Is Franchising For You?
Franchising is not for everyone. Many people find that having their own business demands more of their time, energy and financial resources than they anticipated. As a business owner, you need to be willing to commit weekends and holidays if the business demands it. You need to be prepared to think about your business 24/7. You many need to forgo a steady pay cheque. While the benefits of having your own business can be significant, success demands that you love what you do and are prepared to commit yourself fully to it over the long run.
Spend some time considering the following questions. Honesty is the key to this evaluation, and will help you to make an informed decision about pursuing a Crock A Doodle franchise.
What are your reasons for wanting a Crock A Doodle franchise? Is it for the money? Is it to set your own hours? Is it because you’re bored or unsatisfied with your current career?
This is possibly the most important question you can ask yourself before entering into franchising. While you probably won’t get rich (at least not immediately), and you will probably have to work long and hard (at least at the beginning), the end result is a sense of self-satisfaction and long-term results are typically well worth the wait. Turning to a franchise is probably not a good idea if you are just seeking relief from your current career.
Are you expecting or needing a quick financial return? Can you be patient and persistent to work toward your goals?
A franchise requires a significant financial investment. It also carries with it some uncertainty. A franchise requires an investment mindset – not everyone is ready to forgo a good salary or face any risk/uncertainty – or those that do often have another income earner in the household. You need to be financially secure enough to survive a slow period or month to month cash flow variances.
Do you have the support of your family/spouse? Do they understand the commitment of time and energy? If things don’t go well will you hear “I told you so?”
A franchise requires a significant investment of time and energy …not just money. This is time you may need to take away from your family, and energy that may leave you exhausted during busy times. It is vital to have the support of your family in your decision. They need to understand the importance of you being present in the business. Whether they will be hands-on with you in the business or cheering you on from the sidelines, your family must be as enthusiastic and positive about the business as you are.
Do you enjoy working hard, even if the reward seems distant?
If you have a strong work ethic, and you don’t need to see immediate payoffs, then franchising might be the place for you. Remember, this is your investment so it will require you to put in extra hours and it is common not to make a lot of money in the early years of a franchise. You will have to be patient. Your self-motivation will be the characteristic that holds you steady if the going gets tough. Keep this in mind as you decide to move forward – if you lack motivation, franchising is not for you.
Do you have initiative? Can you manage your time? Or do you wait for others to take the lead?
Self-reliance is a necessary trait in franchising, since it is imperative that you’re capable of handling the day-to-day business affairs with focus and discipline. You will receive a lot of training and on-going support from Head Office – which is a significant benefit of being a franchisee. It will be up to you to turn this support into action and measurable results
Do you generally have a positive outlook?
Having a negative outlook is not an option. A positive attitude is a precursor to success with Crock A Doodle. Our brand is about fun and positivity… this needs to come to life in living colour.
Do you consider yourself to be a “people person”? Are your interactions with others effective? Do you find that you like others?
Just as it is imperative to have a positive outlook, it is also important to have good people skills. If you don’t believe that your communication and people skills are up to par, then you must be willing to devote ample time to develop this. Our brand is focused on making meaningful connections with people, and being active in the community. You need to be excited to get out there and make some noise!
Can you work with a system that is already in place? Or do you have to have things your own way?
The biggest reason for the success of franchising as an industry is because the learning curve is immediately shifted from franchisor to the franchisee. The know-how exists, and has been tried and true. It is important to remember that there is a successful system already in place – and you must be willing to follow it to achieve success.
Do you enjoy teaching and coaching? Do you take pleasure in training and supporting others in new tasks? Do you enjoy giving feedback?
The nature of franchising calls for the training and development of your staff team. You will enjoy your role more if you like teaching and have the ability to be patient and supportive. Ongoing communication and support is key to having a team committed to helping you build your business.
If you passed the self-test, and believe you have what it takes to be successful…we definitely want to talk to you!
Find out more about our Discovery Process.
