Buying a Franchise and taking advantage of all that franchising has to offer can give you an opportunity to be self employed and gain some control over your career. If you have never been a business owner, your probably wondering if you have what it takes. While it is commonly known that franchising offers opportunities to people with all kinds of skill sets and backgrounds, there are definitely a few attributes that a lot of the most successful franchises have in common. They Know How To Network First of all, make sure you know that when you choose a location for your franchise, you are also choosing your professional community. If you have great networking skills, you can thrive in a good business community. Get to know your neighbors and other business owners in your location. Look into joining community organizations like the local chamber of commerce. This is a critical part in connecting with other business owners, and it’s something that the most successful franchises all do. If you have great people skills, you are definitely getting into the right business. You will probably find that you will be able to publicize your business and build loyalty with your customers easier if you choose to reach out. They Have Determination For a franchise to have a chance at becoming successful, the owner needs to be prepared to do whatever it takes to achieve that goal.
Especially at the beginning, owning a franchise is not relaxing 5 days a week. If you want that dream to happen, it starts with an intense amount of real, hard work. Getting squeamish yet? No? Read on. Building your customer base, training employees and understanding your own learning curve is going to take some time, and you must be determined to stick it out. The more willing you are as a person to put in the necessary work, especially at first, the better chance you have of becoming the owner of a successful franchise. A commonly acknowledged fact in the business world is that franchises are statistically much more likely to become successful than an individual start-up. In part, this is likely because many of the “pieces of the business puzzle” have already been put together for the business owner buying the franchise. Many mistakes that may have been made in starting a business from scratch are avoided because of the nature of a franchised business. Additionally, the owners of the most successful franchises have the chance to carefully pick their franchise and can review and get comfortable with their business strategy before they start the business. Even with these bright statistics on your side, you can’t be a person who shirks from hard work, because buying a franchise doesn’t mean it is going to be easy. They Can Learn AND Lead Another key to being a the owner of one of the most successful franchises, considering the initial learning curve of getting the business started, is the ability to both give and take direction. (more…)