Are You Franchise Material?
Are You Franchise Material?
• Are you “people-friendly”? The biggest thrill of franchising is that you, as a franchisee, are supposed to interact with a lot of people, such as your customers, your vendor and of course, your franchisor. You need to have enough people skill to handle each one of them according to their status. Moreover, you must have a charming personality with great sales skills to impress your customers. With your vendors, you will need negotiation power and with your franchisor, you are required to be articulate and organized, so that you can maintain the best of terms.
• Can you learn easily? Franchising business is all about following a successful business model diligently. But, you can only follow, if you learn it really well. For that, you should have the patience and temperament of a student. If you are too much of a free-spirited person, you may find the different clauses and restrictions of the franchisor too suffocating. But that doesn’t mean that you have to be a blind follower; you must have that much spark of creativity to mould the model of the franchisor to your maximum benefits.
• Are you a hard worker? Many think that taking up a franchising business is very easy and it’s all about getting associated with an established brand. You may also think that you will open the doors of the shop and customers will come rolling in! But, that’s not the entire story. Though it’s somewhat true that the name will bring in customers, but to keep them coming back, you are supposed to work really hard.
• Do you have enough financial stability? There are franchising businesses to suit every pocket. But you should have more than the franchise-prescribed budget to cover family expenses and other emergencies.
Are You Franchise Material - To learn more about this author, visit Michael Hemenway's Website.
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When you read reports that approximately 97% of franchises remain open even after the difficult first three years; the attraction of this booming industry becomes too hard to resist! But before you start looking for franchisors, here is a checklist for you to make sure whether you can become a good franchisee.
• Are you “people-friendly”? The biggest thrill of franchising is that you, as a franchisee, are supposed to interact with a lot of people, such as your customers, your vendor and of course, your franchisor. You need to have enough people skill to handle each one of them according to their status. Moreover, you must have a charming personality with great sales skills to impress your customers. With your vendors, you will need negotiation power and with your franchisor, you are required to be articulate and organized, so that you can maintain the best of terms.
• Can you learn easily? Franchising business is all about following a successful business model diligently. But, you can only follow, if you learn it really well. For that, you should have the patience and temperament of a student. If you are too much of a free-spirited person, you may find the different clauses and restrictions of the franchisor too suffocating. But that doesn’t mean that you have to be a blind follower; you must have that much spark of creativity to mould the model of the franchisor to your maximum benefits.
• Are you a hard worker? Many think that taking up a franchising business is very easy and it’s all about getting associated with an established brand. You may also think that you will open the doors of the shop and customers will come rolling in! But, that’s not the entire story. Though it’s somewhat true that the name will bring in customers, but to keep them coming back, you are supposed to work really hard.
• Do you have enough financial stability? There are franchising businesses to suit every pocket. But you should have more than the franchise-prescribed budget to cover family expenses and other emergencies.
Are You Franchise Material - To learn more about this author, visit Michael Hemenway's Website.
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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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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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