Joel Libava
I’m not going to leave you hanging.
The most important thing about a franchise opportunity is the product.
Period.
Let me give you a real-life example.
A Great Pizza Pie
Recently, a new pizza franchise opened their doors near me.
Not being an early-adopter, I waited until I “heard” a little more about their pizza.
Once I did, I ordered a couple of pizzas.
They were good. Like really good.*
And as an added bonus, the customer service was impressive.
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As in, “We’ll do whatever it takes to make you happy.“
Now, that’s not what the employee who provided superior customer service said.
It’s how she came across. And it was authentic.
It’s something that matters to me. Tips increase in size when that happens.
The Most Important Thing About A Franchise Opportunity
If this small pizza company does things right, meaning if they maintain product consistency and keep their customer service the way it is now, they may have a winner on their hands.
But pizza.
I know. There are hundreds of different pizza franchise opportunities available.
And there are pizza shops everywhere. Both independent and franchised. Thousands of them.
But a lot of them are busy. Profitable, too.
It all boils down to this.
If the franchise opportunity you’re interested in offers a high-quality product or service, it’s much easier to get customers in the door. It’s also a lot easier to keep them coming back for more.
And if you keep your expenses in line, that equals profit.
Bottom line?
A franchise opportunity that consistently offers a great product/service is a franchise I’d want to look into.
And you should too.
*If I say the pizza is good, that means it’s met my extremely high standards. Just ask my wife or daughter.
Ask them how many times I’ve said “the food’s okay” during the numerous in-person or take-out activities we’ve undertaken for decades.
To put a final point on it, whenever I say the food’s “really good,” they give me a look…followed by a smile, because I hardly ever say it.
Do you agree with my statement?
About the Author
Joel Libava is The Franchise King® — an independent franchise advisor with 25+ years in the industry, two published books on franchising, and his writing has been featured in The New York Times, Forbes, CNBC, Entrepreneur® Magazine and others. In addition, he wrote exclusively for the U.S. Small Business Administration blog for eight years. He doesn't sell franchises. Instead, Joel helps you figure out if franchise ownership is actually right for you — and if it is, teaches you his powerful, proven-to-work franchise research techniques, so you can make a smart, informed decision on a franchise to own and be your own boss.
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