How to Gain Support in Your Business Venture

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How to Gain Support in Your Business Venture

Every successful brand needs support. It needs support in terms of business – new and repeat customers who bring in business that ultimately pay the bills. But a brand also needs emotional support – those employees (and yourself, the owner) talk to after a rough day or when things have gotten bad. And finally, there are logistics support that is needed by franchising locations – this can be funds, companies that are hired out to help with tasks, and more.

All of this support combined is what brings on success. It's what allows a business to move forward, create progress, and grow in income and in reach.

This help is what can make or break your business as a whole. It's what makes your franchise a reality and lifts responsibilities off of your own back and makes work days doable, productive, and forward-moving.

But how do you get that support in the first place? Or if you already have SOME support, how do you get MORE?

Investment Money for Your Franchise

First things first, let's talk funding. After all, without money, you won't be able to get your brand off of the ground. If you haven't already, work up a plan for funding your business. Talk to banks, pitch to investors, dip into your savings, and more. Talk with your potential franchising brand about your options and determine where the money will come from. This is an important part of establishing your business, after all, you need to know who is owed and how much funds are available for your franchise location.

Once your plan is in place you can move toward getting more money (if needed) and creating your best plan of action.

Remember, for your best pitch possible, study your numbers, business plan, and every aspect of the company so you can prove you really know your stuff to potential investors. However, it's important to be yourself and to show off your personal skills, too. More than anything, lenders and/or investors will be paying into YOU. They want to get to know you, see what your capable of, and learn how you are as a person – this is what will convince them their money will be well spent. Show off who you are and PROVE you're a great investment.

Emotional Support is the Backbone of Any Business

Becoming self-employed is not for the faint-hearted. It's ok to lean on those around you, in fact, it's expected of you. Seasoned franchisees will also tell you to talk with and gain emotional support from those who are close to you. There is no sense in stressing alone or telling yourself you can solve every problem – this will only drain you emotionally. It will become too exhausting. Keep your support system in the loop – in the same way that they would help them emotionally, they will help you. They will help build you up, provide pep-talks, listen to you complain, and more. All of those things will be needed on a frequent basis as you're opening up your franchise. Talk to your significant other, family, friends, mentor, or anyone else in your life who are close to you.

Support for Daily Logistics for Your Franchise

Finally it's time to talk logistics. What steps do you need to take to gain help with tasks, transportation, or any other aspect of your franchise? When specialized services are needed, it's best to hire out so you can ensure all is done correctly and efficiently.

But what needs done and who should you hire to do it? Luckily, this is one of those areas where you can work closely with your franchising brand. They will have the best advice as to which tasks are better done by others, and which you should handle in-house. Then again, every franchisee will be different, so be sure to look at your own skills and which ones you can bring to the brand, while leaving your areas of weakness for others to help with.

You should also network and ask around. Who's the best in the area? Who comes highly recommended? The more you know, the better decisions you can make for your brand.

Franchising is a big move, but you don't have to do it alone. Look for support from others in all areas for an effective way to gain feedback, help, and the pick-me-ups you need to grow.

By Bethaney Wallace | Jan 22, 2019 | General Franchise Information