By David Blue

Follow The Yellow Brick Road

Guide to becoming a Successful Franchise Owner

The franchise business model is a great way to become your own boss but by no means is it a get rich quick scheme. Blue Moon Estate Sales has produced successful franchises across the country and has found 5 things that the most successful franchise owners do.

  1. Join the Franchise: What do you need?

In today’s market there are thousands of different franchise concepts that you will be able to choose from and it is extremely important to join a concept that sends a tingle of excitement down your spine.  You are entering into a long term partnership, so picking a model that excites you is the most import part of the process, otherwise you are setting yourself up to fail before your first day as a boss.

Unfortunately enthusiasm for the business model will is not the only thing franchisors are looking for in potential franchisee’s. You need to get along with the franchisor and show that you are deserving of such a wonderful opportunity to join a franchise family. One of the most important things is money. You need to pay for the rights to the franchise and support yourself during your first few months on the job. No new business is booming the day it opens up shop so it is important to have some financial security during the early stages of your business.

  1. Be a Sponge

Being your own boss is why you wanted to join the franchise model but you have to come with great attitude and be a sponge during training. During your training you are taking a class from the experts (franchisor) on how to run your business. The better student you are in this class the fewer problems you will make during your start up phase of the business. Once school is out, the real test begins and success is not measured in production not grades.

During training you should take notes, and actively participate in everything. Throw yourself into situations that may feel uncomfortable and be sure learn about every position in the business. You may be the boss, but your ability to teach your employees how to operate your business will greatly factor into your success as a franchisee.

  1. Copy and Paste Everything

The power of franchising comes from branding and consistency in a product or service. Every new franchisee needs to understand that they represent a collective brand and not just one location. It is imperative to adhere to the systems that the Franchisor has in place to ensure consistency across the brand. Every system, procedure, and tool has a purpose and been proven out in the field.

Going rogue on anything causes headaches for both you, and the franchisor, no matter how big or small.  Time and time again franchisee do not follow procedures and the franchisor needs to troubleshoot the problem. The best way to climb the ladder and become the top producing franchise within the brand is dot every i, cross every t, and follow the business model you paid for to the best of your abilities.

  1. Ask for Help

During your time in training you are taking a class on how to run your business model successfully but sometimes situations will arise that were not covered in training. If you are not quite sure what to do, get on the phone and ask for help. This is the reason you joined the franchise business model and why you pay royalties. All along the way it is the franchisors job to help guide you through any situations that come up.

Franchisee’s get in trouble when they try to solve big problems by themselves, with other young franchisee’s, or ask for help when it is too late. This is still your business to run but if there is an unfamiliar situation, reach out to your franchisor and get help from the experts.

  1. Work your butt off

Yes, you are given a model to follow and there is going be lots of help along the way, but as we have stated before this is not a get rich quick scheme and being the boss takes a ton of work. If you want to be one of the top franchisee’s in the company you must earn it. The secret sauce for success is heaps of early mornings and late nights, a few pounds of elbow grease, couple gallons of eyebrow sweat, and a hefty portion of execution.

Follow the business model you bought into, work harder than you ever have before, have some fun along the way, and enjoy the rewards of being the boss of a successful franchise.