Being the Owner of a Franchise for the FIrst Time

Joel Libava

Unless you embrace being uncomfortable, starting something new can be well…uncomfortable.

Being the owner of a franchise for the first time is uncomfortable. I don’t see how it couldn’t be.

Ya dig?

Part of what you’re paying for when you purchase a franchise is training.

Part of your training may be online. Most of will be in person.

I’ve seen some franchisors do pre-training online…I really like that. It’s good to involve new franchisees with a peek inside the organization via the internet before they arrive for a week or more of formal classroom training. They’re not as “green” when they arrive.

But, it’s the formal, face-to-face training that will end up having the biggest impact on a franchise owner’s everyday business activity. So, when you’re doing your franchise research, make sure you find out about the training program. Ask the franchisees that you contact how good it was for them.

There’s going to be a lot of excitement leading up to your franchise’s Grand Opening. When the time comes to open your business…to open for business, actually, you’ll be feeling an interesting combination of emotions. You’ll be:

  • Excited
  • Anxious
  • Apprehensive
  • Nervous
  • Happy
  • (Please feel free to add a few of your own.)

The point is this: opening a business for the 1st time is an experience that you’ll not likely forget. It’s actually a great feeling; you just need to work through all of the other feelings that you’ll be experiencing, first.

Franchisors know what you’ll be feeling…what you’ll be going through those first days as an Owner. Make sure that you remember that when you open your new franchise business.

Chip Baranowski, Vice-President of Franchise Development, Honest-1 Auto Care has this recommendation:

“Once you’re operational, don’t be afraid to call upon the franchisor in time of struggles. The value of buying into a franchise system is that it’s a partnership. As a valued partner, they can offer feedback and insights that can help you turn things around.”

Joel Libava, The Franchise King® is the author of Become a Franchise Owner! The Start-Up Guide to Lowering Risk, Making Money, and Owning What You Do. Copyright 2013, author retains ownership. All Rights Reserved.

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