Franchisee Profile Who should and should not buy a franchise
Franchisee Profile Who should and should not buy a franchise
Being self employed can bring many benefits but there are risks too. Statistically most new business start ups fail. By contrast most people that are new to business that start trading via the franchise route succeed. The British Franchise Association/NatWest national franchise survey reveals that over 90% of franchisees operate profitable businesses. Given that franchising is a safer way to go self employed, is it the route for all to take that are going into business for the first time?
Let me say this now and say it clearly, franchising is not for entrepreneurs. Why not? Because an entrepreneur is a person who is a maverick at heart. A risk taker and a rule breaker. Someone who does not see the boundaries. Because of this an entrepreneur is a person that works against the principles of franchising and can cause damage to the brand. So who is right for franchising?
Every successful franchisee has the following attributes. They are enthusiastic, hard working and most of all, they FOLLOW THE SYSTEM. A high performing franchisee will always be an enthusiastic disciple of the system he or she works under. This means that anyone that buys a franchise should be convinced in their minds that they do in fact completely believe in the system on offer. Franchisees do not have power to change a system. In fact a franchisee can loose their franchise by not following the system. Why is this?
It is quite reasonable for a franchisor to expect his franchisees to follow the system. Why? It is the system that makes the franchise valuable. It is the system that has been developed over time and that is proven. It is the system that the brand is built on. It is the proven system that customers expect. Imagine walking into a Dominos Pizza franchise store and finding that the franchisee had decided to serve curry that evening. By breaking the system the franchise brand and customer expectation is undermined. The brand and the system are king in franchising. By following them both well and enthusiastically the self employed business person can do well.
Entrepreneurs beware, franchising is not for you. Hard working and enthusiastic followers of proven systems are all welcomed in 90% of cases build profitable franchised business.
Franchisee Profile Who should and should not buy a franchise - To learn more about this author, visit Nick Strong's Website.
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Franchisee Profile – Who should and should not buy a franchise
Being self employed can bring many benefits but there are risks too. Statistically most new business start ups fail. By contrast most people that are new to business that start trading via the franchise route succeed. The British Franchise Association/NatWest national franchise survey reveals that over 90% of franchisees operate profitable businesses. Given that franchising is a safer way to go self employed, is it the route for all to take that are going into business for the first time?
Let me say this now and say it clearly, franchising is not for entrepreneurs. Why not? Because an entrepreneur is a person who is a maverick at heart. A risk taker and a rule breaker. Someone who does not see the boundaries. Because of this an entrepreneur is a person that works against the principles of franchising and can cause damage to the brand. So who is right for franchising?
Every successful franchisee has the following attributes. They are enthusiastic, hard working and most of all, they FOLLOW THE SYSTEM. A high performing franchisee will always be an enthusiastic disciple of the system he or she works under. This means that anyone that buys a franchise should be convinced in their minds that they do in fact completely believe in the system on offer. Franchisees do not have power to change a system. In fact a franchisee can loose their franchise by not following the system. Why is this?
It is quite reasonable for a franchisor to expect his franchisees to follow the system. Why? It is the system that makes the franchise valuable. It is the system that has been developed over time and that is proven. It is the system that the brand is built on. It is the proven system that customers expect. Imagine walking into a Dominos Pizza franchise store and finding that the franchisee had decided to serve curry that evening. By breaking the system the franchise brand and customer expectation is undermined. The brand and the system are king in franchising. By following them both well and enthusiastically the self employed business person can do well.
Entrepreneurs beware, franchising is not for you. Hard working and enthusiastic followers of proven systems are all welcomed in 90% of cases build profitable franchised business.
Franchisee Profile Who should and should not buy a franchise - To learn more about this author, visit Nick Strong'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 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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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager'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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