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Five Steps to Success as a Franchise Owner
March 3, 2021
When most franchise candidates get to the point where they are ready to sign a franchise agreement, it is normal for some fear or anxiety to creep in. It’s natural to feel this way. Starting a business is no simple task! It takes the right mindset just to do it, let alone overcome the obstacles you will inevitably face in your early years as a new business owner. When that fear starts to creep in, I try to remind each of our incoming owners of these simple steps that will help them reach their goals.
1. Trust the Process.
Buying a franchise has many advantages! We spend a few months educating you on the systems and process that HomeWell Franchising has developed, that will help you launch your business smoothly, and quickly. Potential candidates have the opportunity to speak with our existing franchisees and learn from their experiences. Once the contract is executed, there is a lot of training that new owners have to go through. And a road map will be provided by your opening services manager to assist with a successful opening!
2. Know Your Business.
Perhaps HomeWell is not your first business, and this is more of an “investment” for you, and you will be hiring a manager to run it. Maybe you are leaving your current career and “going all-in.” Either way, you need to know ALL aspects of your business inside and out. This includes what to look for in an employee—how to acquire and treat your customer—and how to deliver the product or service yourself. As the business owner, it is important to own this responsibility. Luckily for you, at HomeWell we have a robust training and onboarding process that will set you up for success, and get your business moving on the right track from the start.
3. Ask for Help.
Again, you are investing into a franchise for a reason! The network and support from both corporate AND other franchisees are invaluable. It is highly likely that within the first few months of launching your business, something will come up that you were not prepared for. Do not attempt to “figure it out” on your own, ask for help. At HomeWell you will receive regular support calls from a member of our franchise services team. This will give you the opportunity to talk to an expert about the obstacles you are facing. We also encourage our new owners to reach out to other franchisees in the network. Utilize the others who have gone before you. Chances are, they have already faced whatever sort of obstacle that is coming your way. Leverage this network of like-minded individuals so that you can all achieve greater success!
4. Be Patient.
Success in business does not happen overnight. Everyone knows this. It is said that the first year in business is the toughest, I personally believe that the hardest year is the second year. This is because you now know what you should be doing, and are doing it, but may still not be seeing your intended results. Stay the course. Remaining patient and consistent will allow you to push thru these barriers. Every business will reach this point of critical mass at different times. For some it might take 3 months, others it may take 3 years, but if you lack the patience to see it through, you will never reach your goals. I like to say, “Businesses do not fail, Business owners give up.”
Don’t give up.
5. Believe in Yourself.
If you have done your due diligence, you must believe in the product, the brand, and the systems and processes that the franchisor has in place. If you do not believe in that, you should not be signing a franchise agreement. Now all that is left is believing in yourself. At HomeWell Franchising, we make a concerted effort to truly get to know our incoming franchise owners both personally and professionally to ensure that we have the right “fit” on both sides. If the feeling is mutual, and we believe in you as much as you believe in us, the sky is the limit.
Now Go Do It!
The journey to franchise ownership is non-linear. Most people begin online and may engage with a few brands but then they table the idea for the future. Unfortunately, if you are still waiting for the “right” time to start a business to come along, that time may never come.
The truth is there is no “perfect time” to start a business. HomeWell Franchise Owners act. They invest in themselves so that they can make a difference in the lives of others. Are you ready to act?
SVP of Development & Franchise Services
HomeWell Care Services
O: 817.916.8904 | M: 978.891.7145