One of the major appeals of franchising is that it’s a proven system and established brand that exists, drastically reducing the start-up risk. BUT, your ability to succeed as a franchisee depends on your personality, leadership style, and desire for creative control. Here are five signs franchising may not be for you.
You’re rebellious
If you’re a rebel, aka a business disruptor with innovative ideas, you might conflict with a franchisor. Creativity is a beneficial attribute of business leaders, but as a franchisee, you’re legally required to follow the rules. So, if you’re the type to feel restricted when you’re unable to implement your own operational plans, franchising is likely not the route for you.
You prefer independence over teamwork
Franchise ownership is a team sport. Collaboration is not only appreciated, it’s expected. Franchise systems derive their brand strength from the combined efforts of their franchisees, often referred to as a family. If you prefer to work, lead, and make decisions alone, franchising will not match your style.
You don’t like criticism
Franchise owners are exposed to an unlimited stream of advice, feedback, and constructive criticism. This is how franchisors build and maintain the strength of their franchise system. Active listening, understanding, and acceptance is required in order to continually improve as a franchisee. If you’re not willing to be a part of a continual feedback loop, franchise ownership is not a fit for you.
You appreciate complexity over simplicity
By nature, simplicity is the key to a great franchise business. Its model is relatively easy to replicate. For that reason, a franchise brand’s ability to succeed is dependent on its simplicity. If you thrive on complexity and prefer business processes that are difficult to replicate, you should steer clear of franchising.
You lack a support system
A large contributing factor to a franchisee’s success is a robust personal support system. This includes your family, friends, and colleagues. Without the strong support of those close to you, franchise ownership is a difficult road to travel. If you don’t have a network with a collective interest in seeing you succeed, consider a path other than franchising.
Achieving success in a new business is possible in many ways. Franchising is a great way to do it, but it’s not for everyone. If you like to march to the beat of your own drum, that’s ok, but when it comes to starting a business, you might have a better shot at success with an ownership model other than franchising.
