Buying a Franchise Business
When you bought your franchise business were you giddy, excited, full of hope & aspiration and the reality was very different?
Hindsight is a wonderful thing!
I often speak to franchisees who have bought into a franchise business model on a whim. When they look back & reflect at their decision they see that they did not do enough homework on the business sector that that were buying into & they did not have any idea about the levels of “competition” in that sector in their local area.
I am not a believer in competition as such. There really is no need to fight over customers! That does not make me big headed and arrogant. I simply believe that there is room in most markets for everyone. There is the ability to be successful even in what would appear at first glance to be a saturated market. People buy from people. Different people will be drawn to & suited to different businesses. This is the main reason why you should not just go out there and try to replicate other businesses in your sector. If you do this people will only be able to make a choice based on price. If you make your business unique by adding your personality then you will attract the right people to your business to buy from you. You should always be targeted and specific in your marketing to ensure you are attracting the right fit for your brand.
I was promised the Earth but the reality was different
Many franchisees are concerned that when they can bubbling along, cheque in hand, ready to sign on the dotted line they were promised the World. They were going to receive masses of support in their franchise business but the reality is somewhat different. Now, don’t get me wrong not all franchisors provide rubbish support. There are some really amazing franchisors out there. But, unfortunately, there are some franchisors who just are not cutting the mustard!
It is ok to ask for help if you are struggling. It is ok to get advice & support if you are feeling that your business will benefit from it. It is important that you do not struggle on alone. Your first port of call is to ask from franchisor for help & support but if that if not forthcoming look elsewhere. You want your business to work & you can make it happen!
So, your task for today is to consider how you can make your business stand out in the market place, become unique & attract perfect customers & if you need support find some!