April 28, 2010 by admin
Filed under Articles, Franchising takes your career beyond the traditional
(I believe that there are those of you out there that are tired of battling the corporate world. So stop it. Many of you are uniquely qualified to be a professional business coach. It has been a incredibly gratifying career decision for myself. So stop the turmoil and go into business for yourself with the help of franchising. Franchising may provide the vehicle to get out on your own, where you can stop creating wealth for others and start building equity for yourself. The article below was written by a good friend of mine, Diane Pleuss who is a top franchise consultant for the FranChoice organization. Her article my help you make some sense from franchising…..and I am a professional business coach as well as the Area Developer for FocalPoint Business Coaching International, powered by Brian Tracy. Call me for a free consultation!)
BUSINESSTIMES E A S T BAY
Franchising takes your career beyond the traditional
By Diane Pleuss, franchise consultant, FranChoice
Reprinted with permission from the East Bay Business Times
Have you been downsized or laid-off? Is the number of employees around you steadily shrinking and you fear it is only a matter of time before your head is the next to roll? Are you no longer willing to work endless hours, travel wherever and whenever needed? Or, are you just tired of the corporate politics and want to have control over what you do?
If you answered “yes” to any of these questions, then you may be part of a growing trend of people switching from
the traditional workplace to franchising. In a franchised business, you are self employed but license the right to operate a branded business concept. Franchising is the “middle ground “between working in the corporate world
and starting a business from scratch. Franchising can be the best of both worlds. It can provide the independence
you’ve longed for but offer the guidance and structure of a proven system. Let’s look at the advantages and disadvantages of making a career change into a franchised business.
The advantages are:
• The experience of the franchisor –The franchise company has spent years and a lot of money to develop a proven
Operating system. You can benefit from their experience and be up and running faster and with fewer glitches even
though you may have no experience in that particular industry.
• Training – This is where many franchise companies excel. By the time you’ve finished training, you’ve probably
bonded with your classmates and have learned all facets of the business. Good franchisors make sure you have excellent manuals, both hard copy and online, for ready reference when you’re out on your own.
• Group buying power – Most franchisors leverage the buying power of the group for better pricing on both products
and advertising and pass on the savings to their franchisees. Plus franchisees in the same area can cooperatively advertise together, reducing costs further.
• Ongoing support, research and development – Franchisors don’t make money until the franchisee makes money. This symbiotic relationship works in your favor. The franchisor has a vested interest in your success and will provide ongoing support, both through field personnel and home office staff, to help you excel. It’s a competitive marketplace so they’re also going to invest in R&D to bring new products and services to you.
• Synergy – It comes as a pleasant surprise to many that there is a wonderful synergy between franchisees. There is a
whole network of people out there who are more than willing to help their fellow franchisees. Just like kids talk
among themselves, franchisees also talk with each other. You will want to join a network of active, participatory franchisees. It’s almost like gaining a second family. Regional meetings and national conventions of franchisees can feel a lot like family reunions.
Consider the downside
Of course, franchising isn’t for everyone. The challenges include:
• Working within a system – If you have difficulty following directions or working within a system, then franchising
could be very frustrating for you. The secret of successful franchising is presenting a consistent experience to the
consumer. That means each operator must conform to prescribed methods and operations. You really need to have
an “executable mentality.” What do I mean by that? If I give you a hammer, for example, and you look at it and suggest changing the angle of the claw and lengthening the handle, then you probably have more of a “creative mentality” and will bristle under the guidelines. But if I give another person that same hammer, and they say, “This is a great hammer, where are the nails?” that’s an executable mentality.
• Risk – Although purchasing a franchise has less risk than starting an independent business, there is still risk
involved. You have to be comfortable with a certain amount of risk and responsibility. Even though you’ve
bought the right to use the brand name and the operating system, you’re still ultimately responsible for the success of the venture.
• The franchisor – Buying a franchise business is frequently compared to getting married, except that most franchise
relationships last longer. Both are legally binding and the franchise agreements are generally last for 10 to 20 years, with options to renew.
• False expectations – If you think that just because you’re getting a proven operating system, everything is going to be easy, think again. Don’t be fooled by how easy some long-timer franchisees have it. Their success didn’t come overnight. If you are tired of battling the corporate world, franchising may provide the vehicle to get out on your own, where you can stop creating wealth for others and start building equity for yourself.