Starting your own business is scary, and often success come from much research, as well as trial and error. Fortunately, when purchasing a franchise, you have the benefit of a franchisor that can and will likely help you avoid many of these mistakes that start-up businesses make. In a sense, the franchisor has served as your “trial and error” test subject, but also your business coach and partner. The franchisor has already made the beginning mistakes, and improved their business model based on their proven success and proven failures. Along with strong franchisor support, there are also other keys to owning a successful franchise.
1. A strong business model. A strong business model is the foundation for a successful business. Just like a home, without a sound and stable foundation, the rest of the building will not be strong. How you run your franchise will directly correlate to its success. At The Brothers that just do Gutters, our business model is SBA approved, and was perfected for many years by owners, Ken and Ryan Parsons prior to becoming a franchise model.
2. Market Saturation. The saturation of your market in general, and within your potential branch location, is a large factor in the success your franchise will see. If the franchise you are thinking of opening is already present all over, and specifically has a few locations already nearby, this won’t allow for a lot of growth. This does not mean the branch will not be successful, but with large market penetration, the room from individual franchise growth just isn’t as great.
3. Following the system. The system was put into place for a few reasons. It has already been tried and tested, and these systems are what works. It’s likely that the reason you chose to go with a franchise, instead of opening a start-up, is in large part to the idea of a system already being established. Also, consistency is what preserves a brand. If you go into a McDonald’s in NY, and then travel out of state and visit a McDonald’s while traveling, you expect the product to be identical to that of your NY branch because, well, it is a franchise. At the end of the day, if you as a franchisee are truly committed to following the system, you are creating greater potential for your own success, as well as taking some of the hard work out of your own hands.
4. Hiring great recruits, and appreciating them. Your business can only be as successful as the people you have working for you. Those employees that are actually doing the work can have an extremely large impact on your business’s success, as well as its reputation. Even with a great business plan, great system, and a perfect market, with a less than satisfactory team, your business cannot succeed. At the end of the day, the product or service is what the client is experiencing. Recruiting great is of course key to your business and its success, but being able to keep this help is even more important. People most commonly leave jobs because of financial reasons, underappreciation, or because another job has what their current job is lacking. If your workers do not feel appreciated, they will likely not be completely satisfied working for you. It is also a fact that people work harder for causes and people they believe in, and like. Employee appreciation is a large part of The Brothers that just do Gutters business model, specifically when it comes to our installers. “The importance that they place on the training and support of the guys doing the work in the field really impressed me, because if they were focusing that much attention on the people who will be working for me in my franchise, that just spoke to me as to how much more they are going to do for me as the franchise owner,” said Brothers Gutters Texas Franchisee, Randy Garrett.
5. Get involved with the local community. Being an active part of the local community may take larger priority when your business is already up and running rather than initially, but believe it or not, it is a huge key to your franchise’s success. Local clients like to shop in, and use companies that they have heard of, or are local, and that support them too. If you are sponsoring local little league teams, hosting community day events, giving to local charities, etc. the local community is more likely to want to use your services. On top of supporting a think local attitude, and showing that you care about the people you service, it helps get your name out there and for your company to become a “house hold name.”
6. Continuous training. Training within your franchise should never end, and needs to be continuous. As mentioned above, skilled and knowledgeable help is a huge key to your success. These people working for you cannot be knowledgeable and able to preserve the brand traits and standards without being trained on them, always. Training someone once is truly never enough. Continued reminders, refreshers, and training tools should be readily available to all employees. The franchisor should also always be available to the franchisee. The franchisee should take advantage of franchisor support and training as often as possible. Dedicate the time to your employees, and they will dedicate their time and efforts to you and your business. Education, training, and support is key to success.
The most important and number one key to success in a franchise is a sound, and strong business plan. Once you have that, follow the systems, always be recruiting and training, and be active and present in your community and your business will gain traction. Be sure to set high goals for your business and set yourself up for large growth potential. If you are ready to open your own franchise, The Brothers that just do Gutters has many opportunities available. CONTACT US for more information!