As a successful franchisee, I've been in my clients' shoes and can speak to the value of what I do as a franchise consultant and the process I employ.
I strongly believe in the power of franchising, and in addition to being a franchise consultant, I have owned a franchise. I opened my first franchise in 2008, grew it to eight locations, and sold it for a profit a few years later.
I decided to walk through the same process I follow with my candidates as if I was buying my FIRST franchise again!
Here are some of the most important lessons I learned.
A Methodical Approach is Effective
I gathered the information I needed to make an informed decision. First, I identified brands that I wanted to investigate further. Then I used the discovery process and the questions that I always suggest to candidates.
Feedback and Guidance are Crucial
I collaborated with my fellow franchise consultants in the same way that I would with my clients. They asked thoughtful questions and shared their perspectives. I have a lot of franchising experience, but I would not have been as confident in my decision without the support of my peers.
There is No One-Size-Fits-All Solution
Fit is important. Fit is essential for successful franchising. A franchise must take into account a person's time commitment, skills, strengths, interests, finances, values, and other factors.
You Determine The Business’s Performance
Franchisees who implement the system with leading franchises perform well.
There is No Such Thing as 100%
I made my decision when I was 80% certain I had discovered the right franchise. Except for death and taxes, nothing in life is certain. However, franchisees can set themselves up for success by conducting thorough due diligence and following the franchisor's proven system.
I learned a lot during my franchise exploration process that will help me become a better franchise consultant and do what I love as a franchise consultant, helping others become entrepreneurs.
Would you like to learn more about my franchise experience and how I can help you? Then, please schedule a brief call with me.