If you’re exploring franchising, do yourself a favor, and KEEP AN OPEN MIND!
Candidates contact me to explore franchising. I get to know them and then present options that I believe match the characteristics in a business they are looking for.
Candidates get on one call with franchisors in industries they know nothing about, and after one call, they are experts and are telling me all the reasons why that business can’t or won’t work. REALLY? You can be an expert after one high level conversation?
If you’re exploring franchising, do yourself a favor, and KEEP AN OPEN MIND! You can’t learn everything you need to know about a business opportunity to decide if it is viable in one phone call. Your assumptions are just that…assumptions.
Today, a candidate booked discovery day with a company he had no interest in when I first presented it. I challenged his thinking and encouraged him to stay open and learn about the business from an investor’s perspective rather than thinking about it like a consumer. A few phone calls and weeks later, he is 80% sure this is what he wants to do.
That’s the power of my process and keeping an open mind. If you try to be an expert too quickly, you may miss some of the best options out there.