There are several ways to go about business ownership,, but one of the more lucrative and rewarding opportunities is franchising.
Franchising allows you to buy into a proven model of success when you start your business instead of coming up with an idea from scratch. You’re able to buy into an already established brand name, a business model that has been tweaked for success, and join a network of specialists at the corporate level and franchisees who have found success – both can offer ideas and best practices to guide you through your journey.
However, there is a good deal of research and planning one must complete before investing their money. You want to ensure the brand you choose to invest with fits with your personal beliefs and fits with how you want to operate as a business owner.
Here are the Top 5 things to consider before taking the leap into franchising.
Is this a sustainable business?
If we’ve learned anything about the world lately, it’s that change is inevitable. This is something to consider when investing – you want to make sure the business you want to invest in will be able to keep up with market changes, trends, and technological advancements.
Do you have the right people in place?
You might have the necessary mindset to run a business, but do your business partners have that same mentality? Surrounding yourself with likeminded people is important as you build a team in your business, and it’s important you hire people who are willing to innovate and work toward your growth mindset.
Identifying trends and opportunities
Taking the time to assess trends involved with the business you’re interested in is critical. Speak with people who have found success in the same industry, or better yet, speak with established franchisees with the brand you’re interested in. Hear what they have to say so you can find out if the business is sustainable and successful.
Find a brand that fits you
Finding the right “fit” is crucial in franchising. If it doesn’t matchup with who you are personally, it’s not going to work. Make sure to do your research on who and what the company is all about. Check out their values and mission statement before investing in the business. It’s important your values match closely with those of the brand you’re interested in.
Having a passion for the job
Franchise ownership is unique – you need to feel excitement and motivation as you go to work each day and find new ways to grow your business. Franchising requires a big time and energy commitment, so if this isn’t something that sounds appealing to you, franchising might not be the right move.
How TWO MEN AND A TRUCK works for you
At TWO MEN AND A TRUCK, we’ve helped people achieve their dream of franchising for more than 35 years, and we’re always looking to add innovative and motivated people to our franchisee team.
With a distinguished set of core values, an expansive set of service options, a commitment to giving back, and a brand name that resonates in four different countries – we feel we’ve built a franchising model that works for everyone.
To learn more about how you can get started with your TWO MEN AND A TRUCK franchising journey today, click here.
TWO MEN AND A TRUCK® is the first and largest franchised moving company in the United States. Let us help move you forward! For more helpful tips and information on moving services subscribe to our blog and like us on Facebook.