One of the greatest advantages to exploring a franchise business is this validation process. Not only will it be the biggest indicator of whether the culture of the business is a good fit for you, but you’ll learn your true potential with the business by speaking with the real-world franchisees who have already said “yes.”
These franchisees once stood right where you are. They have the answers to the real questions you need answered before saying yes yourself. While the Federal Trade Commission (FTC), which regulates franchising, says that a franchisor is not allowed to steer your validation if you want this process to work to your benefit, I’m here as one of the top Franchise Consultants, to tell you that if you want to set yourself up for success, (and whether you work with me or not), there is a very specific way that you should approach your validation.
Consider this: if you pull three names from the back of the FDD, there is a possibility that the first two people will tell you things that you didn’t expect to hear, and may even disappoint you. And statistically, if that were to happen, it’s VERY unlikely that you’re going to pick up the phone to make that third phone call. Why? Because other people’s real-world stories become real. These testimonials become very emotional, and they impact your thoughts about the business. Exploring a franchise is ideally a purely logical experience, but it becomes emotional because you’re hearing the real-world stories.
These franchisees are not trying to sell you anything and will share their true experiences. Do you think talking to people who are NOT enjoying their experience is going to HELP your process? Of course not! Steering your validation means reaching out to the WINNERS in the group first. The people who have what you want: the top-performing franchise owners. What are they doing? How do they think about their business? Perhaps most importantly, would they do it again? What do they wake up and do every day? What are the key skills necessary to be successful in this business?
As one of America’s top Franchise Consultants, I’m constantly correcting the thought process of my candidates. Do not focus on money alone. Other franchisee’s finances should not be important to you because they have little bearing on what you are going to produce. What DOES have a bearing is if these people are happy. Do they feel well-supported? Do they feel well-trained? Are they inspired by the vision of this company? Knowing what they know now—would they invest in this franchise again? You need to validate the culture. You need to validate the leadership. You need to validate the experience.
When you invest in a franchise, ultimately, what you’re buying is a PARTNERSHIP. You’re buying into a culture of people and a vision. You’re not buying the franchise for where it came from; you’re buying the franchise for where it’s going. Do you want to be a part of that process in taking this brand from here to there?
When I’m validating a franchise, I’m always trying to figure out the difference between good and great. What are the people in the average pack doing or not doing compared to the top-performers, or what are the top-performers doing that the average-performers are not doing? Comparing the top-performing perspective to that of the average-performing perspective will help us understand what the top-performing people are more focused on and are doing more consistently producing a better result than the average-performing group just don’t know or are not consistently focused on? On the contrary, talking to people who haven’t figured it out will only hurt your process.
For eight years, I was an average-performing Franchise Consultant, and then I made a shift and very quickly became WAY above average. I’ve been in both groups! But now, as a top-performer in my business, I can see clearly what DRIVES top performance. Top performers know with clarity what they’re doing every day that’s driving the greatest result in their business. But here’s the other thing that has become clear to me: I now know why people will NOT be successful in my business.
As you’re validating, it’s so important that you remember that no matter how great the validation stories are, THOSE results may not be YOUR results. In business ownership, we get what we focus on. It doesn’t matter what anybody else is doing or hasn’t done with an opportunity; everything is possible for YOU!
If you would like a free consultation to learn more about validation and saying YES to the right business for you, please contact me directly using the form below. I update my YouTube channel with multiple videos each week, so if you found value in this video, please like, subscribe, and hit the notification bell using the button below!