Many entrepreneurs opt for the franchise route because they’re getting the opportunity to run a business which already has a proven track record. You don’t have to start things from the ground up and there are normally processes and procedures already in place that should ensure success if you’re willing to put in the effort.
But should you avoid a particular franchise if you don’t have experience in that sector or have no franchising experience at all?
The truth is that there’s a myth that many budding entrepreneurs buy into all too easily – it’s that franchisors are looking for people with a lot of experience. That often means people put off applying for a particular franchise until they’ve gained the experience or they simply decide not to engage with an opportunity at all.
Franchisors have a vested interest in candidates making a success of their business. They are looking for motivated individuals who will contribute to the brand and push it forward. It’s not just about trying to find someone who has the money to put into the venture and open another store or office. For franchisors, qualifications aren’t as important as having a passion for the sector their franchisees are planning to go into.
The key attributes of successful franchisees are plenty of motivation and plenty of passion. If you have these, there are plenty of opportunities out there and a lot of franchisors who will want to invest their time in you. If you’re willing to work hard and prepared to learn, you probably have most of the characteristics which are highly sought after in the franchise industry.
It’s a partnership between you and the business owner who is offering the franchise. Of course, you need to have a shared interest and get on; that’s as important as anything else in determining future success. But there are some other factors you need to consider before you settle on a franchise that’s going to fit your requirements.
First, you need to choose something that you’re passionate about. Do you like the brand? Are you motivated by it? For example, if you have a big interest in health, then a fitness franchise might just be the thing you’re looking for.
Second, you need to look at how the franchisor treats their franchisees. What opportunities and support are they offering? What targets do you need to reach and are they realistic? Are they available when you have questions and do they answer those queries fully?
People go into franchise opportunities for a variety of reasons. It’s not all about making money, though you will certainly want to make a decent living. The biggest factor in taking on a business opportunity should be this needs to excite you and get you up in the morning. Whether that’s selling a product or providing a service, you can always learn the ropes if you have the right focus.
Franchising offers wide range of opportunities to lots of entrepreneurial minded individuals. Lack of experience in one sector or another isn’t as important to many franchisors as a passion for the product or service and shouldn’t be a barrier to taking one on. Think about that when you’re searching through a list of franchises.