Business Advice

What People Don’t Tell You About Franchising!

August 24, 2017 11:00 pm Published by

When friends and family find out that you are thinking of purchasing a franchise, are they happy for you? Worried? Perhaps they are business owners themselves and have been in your situation before, maybe they offer their own advice? We’ve compiled a list of the things people should tell you but often don’t about franchising (and starting your own business).

 

  • Running your own business is going to be tough! Ok… maybe they have mentioned this before! What they probably don’t tell you is that at some point you will become the sales director, marketing executive, accountant, buyer, delivery driver and perhaps many other roles in your own company or franchise. The demands on you as a business owner are going to be great and in the early stages, you will have to become all of these people as you probably won’t be able to afford external help and staff.
  • You’ll become a bank of useful knowledge! You’ll start to read more, investigate things, find solutions, improve processes and suddenly you’re a bank of useful knowledge and expertise.
  • You should make time to work on it, not in it! You’ll spend all day working in your new business but you won’t have spent time working on it. You’ll need to keep pushing your business forward, finding clients, working out the strategy, etc. Most business owners get wrapped up working on the daily tasks and forget the most important part, make time for this and drive your business success forward.
  • Your relationships will be affected! Owning your own franchise business (or another business) will change your social life, I’m sure everyone already knows this and they’ve probably mentioned it! You’ll spend lots of time working and perhaps friends won’t understand why… Our advice is to make time for these important people and make time for new relationships. People will enrich your life in aspects you don’t get from the business world so take time out to be social.
  • You’ll need to stay positive! Even when the going gets tough, staying positive will help you through it. There is always a light at the end of the tunnel and your hard work will pay off. Successful entrepreneurs pride themselves on staying positive and seeing the best in even the worst situations.
  • You will wonder how you ever managed to work for someone else! Working for yourself can be liberating, flexible and very appealing. You’ll feel so passionate about your work that you won’t be able to imagine working for anyone else in any other job… keep loving what you’re doing and stay passionate.
  • You’ll see potential everywhere! Working on your own franchise business will enable you to see the potential everywhere you look. Every situation and experience you encounter will become a lesson and you will be able to put it to great use in your own business.

Are you a business owner or considering becoming one? Perhaps you’re thinking of opening a franchise? What challenges do you envision and how will you face them? Get in touch via email nav@homecarepreferred.com. Or you could connect with me on LinkedIn and find us on Twitter and Facebook.

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This post was written by Home Care Preferred