Here's how you can thrive as a self-employed franchisee rather than working for a company.

Aligning with the core values of the brand you decide to franchise with is absolutely key. Every decision the franchise makes should be based around the company's mission, vision, and values. If you aren't aligned upfront, then you'll inevitably find difficulties in the future.

If you are planning to go the self-employed route in a franchise out of the gate you'll need to make sure that you account for living expenses in addition to the startup costs of the business. The number of months you should account for will vary depending on the brand but in most cases, I would recommend at least 6 months of living expenses.

If you are going it alone, don't quit your day job. You will need to show income for lending and reduce your risk. If you are a couple, make sure one continues to work while the other will be an operator. I am a big fan of looking to buy existing franchises with cash flow and existing customer base. You can buy a business doing break even and grow it into profitability. Create a minimum 3 year pro-forma on financials, expenses, expected revenues, cash flow etc.. and become an expert on keeping up with your monthly P&L's. Finally, rarely will just owning 1 franchise meet long term wealth building goals, strive for multi-unit ownership.

Thoroughly review the FDD and the financial figures provided, keeping in mind that the disclosed amounts are just average financial results for the entire franchise network. Meet with a CPA to review the FDD and develop a realistic cash flow projection and budget for at least the first 3 years to see if you will be able to cover your living expenses and any required debt service. Also need to consider how you will handle health insurance coverage as a new self-employed business owner if you previously had coverage through your employer. And finally, consider talking with other new franchisees in your network about their real-life cash flow experiences after they opened and their average start-up costs.

Many first-time franchisees often view marketing as an 'expense,' which can see them cut back on marketing efforts until revenue increases. This is a mistake. Marketing should be seen as an 'investment’ and undertaken consistently. When marketing is viewed as an investment, it’s easier to understand that it can generate a return in the form of increased revenue. By consistently investing in marketing, self-employed franchisees can drive customer engagement, build a loyal customer base, and ultimately boost sales. Consistently nvesting in marketing is investing in the future success of your franchise.

Marketing represents way more opportunities than the way traditional businesses currently understands this concept. Marketing isn’t just investing in a fancy communication tool with the goal to influence an audience. Marketing is a holistic view of strategies and tactics to create value. Spend time asking the questions around the 7P framework, understand and individualise the offer to customers, employees, collaborators, the company and the community.

While you'll be well resourced from the national brand, it's important to realize that you'll be the face of the brand in your territory. This means getting involved as much as possible with local events, working with other businesses, and maintaining a positive image.

Community and gorilla marketing works best for almost any franchise brand. Draw a 3 miles radius around your business and make a point of visiting and offering incentives to other businesses that can do cross marketing with you and drive business to each other. Think outside the box, can you sponsor the local high school with uniforms, hold a Disney character day and invite families to bring their kids, be part of a raffle give-away at the local golf tournament. Put you as an owner and your brand front and center and live up to the promise on customer service and experience regardless of the product offering.

Escolher uma franquia n?o é uma tarefa fácil, ter um senso analítico e crítico nessa fase de escolha é essencial. Muitos candidatos a franquia muitas vezes se deixam levar apenas pelo nome da marca, momento de fama do segmento ou por puro status e depois as consequências podem trazer muitos desgastes e prejuizo financeiro. é extremamente importante avaliar a fundo a marca, conversar com o máximo de franqueados que já est?o dentro do negócio, no documento COF - Circular de oferta de franquia possui o contato de todos franqueados e ex-franqueados e é natural que irá ouvir relatos positivos e negativos porém visite unidades, tente entender como funciona o suporte e qual é o nível de satisfa??o dos franqueados atuais em rela??o a franquia.

As a self-employed franchisee you truly have the opportunity of blowing the top off of what you might earn in corporate America. If you can build teams in one unit, you can do it in 3, 5, 10, 20, etc. This is where real wealth is made. Additionally the ability to earn your time back will also provide for a lifestyle many yearn for. Franchising is not for everyone, it requires following the systems and processes outlined by the franchisor.