The 4 Things All Successful Franchise Owners Have In Common
‘How much money will I make?’, is one of the first questions most people ask when they start looking into buying a franchise. The answer? How successful you are as a franchise owner really depends on you.
Yes, the franchise model, back-end support, systems and operations are all important – but while these elements set you up for success, achieving that success is something only you have the power to do.
Over the course of our 30+ years experience at O2E Brands, we’ve identified not only what makes a great franchise partner, but what makes a successful one: and there are a number of traits that they all have in common.
What are they, and do you have them? Read on to find out.
If you’ve decided you want to be a business owner, then you have to be all in. And to be all in, you have to really want it. You have to want to be your own boss. You have to crave taking control of your future. You have to be committed to changing your life by building something that is yours. You have to know that you’ll do whatever it takes to get there.
Running a franchise requires a strong drive and motivation for success, and that’s what we look for in our Franchise Partners. People who aren’t afraid of hard work. People who understand that sure, it might be tough at first – but that putting in the work now means reaping the rewards later. Successful franchisors are the ones who look at the big picture, not just the ‘right now’, and have a clear idea of where they want to take their business. They don’t just head into year 1 asking: ‘when is the money going to start rolling in?’ – they think about year 2, year 5, year 10: and work towards big goals.
What it really comes down to, is this: you get out what you put in. Successful franchisors are those who want to dig in, roll up their sleeves, and be involved at every level of their business – especially in the early years. You’re building something from the ground up, you’re building a legacy, you’re building something you can be proud of – to do that, you have to be hands-on. If your team can see that you’re 100% committed, then they will be too.
Obviously, nobody is relentlessly happy all of the time (that would be impossible, and a little bit terrifying). But what makes a good Franchise Partner is someone with great interpersonal skills and a positive outlook, combined with a ‘yes I can’ attitude. This is key when it comes to interacting with employees and customers, because creating loyalty, value and trust is the foundation of any successful business.
Think you have what we're looking for? Schedule an intro call today by reaching out to our team at firstname.lastname@example.org