Franchise and the Risk of Failure
Franchise and the Risk of Failure
While failure rates for franchising in particular, are relatively low in comparison to other businesses, that doesn’t mean that failure isn’t a possibility. Small scale businesses have a tendency of coming and going on the radar of the business world along the years. The tendency of a large number of copycat businesses to appear following an initial spark of originality in the market doesn’t make things any easier when it comes to keeping your business afloat amidst the fierce and ever increasing competition.
The thing is, if you do succeed in competing with the numerous identical businesses around, that just means that you may have won the battle but definitely not the war. This because, likely an unbeatable mythical creature, you just kill it and ten more like it will pop up out of nowhere. This is mainly due to the unfortunate fact that for each innovator, there are about two dozen imitators waiting around the corner to steal ideas and then compete for rewards. However, the good news is that copycats will certainly not put as much heart and soul into their stolen ideas as much as the original creators do. If people are too lazy to come up with their own ideas, chances are they’ll be too lazy to follow any sort of ideas through to success. This leaves plenty of room to outrun the competition and defend your place in the market, even if this may take a while and an extra bit of effort.
That is mainly how the successes and failures are separated; by creativity, hard work and dedication. Keep this belief strong in your mind and you’re sure to have a successful business that will withstand the test of time and maintain a strong position in the ever changing and fickle marketplace. At the same time you will be able to maintain your integrity and self-respect as well as the unwavering respect of your peers.
Franchise and the Risk of Failure - To learn more about this author, visit Sebastien Page's Website.
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Failure is definitely a real possibility in franchising no matter how skilled a person is, especially since failure rates for small businesses are rather high, particularly in the United States. Being in charge of your own business, while an exciting thought, may not be an easy feat no matter what line of work you’re in. In fact, failure should be treated the same way you treat any other competitor; with defiance and determination.
While failure rates for franchising in particular, are relatively low in comparison to other businesses, that doesn’t mean that failure isn’t a possibility. Small scale businesses have a tendency of coming and going on the radar of the business world along the years. The tendency of a large number of copycat businesses to appear following an initial spark of originality in the market doesn’t make things any easier when it comes to keeping your business afloat amidst the fierce and ever increasing competition.
The thing is, if you do succeed in competing with the numerous identical businesses around, that just means that you may have won the battle but definitely not the war. This because, likely an unbeatable mythical creature, you just kill it and ten more like it will pop up out of nowhere. This is mainly due to the unfortunate fact that for each innovator, there are about two dozen imitators waiting around the corner to steal ideas and then compete for rewards. However, the good news is that copycats will certainly not put as much heart and soul into their stolen ideas as much as the original creators do. If people are too lazy to come up with their own ideas, chances are they’ll be too lazy to follow any sort of ideas through to success. This leaves plenty of room to outrun the competition and defend your place in the market, even if this may take a while and an extra bit of effort.
That is mainly how the successes and failures are separated; by creativity, hard work and dedication. Keep this belief strong in your mind and you’re sure to have a successful business that will withstand the test of time and maintain a strong position in the ever changing and fickle marketplace. At the same time you will be able to maintain your integrity and self-respect as well as the unwavering respect of your peers.
Franchise and the Risk of Failure - To learn more about this author, visit Sebastien Page's Website.
Like this article? Share it with your friends
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John PowerJohn 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 |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Dianne CramptonDianne Crampton is an executive leadership coach, team culture consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. Dianne's contribution to the 2010 Pfeiffer Consulting Journal (an imprint of John Wiley and Sons Publishers) entitled TIGERS Hearted Teams is available in November 2009. Her new book TIGERS Among Us: 5 Winning Business Team Cultures And Why, Three Creeks Publishing will release in March 2010. To receive publishing discounts, subscribe to the free TigerTracks Newsletter here. - Visit Dianne Crampton's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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