Far too many people who start exploring franchise ownership stop their franchise ownership research prematurely… because they’ve let uneducated opinions, incorrect beliefs and perceptions dash their dreams and aspirations! I’m talking about ambushes, and there are a few different types that you’ll want to avoid…
Friends and Relatives
We all have people in our lives who are full of good advice; they want to advise us and help us. When they share it, they mean well… but often their perceptions and advice is based on their own uneducated opinions and personal biases. If someone is really important to you and you trust them a lot, then involve them in your research process… especially your spouse! Otherwise, they can ambush your dreams.
I‘m not saying you should turn your back on the people and not pay attention to them because they can raise some valid concerns. They might state something as a fact… but they really don’t know if it’s a fact or not, so it might be something you’ll want to get more insight into… so you should say something along the lines of “Thank you very much, I will add it to my list of questions and dig deeper into that”.
Unhappy Franchisees
It’s important to talk with enough franchisees to understand what it takes to be successful, and how effective the franchisor’s systems and support are… while doing so, you’ll want to talk with strong franchisees, average franchisees, and unhappy franchisees… It’s natural to get scared when you hear someone’s not doing well, but you want to ask yourself: “Is it the system that doesn’t work, or is the franchisee not working the system?”
If you’re more like the average franchisees or top franchisees, and they’re achieving similar financial and lifestyle goals that you’re looking for, then that still might be a good business for you to consider researching.
Trial-by-Internet
There is a lot of misinformation online; some people write negative information to intentionally harm a franchise. When you read something online that concerns you, be direct and ask the franchisor about it. If it’s false, they should be able to address it effectively. If it’s true, then you’ll want to ask what the franchisor did about it and how it was resolved. No franchisor is perfect, but if they can learn from their mistakes, that sometimes drives critical innovation.
Don’t fall into the trap of following the advice of somebody who has limited knowledge or strong biases about the specific business. Sometimes, you have to manage these people’s opinions. They mean well and want to bring you questions and fear points, but if it’s the right business and you’ve done good research, you should be able to address each concern.
Don’t let other people ambush you.
I’ve helped hundreds of people achieve success in franchise ownership, so let me help you get all of the right facts and avoid getting robbed of your entrepreneurial dream – let’s have a call to explore possibilities! Book a call now.
Originally posted on LinkedIn
