Myth Busting for Franchising

Are you really your own boss as a franchise owner?

Last month we did a poll on LinkedIn to find out what are some of the biggest myths in franchising. 33% of you said that you believe you really aren’t your own boss when you own a franchise.

So, let’s talk about that: Are you your own boss as a franchise owner? Yes!

Many people I work with have been worried that the franchise company is their boss. While they are not your boss, they are always there to guide & support you to build your business according to your goals and vision.

Franchise companies provide a business model that has been proven over and over, and that is your investment. In my opinion, you’re buying the mistakes that they’ve made over time and the framework in which not to make those mistakes. Franchise owners who are very successful enjoy following systems. If a franchise company provides a successful and proven model, most people agree that they will follow it because that is what you’re paying for.

If somebody tells you that they have proven that if you do X, Y, and Z (in that order) to make money the fastest, most will do X, Y, and Z in that order because they, too, want to make money the fastest. If it’s a proven business model, it makes sense to follow it.

Franchise companies provide support and training to constantly help you improve and become more successful. As a franchisee, you have complete autonomy to make your own choices and make your own business decisions as long as they fall within the franchisor’s guidelines.

As you think about becoming a franchise owner, realize that you want to protect your investment and the brand. If you have a carpet cleaning business, you probably don’t want somebody selling hot dogs out of the carpet cleaning truck! If a franchise owner doesn’t follow the system, that can hurt the entire brand. So yes, there are rules to follow, but – at the end of the day – typically, those rules are there to protect your investment. You are in charge of your goals, your decisions, your staff, and your business.

Some existing entrepreneurs worry about feeling stifled in a franchise system.

In my experience, some do feel this way.

However, many have enjoyed the systems, training, and ability to scale much quicker with a franchise. Depending on goals and preferences, some people enjoy newer, ground-floor opportunities where they have room to grow, be heard, and offer new ideas. Others want the “been there, done that” brand that has been proven for years & years and offers stability and predictability.

So… In a franchise, you have the autonomy and freedom to make your own decisions, but you have the safety net and the proven systems and a supportive corporate team. As a franchise owner, you are your own boss and in control of your decisions.

You are in business FOR yourself, but not BY yourself!

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