How to choose the right franchise for you
How to choose the right franchise for you
In many cases it’s worth remembering that franchising can allow you to work in an industry where you’ve had no previous experience. However, before you look at any specific industry sector, you should consider the way you want to develop your business, for example do want to run a single unit franchise opportunity or do you want to develop an area or a region.
You should then look at your previous achievements and experience, are you good at managing people? Good at selling or are you good at working with your hands creating or fixing things? This will determine the franchise type most suited to you.
Franchisors are very clear in what kind of partners they are looking for – you should also be clear in your mind what franchise opportunities match your needs and skills. It is only now that you can select a suitable industry as some franchisors would be looking for franchisees to carry out their specific tasks like driving or cleaning, whilst others will expect the franchisee to employ and manage the staff to carry out the daily tasks.
Addressing the following areas should help with your research:
What type of experience do you have?
• Identify the skills you have developed over the years in order to ensure the franchise you chose fits your skills and experiences.
• Have you managed staff? Many franchisees are geared to a franchise employing many staff with managed skills.
• Have you been involved in administration? Many franchise systems involve extensive administration work therefore it would be beneficial to have some experience in this area.
What would you like to do?
• Note down your strengths and weaknesses, this will give you a clearer idea of the type of work you would be good at and enjoy doing?
• Do you want to work in a shop?
• Do you want to work in an office?
• Do you want to be mobile, i.e. out and about?
What do you enjoy the most?
• Talking on the phone?
• Motivating people?
• Working with your hands?
• Driving?
How to choose the right franchise for you - To learn more about this author, visit Suzanne Donald's Website.
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Finding the right franchise can be a daunting task, however, if you approach it systematically you should easily be able to arrive at a short list of suitable opportunities. It’s a question of matching the skills and type of experience required to run a franchise with what you like doing, and are good at. Usually what you’re good at will tend to be what you’re best at!
In many cases it’s worth remembering that franchising can allow you to work in an industry where you’ve had no previous experience. However, before you look at any specific industry sector, you should consider the way you want to develop your business, for example do want to run a single unit franchise opportunity or do you want to develop an area or a region.
You should then look at your previous achievements and experience, are you good at managing people? Good at selling or are you good at working with your hands creating or fixing things? This will determine the franchise type most suited to you.
Franchisors are very clear in what kind of partners they are looking for – you should also be clear in your mind what franchise opportunities match your needs and skills. It is only now that you can select a suitable industry as some franchisors would be looking for franchisees to carry out their specific tasks like driving or cleaning, whilst others will expect the franchisee to employ and manage the staff to carry out the daily tasks.
Addressing the following areas should help with your research:
What type of experience do you have?
• Identify the skills you have developed over the years in order to ensure the franchise you chose fits your skills and experiences.
• Have you managed staff? Many franchisees are geared to a franchise employing many staff with managed skills.
• Have you been involved in administration? Many franchise systems involve extensive administration work therefore it would be beneficial to have some experience in this area.
What would you like to do?
• Note down your strengths and weaknesses, this will give you a clearer idea of the type of work you would be good at and enjoy doing?
• Do you want to work in a shop?
• Do you want to work in an office?
• Do you want to be mobile, i.e. out and about?
What do you enjoy the most?
• Talking on the phone?
• Motivating people?
• Working with your hands?
• Driving?
How to choose the right franchise for you - To learn more about this author, visit Suzanne Donald'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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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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