Top success tips from franchisees
How do you achieve success as a franchisee? Top performing franchisees have shared their tips on meeting financial and lifestyle goals and proved there's no getting away from it - hard work is going to get you over the line.
Whether you work in the fast food, mobile services, retail and business services sectors, franchisees agree that putting in the hours is going to make the difference between a flourishing business and a business just making ends meet.
The success stories of top franchisees were unveiled at the Sydney Franchising and Business Opportunities Expo at the weekend, with twice-daily seminars giving the audience a chance to hear from panels of stellar franchisees.
All the franchisees agreed that doing due diligence before purchasing the franchise is paramount; in fact Fred Pose at Oporto, who owned a franchise in the system for 10 years before joining the company support team, revealed he increased the research he undertook before he signed up for his second franchise which opens next year.
Specifically Pose doubled his efforts on researching the demographics and location of his new site.
In the panel discussions, hosted by Sarah Stowe, editor of Franchising magazine, franchisees from Boost Juice, Nanotek, Clark Rubber, First Class Accounts, ActionCoach, Oporto, VIP Home Services, Appliance Tagging Services, and Looksmart Alterations gave insights into their daily lives as franchisees, and highlighted the keys to success.
TOP 3 FRANCHISEE TIPS
- Hard work - even though you're buying a business from a franchise system that supplies branding, marketing and operations systems and support, the business is yours and you have to make it work. That means plenty of long hours to build the business and stepping in when there's no-else to do the job.
- Passion - whatever the franchise model you choose, being passionate about the business is absolutely essential. You'll be signing up for a term of typically three or five years, and if you don't love what you do it's going to be a hard road. Enjoying the business will not only bring it's own rewards but boost the bottom line.
- Customer service - customer service - customer service. There's no shortcut to this - going all out to keep your customers happy and coming back for more is the best way to build your business.