Independent business owners may consider switching to a franchise in order to expand their existing business and utilize the influence that comes with a larger, more well-known brand. Since every business is different, fitting into a franchise model may work for some, but not for others. Before you start the process of looking for the right franchise fit, if there is one, you need to understand your ‘why.’
Why do you, as a business owner, want to consider the change from an independent company to a franchise system? What is your motivation? What are the short and long-term goals, not only for your business, but for yourself? When you understand these answers, you will know if diversifying your business is the right fit
Why Would You Diversify or Franchise Your Business?
• You want to see continued business growth. A franchisor should have a marketing system in place that each franchise owner can utilize. That system will help a business improve its efficiency, attain and retain customers.
In addition, by having standard processes in place for the work that the business does, a franchise owner can train new employees faster and easier. The owner can spend more time in the operations side, while the franchise system handles the marketing.
• You want to increase your business’s value. When you join a franchise system, one way you can increase your business’s value is through streamlining your processes and procedures so your company and its employees are more efficient.
A franchise system should have proven processes in place for its franchise owners to follow. These processes should be tested and revised and tested again to keep each franchise location running smoothly.
• You want to improve your lifestyle by having the time and freedom to do things. When a business grows in size and value, an independent owner may have to spend more time working in it. However, with established processes and procedures, everyone in the company understands what needs to be done, how it needs to be done, and when it needs to be done.
This allows a franchise owner the time and freedom to do things he or she is passionate about – family, friends, projects, etc. Once you identify your ‘why’ and motivation to make this change, you have to find the right franchise system that fits your needs.
5 Things You Should Do As You Consider A Franchise System
1. Do your homework. Start by searching for franchise opportunities in your industry. There may be a couple or several different options. Find out where the nearest franchise is and whether your geographic area is available. Many franchises will have a specific process in place for business owners who want to start a new franchise business or convert their independent business to a franchise operation.
2. Talk to current franchise owners. The best information you can get is from a franchise owner doing exactly what you want to do. Ask to talk to several franchise owners who diversified or converted their independent businesses to a franchise. They can share their motivation, experience, successes and pitfalls. Don’t be afraid to ask hard questions. You want as much information up front as possible to help make your decision.
3. Think long term. What is the ultimate end-goal for your business? Make sure the long-term goals for your business matches with the goals of the franchise and if they can get you where you ultimately want to be.
4. Be ready for change. As an independent business owner, you can run your business as you see fit. When you are a part of a franchise system, you will need to follow certain processes and procedures. This can be positive or negative depending on a business owner’s willingness to change.
5. Look at the pros and cons. Every business is different. Each business owner has his or her own history, motivation, needs and wants. What may be considered positive for one business may be negative for another. List out the pros and cons as you see them to determine if being part of a franchise system has enough benefits to make the switch.
The Pet Butler franchise system provides business owners with a wealth of information as they go through the steps of owning a Pet Butler franchise. The goal is to make sure that there is the right fit for both the business owner and the franchise.
Our franchise owners have access to our turn-key marketing systems, back-office support and business consultants, all available to make each business more successful. When our franchise owners are successful, so is Pet Butler.
Whether you want to switch your independent business to a franchise system or you’re looking for a new turn-key franchise opportunity with the resources and support to help you be successful, Pet Butler may be a great fit for you. Learn more about Pet Butler by calling 844-777-8608 or email email@example.com