Franchise Opportunities: You Still Have To Drive It
By Bob Phibbs
I was the CMO for the second-fastest growing company two years running in Los Angeles County.
It was a franchise I hooked up with, taking it from start-up through about 135 locations across the U.S.
I'd tell franchisees during discovery day, "You get out of it what you put into it."
Many franchisees enjoy a great living.Through running a business they are able to use all their gifts to live a life few have the guts to even dream about.
But buying a franchise can come with a steep entry price.
It’s like buying a Maserati (the franchise system) and having to learn how to drive it. If you want the thrill, you have to come to it with a realistic attitude.
Some franchisees buy a franchise and expect it will solve everything; they leave the car in the driveway expecting it to drive itself.
But you can’t buy any business and expect it to run itself.You have to understand it if you want to make money.
Things like filing up the gas are things neither the economy nor the franchisor is responsible for.
To drive it, you have to fill it up.
Ignore that and you go nowhere.
In a franchise, you have to have a reliable, duplicatable experience or customers don’t come back.That means you are there every day to see that customers are getting what they expect. You don’t get a second job to support the franchise – unless you want to fail.
To succeed means you have to change your schedule to accommodate the business. And don't put your kids in charge of the Maserati!
You can tell the commitment level of franchisees by how often you find them in their store, restaurant or office. It usually shows in the customer's hit-or-miss experience. You can also tell when you ask to see the owner and are told, “Oh, they’re never here.”
Pride of ownership.
It’s what successful franchisees demonstrate every day.
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