Reading about franchise ownership isn’t thrilling.
It’s interesting…even entertaining at times. But, it’s not thrilling. We’re talking about business articles here, not Stephen King novels.
Out of the close to 2000 articles on franchising I’ve written over the years, I can’t think of one that I’d call “thrilling.”
Admittedly, I’m an average writer. But, I’m better than I used to be thanks to people like Ann, Chris, Jon and Sonia-who have taught me how to be a better writer. Maybe someday I’ll be able to compose a “thrilling” article on franchise ownership. Maybe. Until then, I’ll just continue to do what I’ve always done; provide tips and advice on choosing, researching, and buying a franchise.
This Was Thrilling
Becoming the owner of a franchise business-any business, actually, can be pretty thrilling.
In my case, when I joined my Dad’s business in 2001 (after being fired from a very dysfunctional place) there were definitely things I was thrilled about.
1. I didn’t have to stand in line at the unemployment office anymore.
2. I didn’t have to go on job interviews anymore.
3. I didn’t have to work for anyone anymore.
Good stuff people, trust me. You should try it. You should try working for yourself.
It’s quite thrilling.
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How To Experience The Thrill Of Franchise Ownership
To really experience the thrill of franchise ownership, buy a franchise that has huge growth potential in your area of the country. A franchise that is looking for aggressive franchisees….ones that envision owning more than one franchise unit.
Multi-Unit Franchise Ownership
If you want to experience the thrill of franchise ownership, own multiple units. Seriously. Find a franchise opportunity that encourages multi-unit ownership. They’re out there.
How Multi-Unit Franchises Work
When you purchase a franchise as a multi-unit franchisee, you’ll sign a multi-unit franchise agreement. The agreement (the franchise contract) includes what’s called a “build-out schedule “or “development schedule.” This “schedule” lays out the exact way your franchise business is going to grow.
For example, your agreement may state that you must open your 1st franchise unit within 9 months of signing your agreement, the 2nd unit must be open 18 months after your 1st unit opens, and your 3rd unit must be open 18 months after your 2nd unit opens. Does that make sense?
So, in that scenario, you would have 3 franchise businesses up in running in just a few year’s time. And, you don’t have to stop there. Several people I’ve helped get into business over the years own 5, 6, even 7 franchise units. That’s thrilling.
Imagine what it would feel like to cruise around town checking on all of your franchises…your businesses. Imagine collecting the day’s receipts…the money, from each and every franchise unit you own, and making those bank deposits. Sounds thrilling doesn’t it?
More thrilling than just reading about it.
If you’d like to learn all about franchise ownership, check out this comprehensive article on how to buy a franchise.