The Franchise

So… you are thinking about either starting your/a new business from scratch, or possibly upgrading an existing business to take advantage of the benefit side of franchising such as possibly better advertising opportunities, better supply of goods for sale, name recognition.. any or all of the above.

The attractions and benefits of the better known and reliable franchises are many.

But as is true in the laws of physics where it states “for every action there is an equal and opposite reaction”, so it is true of franchising, and to know if it (Franchising) is for you, you must understand these basic tradeoffs.

Franchising in a way is like a middle ground between being totally self employed and being an employee. You have many freedoms but as a franchisee, you have many, many rules to go by. The whole heart of franchising is STANDARDIZATION. And in fact, it’s what you are paying for.

One of the first things you have to ask yourself.. even before the money question is: “Is this for me?” and a key part of that is some self introspection: Can I willingly trust and take orders and direction? Do I HAVE to be the guiding and creative light in my business? If you can’t answer this in the affirmative, then Franchising is probably NOT for you. To be a successful franchisee, you MUST be able and willing to follow the model of the franchise you will own.