To even consider entrepreneurship, you will need to have 3 characteristics run deep in our veins. A strong work ethic will echo through your employees if it starts with you. The ability to be agile and adapt to changing situations, even if it means dropping something that you’ve worked on for a long time because it no longer suits the needs of your own franchise. Possessing tenacity, and the persistence to push forward, especially in the face of failure.
These are the characteristics that need to exist inside of you, as they will be called on time and time again.
When you own a franchise, you are responsible for the health of our business, employees, and yourself.
As an entrepreneur and franchise owner, success is attainable if you also follow these three simple guidelines:
- Know your business. You don’t need to understand it before you start, but you need to live and breathe your business. It means that you know how to do most of the tasks needed to run the business. You will hire employees and professionals to support you, but ultimately, when you own a franchise, you must be able to do the work, so that you can support your own employees.
- Have a business plan. How will you know where you are going if you don’t have a map and haven’t been there before? How would you know that you are there? Business plans spell out your goals and how you are going to achieve them. Solid plans also plan for issues that may arise and scope out the competition and how you will handle sales and marketing. When you own a franchise, a business plan should contain milestones and check points so you know you’re on track. It will keep you, and anyone else on your team accountable.
- Being successful means that you have to be able to pass on the day to day tasks that don’t have to do with your franchise’s growth. As a leader, you will be planning and strategizing about what your next steps are, and cannot be involved in the day to day maintenance of the business. Of course you will observe key performance indicators to ensure the health of the business, but your focus will be to grow the business, and that means delegating as much as you can.
It is a rewarding and exciting journey when you own a franchise. Franchising helps to mitigate a lot of the issues that come with starting your own business because that road map is already partially started. The good news is that you get to fill in the rest of the journey, and decide how you’re going to make it unique for you.
Ready to find out more about how you can own a franchise with FRESH? We’ll support you through the entire process to ensure you’re starting with the best step. Contact us today for more information.