Joel Libava
Successful franchise owners have several things in common. If you’d like to be a successful franchisee, pay attention to the things I’ve listed.
There are actually 10 things that will insure your success as a franchise owner…if you’ll focus on them.
I’ve listed them below, but first, there are several things you need to do-before you become a franchise owner.
Take a look at the 6 things that I’ve listed-that people have done before they signed their franchise contracts.
Do These Things!
This list of things aspiring franchisees do, go a long way in helping increase the franchising success rate. Here they are:
1. They learned all they could about the franchise model
2. They chose a franchise that matched their skills and personal traits
3. They did incredible research
4. They stayed within their budget
5. They got the right franchise business loan
6. They used a franchise attorney
Will you make a commitment to do the 6 things I’ve named? I hope so.
If you do-good things could and should happen. If you don’t-if you choose to be a maverick and ignore one or two of them, several not-so-good things may happen. Costly things. Things that will take a long time to fix.
Let’s continue.
I’ve found that the really successful franchise owners…the ones that consistently rank in the top 20%, do 10 things extraordinarily well.
If you do what they do, you’ll have a shot at real success, too.
Bookmark this post right now so you can refer back to it when you become an owner.
10 Things That Will Insure Your Success As A Franchise Owner
- Follow the procedures that are stated in the operations manual
- Follow the rules and regulations stated in your franchise agreement
- Take the suggestions given to you by your field reps
- Use the technology made available to you by the franchisor
- Follow the franchisor’s marketing plans
- Be obsessive about your numbers
- Create close relationships with other franchisees in the system
- Get involved in the local community
- Be amazingly enthusiastic and positive
- Commit to winning
Bookmarking Bonus!
Here’s another post for you to bookmark:
The Top 10 Ways To Lower Your Risk
Go ahead. Do it!
Success image courtesy of seeveeaar on Flickr
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