What do CAT scans and purchasing a franchise have in common? Fear.
As I write this, I am awaiting results from a CAT scan for my right lung. I know in my brain that I don’t have Lung cancer (never smoked in my life) and yet, that little small voice keeps saying, “What if?”
I started to think about how sometimes my clients are fearful, but perhaps afraid to admit it because they perceive this as a weakness. So, why are we fearful and how can we STOP being fearful?
For me, waiting on my CAT scan results, I need information. Once I have this information, I can make an INFORMED decision. My new clients are fearful because they don’t have the information they need to make an INFORMED decision. At Right Franchising, we work together to provide good solid information so our clients will make an informed decision—no shot in the dark!
So, how does one become informed when considering buying a franchise? First, know some basic facts about franchising:
Ray Kroc, the creator of McDonald’s® coined the phrase: “Franchising is certainly going into business for yourself, however, not on your own.” Trying something on your own generates extreme fear! Franchising is the world’s most successful system for building and growing a business. By its much defined processes, it helps eliminate fear.
If franchising is so successful, then why am I fearful? CAT scans are successful too; but until I have the results, I remain fearful. A good franchise consultant can provide the tools and expertise to find the right franchise that fits you, and then helps you investigate it thoroughly. You will learn 3 important things during the “Due Diligence” period:
- Does the franchise make money, and what is my take home pay?
- Does the franchise support its franchisees, and is that support ongoing for the life of the business?
- Are the franchisees happy with the franchise, and with their decision to join the franchise system?
In conclusion, how do we defeat fear? The truth is we don’t! Even with my results from my CAT scan, I will have to trust that my doctors know what they are doing. Even with a good solid due diligence, you will still be fearful when you purchase a franchise. It is still a leap of faith. The information you and I gather, about the franchises that fit you, helps make it a smaller leap with a very soft landing!
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