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Following The Franchise System Does Not Equal Instant Success

Following The Franchise System Does Not Equal Instant Success

By FranchiseKing, Guest Blogger
Published: January 20, 2015

Did you ever see the movie “A League of Their Own” with Tom Hanks? If not, you should. There’s a great quote in it, and it pertains to owning a franchise.

"Of course it's hard. It's supposed to be hard. If it were easy, everybody would do it. Hard is what makes it great."  

Franchising is great. But owning a franchise isn’t easy.

It should be easy

Based on the following description of the franchise model, owning and operating a franchise business should be pretty easy. Or, at least not that hard.

The franchise business model

The franchise business model involves a business owner (the franchisor) licensing trademarks and methods to an independent (franchisee) businessperson. The franchisee usually operates this business – the franchise – within a specified and protected (most of the time) territory. The franchisee is permitted to use the franchisors trademarks, business systems, software, signage etc., along with other proprietary materials (like recipes, if it’s a food franchise) to earn a profit.

In a nutshell, there’s someone selling an opportunity…a business opportunity, and someone buying it.

The person buying it just has to follow the system that’s been put into place in order to run the franchise business. The seller just needs to support the buyer, who just so happens to be paying the seller a monthly royalty to do just that…provide ongoing support. Easy.

It’s not easy

Sorry to disappoint you, but owning and operating a franchise business is not easy.

Following the franchise system? That’s easy. Unless you’re not a good rule-follower.

That’s why it’s important to make sure you know exactly what you’re getting into if you become the owner of a franchise. And, what you’re not getting into.

Remove this word from your vocabulary

This: Turnkey

Franchises are really not turnkey businesses. Turnkey is a great word, though. It offers a fantastic visual. But, it’s too fantastic. If franchise businesses really were turnkey…the possibilities are endless.

For one, you wouldn’t have to do much. You would just turn the key, walk in, and I guess the business would just run itself. Heck…you wouldn’t even need any employees!

The bottom line: There’s no such thing as a turnkey business. Erase the word from your memory.

5 things you can do to improve your odds of success

Note: I’m not offering my tips to improve your odds of “instant” success. That wouldn’t be right. There’s no such thing as instant success. (Except maybe on YouTube once in a while.)

  1. Follow the procedures as they’re laid out in the franchise operations manual.
  2. Remain coachable. Take the suggestions given to you by your support staff, including the field reps, IT department and the marketing department.
  3. Follow your business plan. Learn how to become obsessive about your numbers; track everything.
  4. Create relationships with other franchisees. Ask for help and offer it if you can.
  5. Focus on being enthusiastic and positive inside and outside of your franchise business.

Do those things and do the work.

Don’t expect instant success as the owner of a franchise.

It’s just not part of the deal.

But, if you hold up your end of the bargain, good things can happen.

About the Author:

FranchiseKing
Joel Libava

Guest Blogger

The Franchise King®, Joel Libava, is the author of Become a Franchise Owner! and recently launched Franchise Business University.