For many, being independent and creating a business from scratch holds little appeal. Most people prefer a proven roadmap to follow and a team to support them in their own business. The good news is that there are opportunities to own and operate a business that don’t require the owner to be solely responsible for every facet of the business.
Franchising is an option that allows you to be in business for yourself, but not by yourself. If the first thing that comes to mind when you hear the word franchise is fast food and French fries, hang on. Franchising is so much more than that.
The great majority of franchise companies started as independent businesses that reached a certain level of success. Those independent small businesses that we spoke about before then decided to scale it up by sharing their winning formula with people who are willing to follow their proven system. Franchisors (the companies that franchise their businesses) share their experience with franchisees (those people who invest in the opportunity). They provide them with comprehensive training, support programs, and the roadmap needed to replicate business results.
Most franchising opportunities require no experience or industry background. Most franchise companies prefer people who have no prior experience in their type of business to join as franchisees. Why is that? Because franchising is all about replicating a business’s success through a proven SYSTEM—a model that affords you to Save Yourself Significant Time, Energy, and Money.
Franchising is one of the few commercial interactions based on creating and sustaining an interdependent win-win relationship. The success of a franchise company depends on the success of its franchisees and vice versa. This interdependence tends to create a healthy environment where members support rather than compete with each other, and where they motivate, celebrate, and are ready to assist other franchisees.
Although the premises of franchising apply to all franchise companies, as with every other vehicle, not all franchise opportunities or companies are created equally, nor are they right for everyone. The potential for win-win relationships, support, a successful formula, and winning tools exists in every company, but each concept is different. Likewise, how these elements manifest in the company depends on many factors.