What’s Your Ideal Style of Franchising?
Franchising can come in many different forms. From small kiosks at the mall, to booths, to large buildings as stand-alone businesses — these models and more all exist as franchises. Then there are styles of sales, industries, and varied business models. Essentially, franchises exist across the board, in every size, in every style, and every method of business.
There are tens of choices. The key to finding your highest level of success, however, is to find the model that best suits your needs.
Once you narrow down your strengths and preferences, the pool of available brands becomes far less overwhelming and far more attainable.
Start by asking yourself a few questions.
What type of franchise will make you happy? What style of business will fulfill your wants and needs? And finally, what's an idea that you can become truly passionate about? Without the passion behind your brand, you're simply working to work. Your fire won't shine through. You won't have that drive that pushes you to higher and higher levels of success.
Answering each of these questions will streamline the searching process and bring you to your best franchising fit.
What Excites You?
In order to be your best you, that love for the job is key.
In order to find that perfect match, determine what excites you. What type of industries can you see yourself working in? What makes you want to get out of bed each day and hustle? If you stop and think about it, people are as different than the businesses themselves; there's a mutually beneficial match for everyone.
Look to your interests, as well as business models you find intriguing. While you might not be ready to take on direct sales, marketing a service or selling a product in-store might be a better fit. If outdoor services sound like a snooze, perhaps running data sounds like a good time. Everyone has their own skillsets that will shine through.
If you're having a hard time deciding what interests you the most (we get it, there are a lot of options to choose from), look at your previous jobs. What skills did you learn? Which tasks did you enjoy? Which did you avoid at all costs? Narrow down your search by looking at the chores you prefer over those you dislike.
Next, take a look at business models. What types have you worked in in the past? You can use this same approach when eliminating types of franchises – look at what's available, then match it to your previous experience, as well as your preferences.
Now it's time to look at what resources you have, including time and money. Some franchisees have more time to give than dollars. Others want to invest and remain out of the picture. These, too, are varied styles of franchising business models.
Consider what resources you have most available and how each style of brand might fit into what you bring to the table.
When is Work Not Work?
Finally, it's time to talk about fulfilling your dream of owning your own business.
Anything is considered a task when you do it enough times (or long enough). The key is to find a chore you dislike the least. Find that passion we talked about. If you love cooking burgers, make that your franchise dream. If you love seeing kids happy, rent out bouncy houses for their birthday celebrations. Or rather, if you're a firm believer that spaces should be tidy at all times, cleaning might be your professional calling.
There are so many areas of business that you won't have to "settle" with your franchise venture. Find the industry that calls to your heart and see what brands are available in that field. Next you can start narrowing down each brand name by business model and ideals. Even your dream industry won't be a good fit if you don't mesh well with its franchisors.
There is an ideal style of franchising for every budding entrepreneur. By taking a little bit of time to research and find your best fit, you can work toward your dream job with the confidence that you have found your calling.