When becoming a franchisee you are buying a business with a reputable identity and reliable customers. But, there’s a fear on the limitations of joining a franchised company. Will you still have independence?
Most successful brands have an established set of set of values that make them a reliable and recognizable source of good service. As a franchisee you are joining a group that has trust established among people who know, love and often visit the store. Having consistency throughout the business guarantees that similar customer experience for everyone and that reputation travels to every store location. Changing the way things are run at the company can be detrimental to the way customers perceive it.
To be a successful franchisee you will need to follow and implement the franchise’s operation system using strategies already in place to get your business started. But, this doesn’t mean you are sacrificing your independence as a business owner. There are still areas you have a lot of control over.
The Franchise Operating System
When entering the world of franchising you are buying into a brand that has already been proven and you are expected to follow the rules put in place by the franchisor. But, these rules come with the already established reputation of the company. You will not have to build brand loyalty from nothing. When owning an independent business you need to decide on every aspect such as the logo and business model.
With the rules and reputation of the franchisor already in place that offers significant time for you to start giving the brand your own personal spin. You are free from the time and effort required in establishing a brand from nothing. Although the franchisor’s overall brand may come with reputation, it’s up to you to make your location a leading contributor to the company.
Marketing and Advertising
Many franchises have elaborate marketing and advertising strategies in place that the franchisee contribute regular funds toward. You’re contributing to a multi-million dollar advertising campaign compared to scraping your own money into launching your own independent business.
In many circumstance franchisors will be open to new ideas. Every local area is different and altering marketing approaches will work in certain areas. If you notice that a local advertising or marketing opportunity is successful, your franchisor will want to hear about it. Some approaches work better in different areas and as the local business owner you have the insight as to the best way to be successful in that market.
Developing a marketing strategy for your local area will give you a sense of creative independence. From networking to attending local events you will have the brand logo and reputation to help build crowds to your business. The only limitations are making sure you stay within the image of the franchise or brand.
Franchisors respect you have made an investment in their company. You are still an independent business owner and many franchisors are willing to work with you to help drive more success to the franchise.
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