchising Perfect Together - To learn more about this author, visit Flo Schell's Website.

Like this article? Share it with your friends

Article Feedback
 Article Feedback No article feedback found.
  Leave Your Feedback
article feedback

Article Feedback
John Power
John Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website


To learn more about the Evan Elite Author Program please contact us.

About The Author


Flo Schell
(Visit Flo's Website) Flo Schell, EdM, is Founder of Franchise Coaching Systems and author of Stop Selling Start Clicking (MP Press, 2006). Ms. Schell has been featured in Success magazine and The Wall Street Journal. She is the former Vice President of Franchise Development for Sylvan Learning Systems. Sign up for free newsletters geared toward latest trends in sales and franchising at www.FloSchell.com. Learn more about her new book at www.stopsellingstartclicking.com

Flo Schell is a Gold author on EvanCarmichael.com
About The Author

View Author Blog
Franchising Coach Blog - comfortable sales and marketing tips to boost your business
Franchising Coach Blog
View Author Blog

View Author Video
View Author Video

Free Downloads


Flo Schell's

Complete
List Of
Franchises
Articles

Name
Email
If you enjoyed this article, get Flo Schell's Complete List of Franchises Articles For FREE!

More Flo Schell
Stop SellingStart Clicking
Selling from your Heart
A New Kind of Networking for Recessionary Times
Eight Steps to Nailing a Sales Call
RejectionNot Once But Twice
Finding Comfort in a Stressful World Six Communication Steps That Will Get You There
Coping With Volatility In Your Business
Entrepreneurship and Franchising Perfect Together
A Trusted Mentor Can Help You Overcome Anxiety Grief and Bullying in the Workplace
The Franchise Buying Rules Have Changed
Free Downloads


 
 
 


Evan Elite Authors
Dave Kurlan  
Kim Castle  
Joe Dager  
Evan Elite Authors

Become An Author
Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details.
Become An Author

Evan's Latest Video
Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media
Evan's Latest Video

Business Opportunities
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"

How to Start An Online Business

Click Here To Learn More
Business Opportunities



Evan's Newsletter
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
Name:
Email:
Evan`s Newsletter

Free Downloads
Why New Businesses Fail Icon Why New Businesses Fail
Managing Customer Relationships Icon Managing Customer Relationships
Make Attitude Your Ally Icon Make Attitude Your Ally
Relational Software Icon Relational Software
How To Double Your Business Icon How To Double Your Business
Free Downloads - Complete List

Entrepreneur Tools and Guides
The Top 10 ProBlogger Posts - Best Posts for Bloggers
The Top 10 ProBlogger Posts
Best Posts for Bloggers
 
The Top 10 Guy Kawasaki Posts - Best Posts for Entrepreneurs
The Top 10 Guy Kawasaki Posts
Best Posts for Entrepreneurs
 
Entrepreneur Tools and Guides

SEO For Africa
SEO For Africa
Margaret Wajja's Group Lugazi, Uganda,
Margaret Wajja's Group
Lugazi, Uganda
SEO For Africa

If I Were A Startup...
Robert Iachetta, $372k to $921k in 2 years
Robert Iachetta
$372k to $921k in 2 years
Chris Nguyen, 30+ national clients on $0
Chris Nguyen
30+ national clients on $0
If I Were A Startup... - Complete List

Famous Entrepreneurs
Tony Robbins, AR Companies
Tony Robbins
AR Companies
Russell Simmons, Rush Comm.
Russell Simmons
Rush Comm.
Famous Entrepreneurs - Complete List

Entrepreneur Advice
T. Harv Eker, Millionaire Mind
T. Harv Eker
Millionaire Mind
Brad Feld, Venture Capitalist
Brad Feld
Venture Capitalist
Entrepreneur Advice - Complete List

Popular Articles
(Premium Authors)

     Success through business planning
By Michael Miles
     Organising a corporate team building event
By Michael Miles
     Benefit from Using Business Simulation Games and Training Materials
By Michael Miles

Have A Suggestion?
Toronto Salsa Classes / Toronto Salsa Lessons Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
Have A Suggestion?

More Evan Carmichael
More Information