http://www.reuters.com/article/2014/01/13/idUS176020774320140113
Picking the right
franchise partner is as personal of a decision as picking out a pair of
shoes. Different franchises appeal to different people-- some flashy,
some practical, some built for endurance and not for looks. Regardless
of if you're shopping footwear
or franchises, the most important thing is fit. You must know what you
are looking for in a franchise before writing that check.
One of the best ways
to shop for a franchise is to become an employee and get an insider's
perspective. When you purchase a franchise one of the most crucial
things you buy, is the system by which the company operates each of its
locations. Since you will be held to a certain level of accountability,
you must be comfortable with the everyday operational tasks that are
expected of you.
The
process of familiarizing yourself with the system may not take place
until your franchisee training begins, which is typically after
contracts have been signed. Unfortunately, this means a franchisee may
not truly understand their workload until it is too late. If you work as
an employee of the franchise before you buy, you can talk to the
managers and assistant managers about their job, read the training
manual, take a look at their customer service policies and see how they
are put into action. Having lived inside the system means you have seen
what the franchise takes to operate and what issues need to be addressed
before the franchise team even knows you exist.
Related: The Top 10 Franchises of 2014
I
originally worked for Erbert & Gerbert's Sandwich Shop when I was
in college, and my experience there left me wanting to own a business
as soon as possible. For years I worked at different food concepts as a
low-level employee, learning the ins and outs and trying to find one
that matched the high standards I had acquired from my years at Erbert
& Gerbert's. When no other franchise met that standard, I made the
decision to invest in the same company that helped me pay my way through
college.
Once a
franchise is aware you are interested in them, they will usually do
whatever it takes to get you into their ranks if they feel you are
qualified. Having objective, personally-gathered evidence to counter or
support the claims you will hear during this process is crucial. Think
of it like dating; before going on a first date how valuable would it be
to know how the person acts in a relationship, what they have to offer
you, how they treat people close to them and what they will need from
you? Working at a franchise before becoming a franchisee keeps you from
convincing yourself you have fallen in love at first sight or walked
into a nightmare date.
Related: From Intern to Franchisee
Erbert
& Gerbert's was not the flashiest or most bombastic company that I
worked with. They did not have the most stores or try to proselytize
their brand. In fact, they focused solely on creating a personal
relationship with me to ensure they would be comfortable allowing me to
use their brand.
I used
my time behind the counter to ensure I could carry their banner proudly.
I was able to balance what I knew of their history, their system and
the support they provide to their franchisees to ensure the system
worked, instead of taking the franchise's words at face value.
Evaluating the systems from the inside, by working low-level positions,
gives you detailed insight you would never be offered by the franchise.
All
franchises worth their salt will provide you with names of franchisees
to call who will discuss with you the joys of ownership and numbers to
show why they are the brand to go with. However, you have to know how
that stacks up against the reality of the day-to-day business before moving forward. Take time to walk a mile in a franchise's shoes,
or at least around the store, before spending six figures on the
figurative pair of Pumas.
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