Franchise

Franchising Fears? Learn The ABCs of Fear Management

When considering business ownership, it's common to have competing voices in your head. "Go for it!" says one. "It's too risky," says the other, louder voice. Fear takes over and causes paralysis.

With any major life change, fear is normal. But do you want fear to make decisions for you? How do you make it work for you rather than against you?

Follow this ABC model to ensure you have the right mindset:

A: Acknowledge

Acknowledge that there can be a lot of emotion involved when thinking about starting a business. To manage all of those emotions, you must make strategic and tactical decisions.

Explore the ideal methods for running a business.
Determine why you decided to take this route in the first place.
Acknowledge the importance of staying on track to achieve your goals.

B: Base Knowledge

Fear can be reduced with knowledge. The information you gain will put you in a better position to succeed. Examine the business model by learning more by asking questions. Furthermore, it is critical to understand that you will not be able to get all of your questions answered; however, you will be able to get enough of your questions answered to make an informed decision.

C: Courage and Purpose

You will face many decisions as a business owner. Allowing fear to paralyze your decision-making process can lead to frustration and a loss of confidence. Therefore, it's crucial to master the technique of progression.

Making no decision is a decision not to move forward. Consequently, fear management is a skill that you must practice.

Develop the ability to move forward rather than freeze. The more decisions you make, the further you will progress. The more you try new things, the more confident you become. You will become more aware of your courage, capability, intelligence, and resourcefulness as your confidence grows.

Think about the bold choice you just made. How will you deal with that decision?

You have the option of allowing the challenge to paralyze you or of progressing and building your confidence and courage to achieve success.

If you would like to talk about the importance of fear management in franchising, please schedule a brief call here.

It’s a Myth That You Must Be An Expert In The Franchise’s Field To Be Successful

Many people believe that in order to buy a franchise, they must be an expert in the field. This is not true. One of the best aspects of franchising is that you can be successful without knowing anything about the industry. All you need is some managerial experience and business knowledge.

There are numerous franchise opportunities available, each with varying levels of training and support. The franchisor will train you on how to run your own business. So to own a successful franchise, you do not need to be an expert in the field.

So, how much experience do you need to start a successful franchise?

The most valuable experience you can bring is that which can be transferred from one industry to another, whether you're making donuts or repairing water heaters. Keep in mind that you’re not doing the physical work. You’re managing the people who are.

Managers must help everyone do their best by having a bird's eye view of the business. From human resources to customer service to sales and marketing, a good manager should be able to deal with various personalities, respond to crises, solve problems, and generally be at ease around people.

In other words, your ability to hire good people and communicate with customers is far more important than your ability to turn a wrench or repair a faulty hard drive.

However, experience alone will not get you far as a franchise owner. You must be driven and motivated. If you don't have a get-up-and-go attitude, no amount of experience will help you be successful.

If you would like to find your franchising path, please schedule a brief call here.

5 Signs That a 9-to-5 Job Is Not Your Destiny, So Consider A Franchise

1. The Sunday Scaries
Every Sunday night, you have that sinking feeling that the workweek is right around the corner, and you dread it. And you begin to consider starting your own business. Why not a franchise business?

2. You're Stressed Out In A Bad Way
A little stress can go a long way, but too much stress is unhealthy. If your job is the common cause of your moodiness, inability to sleep, or back pain, it's time to make a change.

3. Following The Company Line Causes You To Break Out In A Cold Sweat
The idea of adhering to your employer's values is no longer appealing, motivating, aspirational, or anything else positive.

4. You Simply Don't Care
If you've emotionally left the building, then it's time to move on. We all work for the majority of our lives. Our focus should be on doing something we enjoy so that work isn't just a job but a passion.

5. Obsession With Small Business Content
Your interest in reading blogs about small businesses has turned into an obsession. With so many blogs, podcasts, and Facebook groups devoted to running your own business, you could easily spend your work week consuming content you enjoy.

Are You Checking Off These Boxes? Maybe A Franchise Is For You

These signals indicate that you have subconsciously left your employer and that it is time to make your dreams of owning your own business a reality.

A franchise provides new business owners the security of a tried-and-true system and a well-known brand. From the start, they offer new owners years of experience and knowledge. In addition, a franchise business connects you to a community of fellow franchisees who are also striving to grow and prosper by owning their own business.

Are you bored with your 9-to-5? Please schedule a brief call here.

I Stepped Out Of My Comfort Zone And Found A Passion For Franchising

I would like to share something personal you might not know about me. Before finding my true passion in franchising, I was working in real estate and started my entrepreneurship with mom-and-pop business ownership investing a small amount with a couple of partners. I quickly realized how much work I was putting into my small investment, building systems and processes with no road map.

Working in real estate got me my start, but working at my mom-and-pop gave me the motivation and allowed me to meet some wonderful people and lay a solid business foundation. But it was when I stepped outside of my comfort zone and invested in a franchise that I discovered the true thrill of entrepreneurship.

Now, franchising is my unwavering passion. Why?

There are numerous benefits to franchising. The first is the tried-and-true franchise processes and systems. These were developed by the franchisor and have proven to be successful. Because you are building on what others have learned before you, franchise systems save you time and money that would otherwise be wasted in an independent small business.

Another advantage of franchising is there are no limits to your opportunities, and you can always have peace of mind knowing you are building equity. In addition, you are creating something that you can pass on to your children.

One of the most important perks of franchising is the reassurance of knowing you aren’t alone on your journey. You have a support network from the start, which reduces stress throughout the journey.

Not only do I appreciate the support of my franchise network, but franchisees are, at their core, local business owners and community members. Therefore, I believe it is critical that we assist those who are new to the area or the franchise.

Last but not least, the most important aspect of franchising for me is the lifetime friendships I've formed with people from all over the country.

There's a lot to love about franchising, but for me, the relationships are what matter most.

If you would like to find your passion for franchising, please schedule a brief call here.

Did You Know Franchise Matchmaking Is An Art Form?

Perfect matches don't always involve romantic relationships. Cupids, also known as Franchise Consultants, exist in the franchise industry and are experts in the art of matchmaking.

How do you know if you're working with a reputable Franchise Consultant? Like a good life partner, a good listener prioritizes your needs and understands what is important to you. Here are a few indicators that your Franchise Consultant is skilled and experienced.

A Franchise Consultant Who Evaluates Your Commitment

Are you fully committed or just starting out? You want someone knowledgeable enough to recognize this and assist you in determining whether franchise ownership is right for you.

A Franchise Consultant Who Asks Questions And Listens To The Answers

A Franchise Consultant should focus on the candidate's goals once she has been hired to find the best match for them. A good Franchise Consultant will become acquainted with you on three levels:

Personal
What are the personal goals of the candidate? Do they want more time with family? Do they want to work from home?

Professional
What is the candidate hoping to accomplish with his next venture? A candidate's professional goals reveal what they want now and in the future.
Financial
A diligent Franchise Consultant will investigate the candidate's financial goals. A Franchise Consultant would not want a candidate to fall in love with a concept beyond his financial means.

A Franchise Consultant With Connections

Once the Franchise Consultant has all the information about their candidate, they can begin matchmaking and present options for the candidate to consider in order to decide who they want to get to know better.

A Franchise Consultant Who Guides The Candidate Through The Process

After establishing a connection, the candidate must determine whether the match is appropriate for them. A Franchise Consultant will encourage the candidate to research the brand and perform validations by speaking with other owners to get a first-hand account of what they should expect as a franchisee.

If you’d like to find out how I can find your franchise match, please schedule a brief call here.

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