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Questions to Ask Other Franchisees | Franchise Strategy Partners

Questions to Ask Other Franchisees | Franchise Strategy Partners

Choosing a franchise is an exciting time for an aspiring franchisee. There is so much to learn and take away from this new opportunity that has been presented to you. But before you begin your franchising journey, it can be helpful to speak with franchisees of the franchise you are interested in to get a better idea of how it operates.

This blog will offer up the questions you should ask your fellow franchisees about the franchisor, costs and the daily operation of the franchise.

Questions About the Franchisor

There is no relationship in franchising more valuable than the one between a franchisee and a franchisor. When speaking to your fellow franchisees, you should ask questions that focus on the dynamic between the two. It can be helpful to know how involved the franchisor is in the decision-making process and whether they offer training and support to their franchisees.

It would be best if you also asked about the franchisor’s background. Try to get an idea of their level of experience. These questions can help you understand how the franchisor works and what you should expect if you join that franchise system.

Questions About Costs

You will want to know everything you can about the costs and fees for the franchise you are interested in. When speaking with fellow franchisees, it may be helpful to ask questions about the initial investment for the franchise and how fees are structured.

You should also ask about any hidden fees or unexpected costs that they may have encountered. And while it may be an uncomfortable conversation, you should ask about the return on investment. This is information that can be helpful to you.

Questions About the Day-to-Day Operation

To get a sense of what you will be doing from day to day, you should ask questions about the daily operation of your franchise. You can ask questions about customer relations, managing staff and any common challenges they face. It may be helpful to ask about their daily schedule and how many hours they work.

Don’t hesitate to ask what they like and dislike about owning a franchise. Finding out all you can about the franchise will help you to be more prepared!

If you are ready to start your career as a franchisee, get in touch today to get started with a free consultation.

3 Tips for First-Time Leaders | Franchise Strategy Partners

3 Tips for First-Time Leaders
3 Tips for First-Time Leaders

Taking on a leadership role is a big deal. Whether you’ve worked up to the position from an entry-level job or become the owner of a new franchise, you’ve likely put in years of hard work to get where you are now.

But with a new title comes new responsibilities.

Luckily, there are ways you can prepare yourself for your new leadership position. Below are three tips to help you adjust to life as a first-time leader.

Focus on Communication

When it comes to being in a leadership role, your ability to communicate with your employees is the most important aspect of your job. You want to create an environment where your employees feel free to ask for help, give feedback or suggest solutions to a problem.

As the leader, you will want to learn how to communicate in a way that motivates your employees and reassures your employees that you are in firm control. The power of communication in your workplace can not be overstated.

Develop Time Management Skills

There never seems to be enough time in the day. This becomes even more apparent when you are in a leadership role. But how do you address this problem as a new leader?

One option is to create a plan to help tackle the tasks that you need to get done. As a leader, you should feel confident delegating different tasks to your employees. This will not only help you, but it will show your employees that you trust them.

Learning to be decisive is also part of developing time management skills. Once you’ve made a decision on something, stick with it and see it out. Flipping back and forth will only cause more problems for you and your employees.

Don’t Fear Making Mistakes

Everyone expects those in leadership positions to be perfect. But leaders are still humans, which means that they are more than capable of making mistakes. But these mistakes do not have to be a moment for you to beat yourself up.

Not only can you learn from them and do better next time, but they can be an opportunity to show your employees what accountability looks like. If they see you owning your mistakes and working to improve, there is a good chance they will do the same thing.

If you’re ready to start your franchising journey, contact me today!

Franchise Business Owners Seek Work-Life Balance

Franchise Business Owners Seek Work-Life Balance

Achieving a better work-life balance is often cited as one of the main drivers behind a person’s decision to invest in the franchise business ownership model. Just what is meant by work-life balance though? Is it working seventy percent of the time while having thirty percent to do as you wish with family, leisure, travel, physical fitness, etc.? Or is it the flip of that formula, or a different balance altogether? (more…)