I admire anybody who starts a franchise. They’re making financial, lifestyle and legal commitments that would frighten most people away. But that in itself illustrates one of their key attributes – a positive attitude to risk. Yes, taking on a franchise is demonstratively less of a risk than going it alone, but it is still a risk that very few people have the appetite to take.
According to the latest National Franchise Survey, there are over 50,000 franchise units in the UK today. Some of those will be multi-units owned by one franchisee, of course. But, with more than 33Million people aged 16 or over in employment, that makes the percentage of franchisees in the total workplace somewhere around 0.15%. Kudos to all of those rare and brave individuals that have done it, then, but why are there some that do it so much better?
In over 18 years of franchise recruitment, I’d say the most effective franchisees have usually made their minds up quickly. They know what they want, and they’ll make that commitment sooner than other people. Being decisive, and then being confident in that choice once it’s been made, is a marker of a successful franchisee. In short, the best simply get on with it. They don’t analyse to the point of paralysis; they don’t question every step in the process. They’re doers, not ponderers. And, once they’ve joined – just like any successful franchisee from any other brand – they follow the model!
Admittedly, your most successful franchisees might not agree with everything the franchisor states, nor believe the business model is the only way things can be done. It’s rare to put dozens of people in a room – especially high achievers – and have them agree on absolutely everything, right? But those Dream Doors franchisees who consistently achieve the highest revenues don’t waste time debating what’s already been determined. They’ve signed up to a franchise, and one with 25 years of growth behind it. They understand that the fastest way for them to grow is to listen, to learn and to trust the process! And they rarely drift from the path – remembering the basics, never cutting corners and being consistent in their business practices.
Attributes like this are easy to measure, of course. If someone is following the model, there are key performance indicators in place that quantify that. Whether it’s marketing spend, conversion rates, order values or customer satisfaction, there will be metrics that separate the best from the rest. We have eight business development manager who are on the road 90 per cent of the time. And on every visit, they work through KPIs and action points with franchisees that, when acted upon, always have a positive impact.
But what about those attributes that are less measurable? Things like energy, personality, hunger, determination and resilience. These are intrinsic characteristics that, arguably, can’t be taught. But they are unquestionably traits that our ‘big hitters’ have. When you are self-employed – whether as single operator or running a management franchise – you are the key. You set the standards and the culture within your team. You inspire and bring people along for the ride. But you also have to drag yourself out of bed on a cold November morning. You have to open up when your staff are off sick. You have to manage the sleepless nights when there’s an unexpected dip in cashflow. In the end, it all comes down to you and your resilience when times are tough.
And there will be tough times! There will be days when you bang your head against the wall and wish you’d taken the easy route; that you’d stayed in comfortable employment. If you crumble every time this happens, then a franchise isn’t for you. Business is tough. Really tough sometimes. And even though you’ll have more support as a franchisee than an independent – at Dream Doors, which is a part of Neighbourly, you’ll have a massive organisation behind you – it is still your business.
So why do people do it if there are so many challenges? Perhaps it is to test themselves. Often, they’ve got sick of being told what to do. Undoubtedly, they crave some independence. And they definitely want to earn more than they did before. What separates those that do from those that don’t is always a mindset. As the quote from Henry Ford goes: “Whether you think you can or you think you can’t, either way you’re right.” So it’s attitude, above anything else, that sets you on the path to success.
This article comes courtesy of Dream Doors, the UK’s #1 kitchen makeover company. Find out more about how to become a Dream Doors franchisee here.
