One of the main reasons aspiring entrepreneurs choose to buy a franchise is for the unparalleled level of support that franchise systems offer. If you’re new to franchise exploration, you’re probably wondering what that means. More importantly, what does that cover?
Unparalleled level of support means that franchisors support their franchise owners in a way they wouldn’t find were they to go out on their own to start up a new business concept. It means there is ALWAYS someone available to answer questions and provide guidance, from the time your franchise is awarded throughout your franchise ownership. As McDonald’s legendary owner Ray Kroc said, franchising means being “in business for yourself, but not by yourself.”
Support programs vary by franchise, but here are several types of support offered by franchise systems.
Initial and Ongoing Training: Franchisors have a proven model of success they expect franchise owners to follow, but to ensure that it’s critical they offer extensive training to the franchise owner and their managers. Training can happen at the corporate office, on location, in preparation for launch and throughout your time as a franchise owner.
Real Estate Procurement: For brick and mortar businesses, many franchise systems will support the franchise owner as they look to secure real estate for their business. They’ll help you find the right location, negotiate the lease and tenant improvements and support you through the buildout process.
Marketing: Whether a franchise has a large national ad budget, or focuses most of its efforts teaching franchise owners effective local outreach, marketing support is ubiquitous in the franchise industry.
Operations: There’s a lot to learn in terms of operating your new business, so strong operational support is a crucial piece of a franchise support team. This can include detailed operational manuals, help-lines and online support.
Peer Sharing: Franchise systems encourage franchise owners to work together to share their experiences and ideas with their fellow franchisees. Some of the best ideas and solutions come from franchisees since they are often facing the same challenges and opportunities as you are.
Sales Training: Many franchise businesses will require some level of sales, so those franchise systems offer extensive training. Ensuring their franchisees are confident when pitching new business is key to their success.
Think you’d like to enjoy the unparalleled level of support franchise businesses offer their owners? I’d like to help you find the right franchise match for you at no charge. You can call me at 919.846.7111, email firstname.lastname@example.org or click the button below to schedule an appointment.