Tips To Predict Your Success in a Franchise Business

Kim Daly Coach's Corner, Vlog

How do you build a successful franchise? Do YOU have what it takes to be a successful business owner? Here are The Daly Coach’s top tips to predict franchise success!

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Many times, candidates come to me asking me to predict their franchising future. Do they have what it takes to become a successful business owner? Will they go on to build a successful franchise? Will they be able to live the life of their dreams through this business investment? I certainly wish I had that power. But I have learned in 19 years as a franchise consultant that I cannot predict who franchising is going to work for, who is going to go on to become a successful franchise owner—but I do have some tips that can help determine if you’ll be successful.

It is you who is going to predict your own future. And in this video, I want to share with you some practical tips and advice for how you can best predict the outcome if you decide to become a franchise owner.

Tip Number One:

The number one thing that I want to say to you in order to predict your financial future is you’ve got to have clear, specific goals. These goals have to be motivated by a powerful WHY. Owning a business may have times where it’s harder than you thought it was going to be. You have to have a driving motivator behind you that gets you out of bed every day, that keeps you going, even when times are tough. When it’s all going easy, everybody wants to own it, and everybody’s happy to go to work. But when it’s hard, we start pulling away. We start feeling paralyzed. We stop doing critical things that eventually may lead us to our own demise. In order for that not to happen, you really need clear, specific goals motivated by a really big WHY.

Tip Number Two:

Partner with the right franchisor To predict your franchising success, partner yourself with the right franchisor. The right franchisor for you is the one that you believe in. It’s the one that inspires you. It’s the one who, through proper due diligence, you’ve identified has a proven toolbox that helps you feel secure that with this marketing, training, and technology, you can go out and build that business.

Other predictors of success in a franchise the other predictors of your success will be how you break down your big annual goal into clearly defined daily sales goals. I have many videos on my channel about The Daly Plan, where I teach people how to break their annual revenue goals down into daily goals, clearly defined, specific goals. These goals are what drive the business forward.

If you have big, clear goals motivated by a strong WHY, you have a strong franchisor partner, you break down your revenue goal into daily goals that you can then set out to achieve, then the rest is up to execution, focus, and consistency. This sounds like the definition of success for anything in life, right?

If I can play a role in predicting the success of YOUR franchise business, I would love to be your Daly Coach! Please contact me now using the form below!

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