Dispelling the Myths About Owning a Franchise

Dispelling the Myths

About Owning a Franchise

If you have a dream of becoming an entrepreneur, you’re taking a step toward having more control over your future.

But have you considered a franchise?  There are a number of misconceptions about franchising. If you accept them at face value, there’s a good chance you’ll be robbing yourself of an opportunity that can not only be financially successful but personally satisfying. Before you rule anything out, it helps to know the facts. 

Here are the first 4 of 8 myths that will help you realistically evaluate franchising as an investment:

Myth 1: I’ll Only Become Successful By Finding The Right Business

Many of us equate “right” with what we’re already good at.  But that doesn’t mean you need to limit yourself.  Define your transferable skills from the corporate world – delegation, people management, marketing, whatever.  If you had them in one type of business, you can easily move them to another.

Myth 2: I Can only Be Successful Doing Something I Love

Believe it or not, businesses based on an owner’s background have the highest failure rate.  Your franchise business is a vehicle to the lifestyle you’re seeking.  

If you limit your choices to what you’re familiar with or good at, you’re placing yourself at a major disadvantage, because you’re ignoring a huge number of possibilities that are outside your realm of past business experience

Myth 3: I’ll Instantly Know The Right Opportunity When I See It

Many people want to fall in love with their business at first sight. That’s an emotional decision, not a career choice. You have to take the time to learn about the details and nuances of the opportunity to understand its potential. You simply can’t do that when you make a determination based on just what you feel today.

Myth 4: I Can’t Be In A Business I Know Nothing About

Of course you can. It’s instinctively natural to want to remain in our comfort zone and stick to areas we have experience in. But as a franchise owner, your business is running and growing your business no matter what it is. Remember, you have transferable skills. That’s your strength. You can hire people who know the details. Your road to success is buying into and learning the system, which is already a positive working model, then using your talents to make it grow.

Andy Ainsworth

408 520 4101

aainsworth@esourcecoach.com
www.esourcecoach.com/aainsworth