Owning a Business as a Franchisee: 3 Things You Need to Know
Opening a franchise offers individuals distinct initial leads, connections, and business models that other start-ups simply do not have. Here are three things to know about owning a business as a franchisee:
Secure the Proper Funding
One of the greatest benefits of being a franchisee is that, in the eyes of financers, you are not a high-risk start-up. If you are offering services your community needs and using a trusted business model as a guide, you should be able to obtain enough capital to get your franchise off the ground. Starting any business can be a challenge so make sure you have enough capital on hand to sustain the company through opening fees and the first few months of operations.
Image One Chicago takes pride in locating, training, and supporting (financially) their employees to ensure they have the assistance needed to maintain their franchise. For more information, please call 630.616.1010
Expand Your Business Skills
Owning a business as a franchisee means that you do not have to start from scratch. Follow corporate models and successes. You should train yourself in general business management, but also understand the ins and outs of the company. If a local customer knows the nationally branded corporate name, he or she will expect certain things. Make sure you can prove your expertise in the field and deliver what the customer needs.
According to Joe McKendrick for ZDNet, some basic business skills to brush up on include:
- Time management and the ability to organize and prioritize tasks
- Cultivating and maintaining strong relationships
- Politeness and respect
- Flexibility and adaptability
All of these skills are necessary to help your business grow and thrive.
Personalize and Localize
Although your company will reflect the corporate name and structure, you still need to draw in local clientele. Depending on your location, your products, required equipment, or hours of operation may differ significantly from other areas. For example, cleaning companies in cities that receive a lot of snow need special skills and equipment to prevent water damage or remove rock salt from tile floors and carpeting.
Your advertising and marketing teams can also be a little more location-specific. As Taylor Hulyk for Mashable writes, your franchise can benefit from having its own social media strategy. This practice is especially useful if you post location-specific content and plan to engage with customers online on a regular basis.
Are you interested in Image One franchising opportunities in Chicago? Fill out our short online form or call us at 630-616-1010 to learn more!