In the current pandemic, we have witnessed a sharp rise in the number of people enquiring about a franchise. There is no doubt that franchise is a wonderful way to curate your own career, but what should you ask yourself before you start this adventure? These are our four questions. Brace yourself, honesty is required!
What are my strengths and weaknesses?
True self awareness about your strengths and weaknesses is key to running a successful franchise. Understanding where your strengths lie, means you can focus your time and energy on those aspects of the business. This gives you the power and the energy to delegate the tasks that you’re aren’t as strong in.
It’s important to remember delegation is not abdication. The plus side is, your franchise will come with all of the systems and procedures ready to deploy. This streamlines the training and onboarding of staff and gives a huge head start.
What am I passionate about?
Business is tough. When the pressure is on, when you feel like quitting, when it’s Friday evening and you know you still have to make that one last call, passion will get you over the finish line. Without it, you’ll grow resentful. It’s also important to add that you don’t have to love every part of the franchise or every part of your role as manager. But you do have to be passionate about getting the results.
How will I fund my franchise?
There are lots of opportunities for funding so it’s worth looking around at the current Government schemes and help for startups and small businesses. You’ll be surprised at how much support is readily available.
Once you know what support you can tap into, be honest with yourself about how much you can afford to invest. You’ll need to plan out your personal finances and ensure you don’t find yourself in a problematic situation. Plan, budget, assess and then make an informed decision.
Am I proud to represent this franchise?
At Sparkle Cleaning we live and breathe our core values – family comes first, keep it simple, add value, make money and have fun. We only employ and partner with people who share those values. That’s important for both parties. If the franchise you’re considering doesn’t align with your personal values, it’s going to be hard for you to live an authentic life and that’s gonna make turning a profit a difficult prospect.
Above all, my advice is to get a trusted friend or business adviser to help you answer these questions honestly. Franchising is a wonderful way into business life. Prepare well and you will build the life you truly deserve.
