Some people think that opening a new franchise is an easy task because the franchisee can benefit from the knowledge of the franchisor. The fact is that opening a new franchise takes just as much work as opening any other business.
There are several things that you should be prepared for if you’re opening a new franchise. Understanding these may help you to determine if this is a viable option for your new business venture.
Long hours and hands-on involvement
If you’re picturing a passive, turn-key investment, think again. Most new franchisees spend long days—early mornings, late nights and weekends—getting the business up and running. You’ll likely be the first one in and the last one out, especially in the first few months. Hiring and training staff, managing inventory, and handling unexpected issues will fall on you until your team is solid.
Becoming the brand expert
Customers and employees will expect you to have answers, whether it’s how to use the register, where the supplies are stored, or what’s in the secret sauce. Even though the franchisor provides training, there’s still a lot to absorb once you’re on the ground. You’ll need to know the menu, services, or product line inside and out, understand your service protocols, and be ready to respond confidently to customer questions.
There is a learning curve when you open a new franchise, and there’s no substitute for simply being present. Spending time in every role, from cashier to cleaner, helps build your expertise and your team’s respect.
NOTICE: This blog is intended solely for informational purposes and should not be construed as providing legal advice. Please feel free to contact us with any questions you may have regarding this blog post.