The Secret of Monster Franchise Success as a Franchisee: Move Deliberately
and With Patience
by Michel Leconte
The great news about a franchise business opportunity: Franchises which are
well-considered and conceived by the correct parent franchiser are tailor made
for easier, bigger, and more sustainable success than a non-franchise
opportunity. That advantage isnít to be taken lightly.
Business can be two different things to two different people. To the
ill-prepared or ill-informed, it can be failure waiting to happen. To the
properly instructed and fully apprised, it stands a super chance of being the
greatest investment you could ever make. Where there once was drudgery and
uncertainties working for someone for less then you are worth, there is now
freedom, opportunity for limitless growth, passive income, and the control you
always lacked in a traditional job.
The key to remember is that a franchise opportunity particularly has an
upside for the achievement of those positives faster and to a much more
prosperous level. If you take nothing else from this article just remember that
the myriad of great advantages in having a franchise are the function of a
successful franchise, not from simply buying into a franchise.
The comforting news is that in a franchise this build-up process to success
is much more die cast and paint by numbers. A good franchiser will
understand the pitfalls that could bedevil you as a franchisee and will have a
tested and proven path laid out to better insure success. On your end, consider
exercising some of these basic approaches and strategies to maximize your
1. There is a contract which often contains a long
disclosure document where it is spelled out what you as franchisee and the
franchiser must do to make this work. This document is usually quite
detailed and voluminous (aka many pages). You must understand it front to back,
and top to bottom. The mindset to be avoided is one of excitement to get
started getting in the way of being fully-informed. There are a lot of
similarities between a house closing and a franchise agreement in this regard.
Donít rush and definitely ask any and every question that springs to mind. Seek
clarifications in writing. If it isnít in writing, it didnít happen.
2. Make sure you have a lawyer with a business
contracts specialty, preferably one that has worked on franchise agreements.
This is money you canít afford not to spend.
3. This one seems obvious and is easy to do:
contact multiple current franchisees. Hereís a good rule of thumb: When you
think you are satisfied: contact 3 beyond that. The more people you talk to, the
better feel you will get for this franchise opportunity and events you arenít
currently contemplating. Consider both short and long-term franchisees, ones
that have multiple locations and ones that have a single franchise, and seek
input from struggling as well as successful franchisees.
4. Setting aside reserve money for the early
days and unforeseen expenses is a must. Ask other franchisees how much they
recommend and then consider having minimum 25% more than what they tell you for
use in the business and to maintain your personal expenses while the franchise
gets up to profitability.
5. Be a master of your market and the
marketing side of your business. Take the extra time to fully understand your
market demographics, population trends, competition, and benefits/drawbacks of
your location. This is a great place to ask the successful franchisees in your
potential franchise what exactly they did to feel comfortable with their
potential market prior to buying in. The successful franchisees will very likely
love playing the role of expert.
also means having a full understanding of the franchisorís rights and
responsibilities in marketing. Make sure you are fully comfortable
with what they will be contributing as it is laid out in writing.
SEO Samba Corp.
40 E Division Street, Suite A, Dover, DE 19901
Skype Id: seosambasales
US: +1 (877) 450.9894