Joining a franchise has a lot of benefits. You purchase the “wheel” of how your business is done and cut the learning curve significantly. In many cases you have name recognition which helps in marketing. You have a proven plan that works. You have support from the home office when you face new challenges. But there is another, even more important facet of the franchise: The other owners.
Your business peers, the ones who are walking the same path as you, following the same plan, are those in whom you can plumb the deepest treasure. They have been or are going through the same things you are. They know exactly how you feel about situations, because they are having the same experiences.
They may be in different markets, with differing dynamics, but the core business is the same no matter where you are. What works in some markets may or may not work in yours, but the knowledge you can gain from the experience of others cannot be measured.
I worked for one franchise owner in a retail setting who would not buy into “the next big thing” until another franchise had tested the market and he was sure the next big thing was really going to make him money. Another franchise owner attends trainings even when the training may be below his skill level, just so that he can take advantage of the one-on-one time he gets with other owners so he can ask questions and exchange ideas.
Go and visit other franchises! Physically stand in their locations and see with your own eyes what they are doing. Shamelessly steal from other owners on what works and what doesn’t. – and be open to allowing the same of your business. We get better by cooperating and sharing.
I firmly believe that one of the greatest assets of the franchise is the totality of the owners. The gold mine that is the combined experience of the collective group is rich, indeed. And don’t believe that you can only learn from people who have been doing the business longer than you.
New ideas and fresh outlooks can sometimes boost your perspective. And remember, just because they are new to your franchise, it does not mean they are new to business. I once got a tip from a new owner that solved a long-standing scheduling problem in our business. How did it happen? I went to training with the intention of asking every owner I could the same questions. These questions were based on issues we were trying to solve. The solution, it turns out, was one she used in another of her family businesses. That’s right. She was the successful owner of 3 businesses. If I had dismissed her because she was new to my business I would not have received the answer to our problem.
You have much power in your franchise. Figure out where that power lies and how to tap it for the benefit of your business. And don’t forget that the most power is in the people!
Ready to take your business to a new level? Be sure to get your access to my exclusive 3 part Video Series that unveils the 3 Insider Secrets to catapult your franchise or direct sales business to success here: www.theplanpiper.com
What do you think? Where does your power lie? Have you checked out other franchises? Leave a comment below and let’s talk about it….