3 Questions to Help Determine if Franchising is Right for You
Among twenty-five or so Google Alerts I have set including ones for each of our clients, as well as for words and phrases relevant to services we offer, I also have a Google Alert for my name. As is often the case, I have seen articles referencing articles I have written along with interviews that I have given, quotes from one of my webinars or workshops, and even from guest appearances on one of my podcasts. It is very flattering.
More so, it’s eye-opening when the alert references something from three, five, ten years ago. I’m always interested to see if my thoughts back then are in line with my thoughts today. I ponder whether my thoughts are consistent in how to approach things like social media, entrepreneurship and franchising. Really interesting is to see how my thoughts may have changed, to which I think about reasons why.
Recently, I was alerted once again. This time the alert referenced an article from eight years ago! Again, I was flattered when I clicked on the link and saw that it went to the blog on the Great Clips website.
I immediately thought back to see if I could recall writing an article or post for this great franchisor. After all, I had done so over the years for many franchisors and franchise organizations including Liberty Tax, Monkey Bizness, Scooter’s Jungle, Guidant Financial, and International Franchise Association, just to name a few. So, it wouldn’t have been odd if I had written one for Great Clips.
Well, I hadn’t written this particular article for Great Clips, but I was flattered nonetheless as the article referenced an article that I had written for Entrepreneur.com. I was pleased to read that my thoughts shared back then are consistent with my thoughts of today.
Thank you to Great Clips and to the author, Beth Nilssen for thinking enough of my thoughts to share with their franchise candidate audience. I’m happy to share today it at Acceler8Success Cafe!
Is Franchising Right for You by Beth Nilssen
I came across an interesting article on Entrepreneur.com the other day that presented three key questions to consider when thinking about joining a franchised company or opening an independent business. Now, of course, there are more than just a few questions to think about, but I think the article did a good job of presenting three, basic and vital questions:
Do you understand every aspect of the business or do you thrive in one area?
The author of the article on Entrepreneur.com, Paul Segreto, points out that entrepreneurs looking to start a business from scratch really need to be well-versed in all areas of a business to ensure success. It’s important to have experience in marketing, recruiting, accounting, business operations, human resources, etc.
On the flip side, franchisees don’t necessarily need to be an expert in all these areas because they can receive help from their corporate support system. At Great Clips, franchisees have access to marketing experts, business analysts and education staff to help them learn how to run their salon and train their staff. They also have a support system of franchisees who’ve “been there, done that” and can offer help and advice.
Are you an expert at making a name for yourself or would you like to be associated with an already strong brand?
Segreto points out that buying a franchise means that you inherit the reputation of the brand as well as customers — this shows the importance of doing research on public perceptions of any brand you are considering joining. A strong, recognized brand can have an immediate positive impact on your business, but a negative perception can do some serious damage.
An entrepreneur starting from scratch has the unique opportunity of building and forming their own brand. This is a positive because you get to make the brand what it is, and the experiences you offer your customers will shape your brand perception. However, negatively, you’ll be starting as a small fish in a big pond, and it may be tough at the start to attract customers and establish a loyal customer base.
Are you the kind of person who likes to go it alone or do you appreciate a sense of community?
This is another great question from Segreto. In a franchise, you are a big community that needs to be united and work together to create a positive and enduring brand across all locations — this is not always an easy task. You also need to be able to follow a system. So, if you’re a free spirit or want to recreate the wheel, franchising may not be the right fit for you.
As always, we’re here to help you answer and talk through any questions you may have about franchising. Leave your questions in the comments below or fill out a request for information form and we’d be happy to discuss.
Thank you Beth Nilssen. I hope that there was a candidate or two who had read the article that ended up buying a Great Clips franchise as it truly is an outstanding franchise organization. Here’s to your continued success.
Have a great day. Make it happen. Make it count!
