The Franchise King®

True or False? “With a Franchise, All You Have To Do is Follow The System”

franchising follow the system
What a powerful statement!

But is it a true statement?

(This post may contain affiliate links. Please read my disclosure policy).

In other words, if you buy a franchise, do you just have to “follow the system” to succeed?


 

The Answer

The fact is, you need to do a lot of things to succeed as the owner of a franchise. Following the system is only one of them. Therefore, the answer to the question I posed in the title of this post is “False.”

That said, here are a few things you can do to increase your odds of success as the owner of a franchise business.

 

Make a Smart Choice in a Franchise

Your journey to successful franchise ownership starts with the franchise opportunity you end up choosing. Do you know how to choose a good franchise? Do you know how to make a wise choice in a franchise to own? Do you know how to figure out the cost of a franchise?

Here Are a Few Ideas

One way to choose a franchise is to use franchise opportunity websites.

Another way involves reading (and implementing) my free step-by-step guide.

If you want, you could always work with someone who offers “Free Franchise Consulting Services.” (But only after you’ve read this eye-opening article)

Lastly, you could do it the smart way, and get 1-on-1 franchise ownership guidance.

The trick here is to do whatever you can to avoid snafus like these.

 


Business System Defined



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From Box Theory Gold.com

A system is a procedure, process, method, or course of action designed to achieve a specific result. Its component parts and interrelated steps work together for the good of the whole. Creating effective business systems is the only way to attain results that are consistent, measurable, and ultimately benefit customers.”


 

Systems Are Great

A solid business system is what makes franchising great. Especially if you’re someone who wants to get in business fairly quickly. Think of the time you’ll save!

That’s because most franchises include:

  • An inventory system
  • A marketing system
  • An employee-training system
  • A point-of-sale system
  • An IT system security system
  • A security system
  • A payroll system

And more.

In contrast, if you decided to start a business on your own, those are things that you’d have to research, purchase and configure. It would take months to do.

That said, if you do have a great idea for a business, and you’re willing to take the time to put your own systems together, I encourage you to go for it.

 

Ambassador Jacobson Helps Out at Five Guys Burgers (9133435739)
(A Five Guys Franchise Business in Action)
 

In Franchising, Follow The System

Owning and operating a franchise business isn’t all unicorns and Bundt cakes. (I just came up with that phrase)

In other words, it’s not always easy. It’s not always magical.

As a matter of fact, business ownership (franchise or not) can give you an ulcer.

That’s because there’s a lot of pressure…and it’s not like you can up and quit if things get tough.


FYI: Actually, you could quit. You could walk out.

But you’d be in a lot of trouble.

There would be lawsuits. Your credit rating may be destroyed. You’d lose money. You may even feel embarrassed. And things at home would be stressful.

(Aren’t you glad you read this post?)


The good news is that those things can be avoided if you…wait for it…

Follow The System

As long as it’s a good one.

 

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joel libava

I'm The Franchise King®, Joel Libava. I help prospective franchise owners avoid bank account emptying mistakes.
For 23 years, I’ve been showing people how to make smart, informed decisions on franchises to buy, and I can help you, too!
P.S. I'm not a franchise consultant/broker.

Joel is Highly Principled
There are many people in the franchise business who claim to to be experts in the field. Unfortunately many of them lack both knowledge and integrity. Joel, however, is without question one of the most qualified and principled people I know, in or out of his industry."
- Greg Reynolds, Retired Outplacement Counselor
"Many receive advice, only the wise profit from it."
- Harper Lee