What does it take to own a franchise? In many ways, the responsibilities of a franchise owner align quite similarly with those of a small business owner. Even though they are essentially the same, the franchise owner starts off with a few more advantages.
There are many franchise concepts and some of them offer a type of product or service that connects directly with the customer. Depending on which franchise you choose, you could be very involved with the public on a daily basis. If you don’t have the patience or personality to deal with complaints, demands and the occasional attitude, then you might want to look for a franchise that does not need you on the front lines. Carefully understand the outline of your responsibilities and don’t settle for something you aren’t passionate about.
As an owner you need to make sure you have a strong team of employees, so you need to prepare for effectively training and motivating your team. The franchisee’s training and on-going support will come from the franchisor; however, the franchisee must pass on his or her knowledge and use it to better their individual operation. (more…)