Every business owner knows that starting a franchise is terrifying. Even if you have the most successful business model in the world, there’s no guarantee that opening up a few extra locations will actually mean more money in the bank. However, tons of business owners decide to franchise each year despite their fears of failure. If you’re thinking about purchasing a franchise, whether it’s a small chain of restaurants or the top rated cleaning franchise in Australia, the best way to get over your fear of franchising is to jump right in. But before that, here are a few things to think about to make the leap feel a bit less scary.
You’re Not Alone
It might feel like you’re taking a huge leap in starting a franchise, and you’re not wrong in feeling that way. However, not only have tons of other people taken that leap before you and succeeded (as roughly 80% of franchisors do,) but you’re surrounded by people who are there to support you during the process. Don’t make the mistake of thinking that you’re alone in this process. The key to starting a successful franchise is creating and using a support system that will allow you lean on mentors, co-workers, and management to help you create a great brand. Assuming that you’re all alone with everything to lose will put you in an isolated, stressful place before you even begin. Remember that you have an entire team on call to help you get through the first few stressful years.
There are No Guarantees
Instead of thinking of this as a problem, try seeing it as a positive aspect of building a franchise. If you’re an overly-cautious person, you’re probably imagining that taking this step means instant, inevitable failure. But failure isn’t a guarantee, and while many aspects of creating a successful franchise will be out of your control, there’s a lot you can do to make the odds turn in your favor.
Before you do anything else, create a game plan that maps out what you’ll need to do in the next month, six months, and year to get your franchise off the ground. If you take the time to plan out everything you need to make your franchise happen, you’ll have concrete evidence in front of you that it can be done. What you won’t know is the outcome. However, if you’ve put everything down in black and white, you’ll be a bit closer to feeling like this is something you can do with the resources you have. It won’t feel so impossible or terrifying anymore. It will feel like something you’ve done before and can easily do again. Even though you’ll still feel nervous about taking on this huge responsibility, it won’t feel so far off and impossible anymore.
Take the Leap
Most importantly of all, don’t overthink it. You can talk yourself out of anything if you spend too long adding up the pros and cons. After you’ve put everything down on paper, make the decision to commit and don’t look back.