Mission Can Turn a Franchise into a Passion Business
For many entrepreneurs, buying into a franchise is great way to move into business ownership without having to start from scratch.
But, before the balance sheets, financing and discovery process starts in earnest, potential franchisees must consider if the company mission is one that speaks to them personally because it’s a mission the franchisee will need to advocate for as long as they have the franchise.
What to Consider When Choosing a Franchise
As a potential franchise owner, you can begin narrowing down the field based on the market and business model that interests you, but you should also consider how you will fit into the company’s culture.
In addition to living the mission on a local level, a potential franchisee needs to be prepared to ask the franchisor and other franchise owners targeted questions that can determine whether the pairing is a good fit for both parties.
Some questions to ask before choosing a franchise:
- Why does the franchise exist? The franchisor should be able to communicate why there is a need for the company and the market it serves.
- Does the franchisor have a strong support system to support its franchisees? A franchisor needs to have regular communication with its franchisees from the pre-launch stage, through post-launch and from there on out. In-person meetings, franchisee conferences, video calls and online continuing education portals are important to keep franchisees on track and believing in the mission.
- What is considered a successful business? Some franchisors are simply about meeting the numbers, which is certainly important in business, but there are other factors that can determine success, such as happy clients and satisfied employees. You need to determine if the franchise’s business model is one you will happily follow.
- How does the franchise’s technology help differentiate them? While technology isn’t the only answer in improving client satisfaction or profitability, its existence can help make growing a business easier for franchisees if it works correctly.
If you find value in their answers and see that the company culture, business model and mission statement speak to you, then you have found a franchise that you can remain passionate about.
Aligning With a Franchise’s Mission
Potential franchise owners should expect – and receive – a list of mutual expectations. After all, the franchisor/franchisee relationship is a two-way street.
The franchisor will want to know why you are choosing their industry and why you believe in their brands.
Be prepared to answer those questions by showing how your values match with the company’s mission. Let the franchisor know your goals and measures of success, and how these match with their existing business model.
Realize that thriving franchises already have a system that works, or they wouldn’t be in the position to offer you a successful franchise option. There may be ten ways to do something, but the franchisor knows one way works best for their company and expects you to follow that model. If you are not ready to work within their system, you may not really believe in the franchise’s mission.
The Mission Supersedes Challenges
While many companies have seen substantial changes and shifts in the way business is done over the past two years with the challenges of COVID-19 and supply chain issues, the fact is that there are always business challenges that are not always as public as those two newsmakers.
But no matter what causes any upheaval, the mission should be strong enough to withstand the test. In fact, the mission should be the reason you can endure change.
If you remain mission-driven, it’s easier to stay on point even as you find alternative ways to meet the mission’s goals. A sign of resilient leadership embraces the long view and knows how to triage challenges to put the mission first.
Keeping the Passion Alive
As the owner of Caring Senior Service for 30 years, I know, firsthand, what it is to start a business with that first client, to develop the mission statement from the promises made to that first client and to build a company from that first client using that mission.
I also know that, as a business grows, you begin to delegate tasks to other employees and then those employees become leaders and begin delegating to even more employees. It may seem as you grow that you get further away from the mission, but you can’t let that happen. You have to look upon growth as a way to multiply your ability to help more people.
As the franchise’s mission spokesperson on the local level, your role is to not only take a step back and remember how the mission spoke to you as a new franchisee, but also to instill into your employees why these goals should drive every decision that is made.
For example, as a nonmedical home care company, our mission is to ensure our clients are happy and healthy enough to stay at home and that’s been the mission I remain passionate about even three decades later. Just remember your impact on the local market and never forget that your goal should be the positive influence your franchise has on its customer.