Wondering what being a franchisee is like? Ask one

Taking the first step towards business success

It's a big decision to be making: how are you going to start up your new business?

For more and more people these days, one of the possible answers to that question is becoming a franchisee.

Yet for many people, their franchising journey ends before it even really starts.

Because buying a franchise feels like a big investment. And you might not know what you're getting. After all, you've never been a franchisee before.

So the idea goes in the bin. You go on with your plans to set up your service business in the way that hundreds upon hundreds of people have done before you:

You make the same mistakes. Hopefully, you improve slowly over time in just the same way. Ignoring the advantages a franchise could have given you.

But you could have made things so much easier for yourself. All it would have cost you is one good conversation.

The limitations of the franchise disclosure document

If you've ever come into contact with franchising at all, you know what one of these is.

If not, the franchise disclosure document is the name that's usually given to the file of information that your franchisor is required to give you before you sign up to the network.

In this file should be all of the information you need to know. How profitable are other franchisees in the network? How many are there? What territory will your new franchise cover?

The disclosure should give you all the black and white detail you need. Analyse it. Get an expert to analyse it, even.

But numbers only get you so far. What you really need is someone's personal experience. Someone you can ask detailed questions – or maybe just someone who can paint a picture of what their situation is really like.

It's often true that a picture is worth a thousand words. In this case, a few words can go a long way.

What is being a franchisee like? Ask one

In fact, I would say that the best advice that anyone considering becoming a franchisee could ever receive is to go and ask someone who is already a franchisee what they think.

How did they get into it? How supportive is their franchisor? When it comes down to it, do they feel like they got a good deal?

It's pretty basic. But, as with so many things in life and in business, the simple way is the best way. If you want information about what it's like to be something, go ask someone who is one.

Taking the first step, eyes open

What put most people off about becoming a franchisee is the unknown.

Not only are you starting a new business, but you're also doing so with a business partner – for that's what the best franchisors really are – you don't know, at least not well.

The solution is to get more information. For this, you can't beat the personal point of view of actual franchisees who already know what being part of the network you want to join is like.

The first step can be the easiest

Being a franchisee is not the key to a magically easy life. It's still going to call for a lot of hard work. With a well-chosen franchise though, I believe you have the best possible chance of your hard work translating into a successful new business.

Finding out everything you need to know about being a franchisee before you join though doesn't need to be hard. It doesn't need to be a source of confusion, worry or anxiety.

The franchise disclosure document is something you always want to ask for. But the best thing you can do if you're wondering what it's like to be a franchise is find the closest branch of the franchise you're thinking of joining, get in touch and ask them about it.

Are you interested in talking with a franchisee? Let me know! Comment below or DM me.