You're In Business For Yourself - Not By Yourself
This is the foundational promise of franchising, and it’s true… to an extent.
Yes, the franchisor provides you with guidance, a business model, and brand recognition. But the day-to-day operations? The tough decisions? The problem-solving? That’s all you.
Franchising is like a marriage—you’re committing to a partnership that works best when both sides pull their weight. You’ll have support, but you’re the one running the show.
- Understand the support your franchisor offers. Is it robust, or just surface-level?
- Ask questions about training, marketing, and operational assistance before signing.
- Prepare yourself mentally to be the driving force behind your success.
The Numbers Don't Lie, But They Don't Tell The Whole Story
One of the biggest mistakes franchisees make is underestimating the financial commitment.
Sure, you’ve got the franchise fee, but what about:
- Build-out costs?
- Marketing budgets?
- Ongoing royalties?
- Emergency funds for the unexpected?
A lot of franchisees think the financial heavy lifting is done once they’ve paid the franchise fee, but that’s just the beginning. Cash flow management is critical—always plan for more than you expect to spend.
Bottom line? Overestimate your expenses and underestimate your revenue (at least in the early months). It’s better to be pleasantly surprised than scrambling to keep the lights on.
Not All Franchises Are Created Equal
It’s tempting to think that all franchise opportunities offer the same level of support, resources, and market potential. But that’s simply not true.
Before committing:
- Do your due diligence on the franchisor’s track record.
- Talk to existing franchisees—ask them about their challenges, the real level of support, and what they wish they knew.
- Make sure the franchise aligns with your skills, goals, and lifestyle.
The best franchise isn’t necessarily the most popular one. It’s the one that fits you—your strengths, your market, and your vision for success.
People Will Make Or Break Your Business
Your staff and customers are the lifeblood of your franchise. Yet, many first-time franchisees overlook just how important people skills are.
From hiring the right team to delivering excellent customer service, your ability to manage relationships directly impacts your bottom line.
Remember, your staff isn’t just an expense—they’re an investment. The better you train and empower them, the better your business will perform.
And don’t forget about building a strong local presence in your community. Franchisees who actively connect with their customers—through events, partnerships, and authentic relationships—tend to see stronger results.
Franchising Reduces Risk, But Hard Work Drives Success
Here’s the hard truth: franchising reduces risk, but it doesn’t eliminate it.
Even with a proven system, there are no shortcuts to success. You’ll need:
- A willingness to work long hours (especially in the early days).
- Resilience to navigate challenges and setbacks.
- A growth mindset to continuously learn and improve.
Owning a franchise is one of the most rewarding things you can do—but it’s not for the faint of heart. Be prepared to give it everything you’ve got, because that’s what it takes.
Franchising can be a game-changer, but only if you go in with your eyes wide open. Take the time to educate yourself, ask the hard questions, and plan for both the expected and the unexpected.
Because the reality is this: success isn’t just handed to you—it’s earned.
Ready to Explore Franchising? Let's Connect!
Mack and Sharon Strange are on a mission as Franchise Consultants to help others go from “Start” to “Success” when it comes to franchise ownership.
If you’re curious about exploring franchising as a career pivot, investment vehicle or lucrative side hustle, let’s talk!
Frequently asked questions (FAQs)
Q: How do I book a call?
A: You can book a free, no obligation call with Mack here and/or a free call with Sharon here.
Q: How much do your services cost?
A: As Franchise Consultants, there’s no fee for our services. We’re compensated by franchisors only if and when you decide to move forward with (and are approved for) franchise ownership.
Q: What do you do?
A: Our role is to serve as a trusted guide and educational resource.
Q: Where can I learn more?
A: You can learn more about our story and how YOU can follow in our footsteps via the Franchise Together Podcast.
We look forward to connecting with you soon!
