Your Values, Your Franchise
You have decided that now is the time to be your own boss and you want to be in business for yourself but NOT by yourself, by buying a franchise. This is a BIG decision. Deciding which franchise to become part of is just as big – choosing a franchise is like choosing a family.
There are many factors to take into account when buying a Franchise. To mention a few – you need to have the finances to invest and sustain yourself during start-up, the business model needs to satisfy your lifestyle and financial goals, you need to be passionate about what the franchise does, you need to have the appropriate skills, experience and personality traits and of course you need to be a good fit with the company culture and value system.
Yes, you need to be a good fit with the company culture and values. It is important to understand that you, as the Franchisee, must fit in with the culture of the Franchise organization. You are not going to change it. While you are an Entrepreneur you are still bound by the rules and culture of the franchise company. If you are thinking that you will change the culture once you have bought your franchise, then STOP. Don’t do it – it’s not going to end well.
So take time to reflect on what is important to you in your personal life and in business. What values would you build your ideal business on? As you begin researching franchise opportunities, keep in mind your list of values and compare yours to theirs. If a franchise does not share your values, move on until you find one that does. No matter how good you are and how well the franchisor trains you and how good the franchisor support systems are, if you do not share a core set of values it is NOT going to be a long and successful relationship.
At FranAlign, as your franchise consultant and coach, we focus on matching you with franchise businesses that align with your financial means, your lifestyle and financial goals and your value system. We take the time to get to know you and use a systematic method to help determine good fit options for you. However, PLEASE do not rush in. It is critical that once we refer you to the Franchisor, you take the time to get to know the team, including their culture and value system, and that they get to know you. It is equally important that you validate your findings through interviews with fellow franchisees. This is fortunately already a common part of the process of purchasing a franchise and we will support and guide you through it.
You owe it to yourself and your loved ones to make sure that you are going to be happy and successful in your franchise.
