Becoming a business owner is a big investment, and prior to making the leap, self-evaluation is key! Asking yourself a few important questions could help you to decide whether you are best fit for entrepreneurial endeavors, becoming a franchisee, or if business ownership is not for you at all.
Here are some important questions to ask yourself when contemplating business ownership to help determine whether independent ownership or franchising is best for you:
1. Q: Do you find yourself always having to be right? Do you believe that you will be able to follow the direction and systems offered by the franchisor? Or do you think you’ll prefer to do it your own way?
A: If your answer to this question leans more towards preferring to do things your own way, and struggling to follow directions and systems, franchising may not be the most suited option for your personality. However, if you are a systematic person and believe that having a franchisor for support and guidance is desirable, then franchising may be for you!
2. Q: Do your own tastes and preferences weigh on your business decisions? If your tastes differ from that of the franchise system, are you ok with following the system that’s based on proven consumer interests rather than your own? For example, if you join a fast food chain franchise, and their recipe calls for a burger that is medium, but you prefer medium rare, will you be ok with serving your burgers by the franchise system’s standards, even if it’s not your preference?
A: This question is along the same lines as question one, and is referring whether you prefer to do things your own way or not. In some franchise systems, there is more leniency when it comes to franchisee business practices.
At The Brothers that just do Gutters, though we have a franchise model and business system we expect franchisees to follow, we encourage them to get creative and put their own ideas into action as well. If they are successful, we may even implement them into our systems and processes! If you believe that you tend to prefer your own way, but are flexible enough to work within systems as well, a more lenient franchise like The Brothers that just do Gutters may be a good compromise for you.
3. Q: Do you consider yourself somewhat of an advertising genius? Are you going to want to change approved advertising or branding items that the franchisor has specific standards for?
A: When it comes to branding and advertising in a franchise system, one of the main benefits of purchasing a franchise is an already established brand. That being said, an established brand comes with some guidelines including things like proper use of logo, color and uniform requirements, truck wraps, marketing material, etc. While there is room for creation of new campaigns and local marketing on your own, there are still branding guidelines to be followed. If you cannot imagine yourself following guidelines or looking and running like other businesses under the same system, franchising will likely not be a satisfying investment for you.
4. Q: Are you a team player?
A: If you are not big on team activities, or find you work best alone, becoming a franchisee may be challenging for you. As a franchisee, you will be continually working with team members, the franchisors, and other franchisees within the system. If you work well in team settings and having a team to converse with, work with, and get advice from is desirable to you, franchising would be a great fit for you!
5. Q: Are your family and/or friends supportive of you purchasing a franchise?
A: If you have decided that franchising may be a good fit for you, it is important to have a network of people who support your choice to make this decision. As we mentioned in the beginning, business ownership is a big commitment, and when making a big commitment, support is key in getting you though. Does your family understand that franchising will take a lot of your free time initially, but will eventually allow you a flexible and lenient lifestyle? Are they willing to wait it out and help support your hard work and dedication to the business?
In franchising, you truly get what you put in. The harder you work initially, the more flexible your lifestyle can be as your business grows. At The Brothers that just do Gutters, our goal for all of our franchisees is to help support their growth to get them to a point where our franchisors are now; where they can replace themselves within their business with systems and people. By doing this they can truly enjoy the luxuries and benefits of being a business owner.
After reviewing these questions and conducting a brief self-evaluation, do you feel like your personality is fit for franchising? If your answer is yes, contact Ken today to find out about the available Brothers Gutters franchise opportunities!