10 Myths about Being a Successful Franchisee
1. You must follow all franchisor recommendations.
While many of the tools a franchisor provides you have proven successful for most of their locations, the beauty about franchising is the capability to put your own spin on things. There is more than 1 way to succeed, and each franchise location does things their own way.
2. To be a top franchisee, you must be a workaholic.
You don’t have to eat, sleep and breath your franchise to be successful. By working smarter instead of harder, your business will see the results! Invest in amazing employees, create systems that don’t require your direct involvement, and allow the work you do spend your time on to be productive!
3. You need ample business experience.
Franchising takes people without business experience and make them into entrepreneurs. Many of the most successful franchisees willingly stick to the franchise system, instead of using their past experience to steer them against the franchisor. By perfectly executing the proven model, they reap the benefits!
4. Franchising is expensive.
While there are franchises with million-dollar franchise fees, not all fantastic franchise opportunities come with huge overhead! Home-based and service franchises have lower start-up costs. High Touch High Tech offers a home-based model with a 1.5-1.8 million population territory for an incredibly affordable price! By opening a franchise with High Touch High Tech, you can be immediately profitable without breaking the bank!
5. There is no room for creativity.
Franchisors provide the framework and you run your business as you see fit. You can develop your own business administration, marketing, and hiring processes, or focus on operations! By buying into a franchise, you can further your creativity while promoting your brand and business!
6. Franchising is struggle free.
While franchises fail less often than traditional businesses, there is never a guarantee of success. Franchises provide you a support team, so whether you need help with marketing or operations, your franchise family can steer you in a successful direction!
7. Your franchise must have name recognition.
Branding can work for or against you. In PR nightmares, you’ll regret the large name your brand carries. Brand name should have less to do with your choice of franchise, while ROI, business structure, initial investment, and success rates should hold more weight in your decision making.
8. I’ll be successful immediately.
All businesses take time to build. As you make yourself familiar with the workings of your business, you can grow at a rate that is comfortable for you. By doing the legwork in the beginning, you can create a path of success!
9. I’ll immediately know which franchise is right for me.
There’s a reason that franchise consulting is such a huge business. Finding the right franchise that fits you is difficult, and love at first sight is rare. Think with your business brain, do your research, and take the time to understand the details of each opportunity. Schedule a call with High Touch High Tech at anytime to learn more about our opportunities!
10. I need a background in my franchise.
Growth comes from uncomfortable places. You develop transferable skills at each job, and franchising is about running the business, not what the business is. Instead of struggling with ideas developed in past positions, you can start fresh! Having a job is much different than being an entrepreneur!
Franchising is an amazing opportunity which provides hundreds of thousands of business owners to succeed for themselves! High Touch High Tech is the leading education franchise opportunity with a simple, home based franchise model. Get started on your franchise career today and speak with a member of the High Touch High Tech team about our opportunities!