11 points to consider when deciding whether to invest in a franchise

The Creation Station surveyed one hundred of their own franchise partners to discover what advice they would give to those who are keen to invest in a franchise business.

11 points to consider when deciding whether to invest in a franchise

The Creation Station surveyed one hundred of their own franchise partners to discover what advice they would give to those who are keen to invest in a franchise business. This is the general consensus.

1 – Running a business is different to having a job

Always remember that you are investing into a franchise framework which already exists and has an experienced support network. You will not be starting a new business completely from scratch, because there will be support there if needed. But, at the same time, if you are the sort of person who needs to be told what to do every step of the way, then owning your own business may not be the best choice for you. 

2 – Do something you love but remember it’s not a hobby

Whatever franchise you choose, always remember that it remains a business – not an expensive hobby. Once you have identified what sector you would like to become involved in, whether it is working with children, doing something creative, or possibly food retail, always check out the status of the franchise. Are they the market leader? Are they proactive? What initial and on-going support do they provide?

3 – You will certainly work harder running your own business than being an employee

It’s really hard work running a business. You will need to spend time and energy on building it up. Most successful businesses are not normally developed on a few part-time hours per week. Therefore, ensure you have plenty of spare time to commit to your new venture. However, you will be the one who reaps the benefit of your own hard work and this is extremely rewarding. You have an amazing opportunity to really challenge yourself and develop new skills. Another huge benefit is that it gives you the flexibility, within reason, to arrange your hours to suit family commitments. You will not be instructed when to work by your employer, because you are the employer. Yet you may need to burn the midnight oil to get things done.

4 – It takes time to grow your business

Let’s get one thing clear. You are not going to earn big money overnight. Building a solid, successful business takes time and sometimes years. Make sure you factor some additional money into your initial start-up costs, in order for your bills to be paid on time.

5 – Make the most of your precious time

There are a lot of things about running your own business that you won’t know how to accomplish when taking those first tentative steps. Always view this uncertainty as a positive opportunity to learn new skills. And never be afraid to ask for help. There are only so many hours in a day and your time is precious. If there is someone else who could do the job quicker, and perhaps better, then take advantage of that. Purchase their services, remove that stress from your shoulders and move the business forward.

It’s all well and good spending days learning how to correctly submit your tax return, but wouldn’t that time be better utilised by searching for new business? How much is your time worth, versus paying someone else to do the job for you? Do a quick calculation to discover the answer to this last question.

6 – Build your tribe and raving fans

Surround yourself with a support network. Things will be tough sometimes and you need people in your life who will build you up – not pull you down. The Creation Station franchise network is amazing, with everyone who works within it available to offer advice and support. You will be part of a supportive team which helps to reduce and limit any feeling of isolation, in the busy and fun world of being a business owner.

7 – You can’t please everyone all of the time but when you get it right, it feels brilliant

No matter what they say, your business will always be ‘personal’ to you. It will hurt if someone criticises your ‘baby’ but it’s important that you take the time to listen to their concerns, and respect their advice and feedback. When you receive praise it’s a great feeling and it’s all because of your hard work. You will feel on top of the world. Our success stories are shared in our support newsletters, so you will definitely feel valued for what you do. We have received over 7,000 5-Star reviews and that’s rewarding for us. With a franchise you are never on your own, there is always an amazing team to help you. At Creation Station, there is the team at HQ, as well as a number of local regional support managers. And you will also be part of a friendly family network that is always delighted to celebrate with its franchise partners.

8 – Remember why it all began

Take time out, every now and then, to remember why you decided to start a business in the first place. Was it because of ‘Family’, ‘Flexibility’ or ‘Personal growth’, or possibly all three? It’s all too easy to get side-tracked and allow your business to take over your life. It’s worth taking a moment to discover if running a business is helping you to achieve your goals.

9 – Be kind to yourself

When you own a business, you are often wearing many ‘hats’ as well as multi-tasking much of the time. Every now and then take a step back and catch your breath. The world will not stop turning if you don’t reply to an email immediately. So take a few well-earned days off to recharge your batteries – you deserve it. You probably chose your business as a way to support your family financially. However, it’s important to take breaks, so find the time to enjoy your home life.

10 – Choose your business wisely

They say, if you do something you love, then you’ll never have to undertake another day’s work in your life – ever again. And it’s true. So think about what the day-to-day activities of your business will look like. Are the franchisor’s values aligned with yours? Do you like the people? Can you earn the income you need? How well do they adapt and support you during times of need? You must do your homework first. Find out everything possible about the franchise before making an informed decision. Attend online events which the franchisor may provide, and even meet their team at HQ in person, if logistically realistic to do so. Spend time researching and getting to know them. Make your decision knowing that the business you choose to invest in is the right one for you.

11 – Remember, they need to like you too 

Franchises are very selective about who they award their franchises to. Don’t be put off by this. It’s a good thing. It means they won’t ‘sell’ you a franchise just to expand their own bank account. They need to get to know you, as much as you need to get to know them. They will want you to succeed as much as you yourself want to succeed. They will say ‘no’ to people who they don’t believe are the right fit for them. It’s a long term partnership that must benefit both sides of the deal, as well as customers and the community. You have already acquired skills and you will learn new skills, while developing and growing both personally and professionally. You will benefit from your own hard work and make a significant difference to others.

Successful Creation Station franchisees come from a huge variety of backgrounds. You don’t need to possess one particular set of skills or expertise to become a successful business owner. However, you do need to be a people person, friendly and proactive. Our most successful franchise owners take training seriously, are not scared to ask for help, while accessing all the support that is available. What is truly essential is that you love what you do every day and are prepared to work hard to be successful.

Sarah Cressall
Sarah Cressall