Small Business Myths That Can Stop A Franchise Before It Starts
Small Business Myths That Can Stop A Franchise Before It Starts
1) "You can’t actually make money that way"
Wrong. In some ways, the idea that you can start your own business, perhaps work from home, and make good money working a small amount of hours may seem too good to be true, but in reality it is possible. For example, a naysayer may doubt it, but some Rotobrush franchisees have been able to bring in an annual income of $75,000 by using their duct-cleaning equipment to clean out the ductwork of the homes of only three clients per week, which equates to much less than fulltime work. It’s a bit of an extreme example, but its point remains: you can make money.
2) "I could never afford to own my own business"
If you have enough money to purchase a decent used car, then you have enough money to buy a franchise. Though taking advantage of a good business opportunity logically seems like it should come at a very high price, this is not always the case. In fact, some of the greatest business options come at some of the smallest prices, like Blind Brokers Network, a business that gives franchisees the inside track on the business of window covers for only $10,000 up front, and American Vending Systems gets its franchisees into an industry with easily the highest profit margin available, again for only $10,000.
3) "Success is guaranteed"
Not all myths paint the situation worse than it actually is. This particular franchising tall tale is a gross exaggeration of the fact that starting a franchise does drastically increase your odds of success because you’re using a tested and functional business model. Think of starting a small business as climbing a steep rock face and a franchise as your climbing harness. It’s true that wearing the harness will greatly increase your chances of making it to the top safely, but it’s not a guarantee.
4) "I won’t have to answer to anyone"
Though a person may not actually say this, often it’s really what the words "I get to be my own boss" would translate to if we were really honest with ourselves. Although when you start a franchise you will get to be your own boss, you will still have to abide by the rules of the franchise, and depending on the franchise you choose, these rules will vary in scope and number. As your own boss in a Griswold Special Care senior care franchise, or as the owner of your own Molly Maid, you do have the privilege of working without having someone constantly looking over your shoulder, but that does not mean that you get to make up all the rules yourself. On the contrary, most franchisors are fairly specific about how things in your business are run, because, first, their method is the one that has worked all this time, and second, their primary concern is keeping the name of their business in good shape. At the end of the day, these rules will ultimately work in your favor as well because you will be able to piggy back off of the successful strategy that got the franchise in question where they are today.
5) "It’ll be smooth sailing"
Once again, a franchise is a great thing because you receive an already functional business model and there is support available to you at every step along the way, but don’t think for a second that there won’t be hard work involved. No matter how well designed the Cruise Planners work at home business plan is, and regardless of how much help you can get from their training and support staff, if you expect your business to flourish, it is going to take hours and weeks and months of effort on your part to make your business succeed.
The problem with any of these myths is that they give business owners a false sense of what they are actually engaged in. Whether that notion leads them away from franchising entirely or presses them into a business that they aren’t prepared for, the threat of failure is much higher than it would have been if they just had a clear vision of what they were doing. Before you get into the profitable business of small business franchises, make sure you have all the facts.
Small Business Myths That Can Stop A Franchise Before It Starts - To learn more about this author, visit Candice Clem's Website.
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Whether it’s Paul Bunyan and his gigantic blue ox or a get-rich-quick business opportunity, America loves a tall tale, we always have, and there are plenty of them to go around. Nowhere is this more true than in small business, where some say that success is guaranteed while other say that it’s nearly impossible. Though there are probably dozens of myths about small business to choose from, here are 5 that are notorious for either deterring people from even starting a franchise or getting them into deep trouble after they have purchased one.
1) "You can’t actually make money that way"
Wrong. In some ways, the idea that you can start your own business, perhaps work from home, and make good money working a small amount of hours may seem too good to be true, but in reality it is possible. For example, a naysayer may doubt it, but some Rotobrush franchisees have been able to bring in an annual income of $75,000 by using their duct-cleaning equipment to clean out the ductwork of the homes of only three clients per week, which equates to much less than fulltime work. It’s a bit of an extreme example, but its point remains: you can make money.
2) "I could never afford to own my own business"
If you have enough money to purchase a decent used car, then you have enough money to buy a franchise. Though taking advantage of a good business opportunity logically seems like it should come at a very high price, this is not always the case. In fact, some of the greatest business options come at some of the smallest prices, like Blind Brokers Network, a business that gives franchisees the inside track on the business of window covers for only $10,000 up front, and American Vending Systems gets its franchisees into an industry with easily the highest profit margin available, again for only $10,000.
3) "Success is guaranteed"
Not all myths paint the situation worse than it actually is. This particular franchising tall tale is a gross exaggeration of the fact that starting a franchise does drastically increase your odds of success because you’re using a tested and functional business model. Think of starting a small business as climbing a steep rock face and a franchise as your climbing harness. It’s true that wearing the harness will greatly increase your chances of making it to the top safely, but it’s not a guarantee.
4) "I won’t have to answer to anyone"
Though a person may not actually say this, often it’s really what the words "I get to be my own boss" would translate to if we were really honest with ourselves. Although when you start a franchise you will get to be your own boss, you will still have to abide by the rules of the franchise, and depending on the franchise you choose, these rules will vary in scope and number. As your own boss in a Griswold Special Care senior care franchise, or as the owner of your own Molly Maid, you do have the privilege of working without having someone constantly looking over your shoulder, but that does not mean that you get to make up all the rules yourself. On the contrary, most franchisors are fairly specific about how things in your business are run, because, first, their method is the one that has worked all this time, and second, their primary concern is keeping the name of their business in good shape. At the end of the day, these rules will ultimately work in your favor as well because you will be able to piggy back off of the successful strategy that got the franchise in question where they are today.
5) "It’ll be smooth sailing"
Once again, a franchise is a great thing because you receive an already functional business model and there is support available to you at every step along the way, but don’t think for a second that there won’t be hard work involved. No matter how well designed the Cruise Planners work at home business plan is, and regardless of how much help you can get from their training and support staff, if you expect your business to flourish, it is going to take hours and weeks and months of effort on your part to make your business succeed.
The problem with any of these myths is that they give business owners a false sense of what they are actually engaged in. Whether that notion leads them away from franchising entirely or presses them into a business that they aren’t prepared for, the threat of failure is much higher than it would have been if they just had a clear vision of what they were doing. Before you get into the profitable business of small business franchises, make sure you have all the facts.
Small Business Myths That Can Stop A Franchise Before It Starts - To learn more about this author, visit Candice Clem's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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John AlexanderJohn has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center. I look forward to hearing from you! - Visit John Alexander's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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