The winner of the One Woman. One Franchise. Contest is currently at the beginning of the franchise exploration process. Nora Peterson, the lucky lady who’s winning entry got her to the place she’s at now, is excited about the possibilities as she learns about the history of franchising.
That’s because, the possibilities are endless, when people like Nora make the decision to own what they do.
In case you don’t understand what I mean by the phrase, “Own what you do,” allow me to introduce this powerful concept to you…right now.
(I helped Mike Burzminski, far right, obtain 3 Batteries Plus franchises)
Mike is a successful multi-unit franchisee. He works for himself. That’s what I mean by, “Owning what you do.” Got it?
A Brief History of Franchising
The early days of franchising included an industry that I was part of for a decade or so; the automobile industry. Back in the day–the Henry Ford days actually, lots of entrepreneurs wanted to jump into the automobile sales action. The 1920′s were exciting times. Roads were starting to get smoother, and automobiles were getting mass-produced. Who wouldn’t want to get in on that?
From Chapter 2 of Become a Franchise Owner!
“Let’s pretend for a moment or two that you’re living in 1920. You’re 25 years old, married, and the proud father (or mother) of three beautiful children. You work incredibly hard, make an average wage, and enjoy your family time on the weekends. Recently, you purchased a brand new Ford Model T – a very nice automobile. Your family was so excited when you first brought it home, and that first ‘family drive’ was magical — a truly life-changing experience for all of you.”
How cool that must of been. Let’s continue;
“This same life-changing experience was repeating itself over and over again, all across America as more and more people were buying cars. (That’s because Henry Ford was building them really, really fast, and he was committed to manufacturing automobiles that were very affordable.) So naturally, you wanted to drive your automobile more. You felt a newfound freedom. What used to be a really small world all of a sudden became bigger; trips that used to take days now took mere hours. You came up with a list of all the places you wanted to go and all the people you wanted to see. It was almost like all the new paved roads that were being built, were being built just for you.”
The first franchisees of automotive companies were definitely risk takers–real entrepreneurs. But, they didn’t have something that most of today’s franchisees have; an exclusive sales territory.
I Have Nora’s Back
One of things I’m doing, as Nora Peterson’s franchise advisor, is helping to protect her. Remember, I’m a recovering franchise broker; I’m not getting paid a commission to match her up with any specific franchises. I’m not saying that there’s anything wrong with choosing to work with an ethical-well-trained franchise broker. It’s just that I am a franchise ownership advisor, and I provide paid advice. (Except in Nora’s case; she won my franchise services as part of her #OWOF prize package.)
Protecting Nora–and you, if you are looking to explore franchise ownership with me, is job #1. So, if Nora decides on a franchise business opportunity that doesn’t have protected territories, I’ll advise her to take a few days off, (from her search-she still has a job) and meditate on the decision that she’s about to make.
And, I know first-hand what it’s like to not have a protected territory as a franchisee.
Finally, if you have a business that you’re thinking of franchising one day, don’t create your offering with non-protected territories.
It’s a stupid model.
Are you getting close to a yes or no decision on a franchise?
Good! Just don’t pass go until you pay $125.
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About The Franchise King®