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You may have heard that fear of the unknown is one of the most common reasons people never start their dreams. This is very true of the business world. Countless people have wished they could grow their business or brand across the country or around the world, but never try.
In my own experience, many people have asked me what it really looks and feels like going through the franchising process – how does that affect the schedule and the business? How will employees and customers react?
That's why I'm looking forward to this four-part series "Franchising Your Business". I decided to get a bird's eye view of what it looks and feels like going through the franchising process to remove some of the stumbling blocks so that great business models can move forward and become the franchise success stories of tomorrow.
When it comes to whether a company can be a franchise, my standard answer is, "If it's legal, moral, ethical, and making money, it can most likely be a franchise." Of course there are other criteria, but some People think that their business is not good enough, or different enough, or that the "secret sauce" is missing to become a franchise system. The truth is, your company may have what it takes to become the next big brand.
It used to be that a company needed a huge budget for the franchise to keep up with the marketing budgets of other big brands. Media placements were far more expensive and limited in reach, so they had to be duplicated in each market. Television, radio, and newspapers were the main options and it was difficult to get into the industry for smaller concepts.
After digital marketing and other technologies come into play, newer and younger concepts can hit the market with a much smaller marketing budget and targeted campaigns for a better return on investment. Your company has just as much potential as any of the bigger brands today. They all had to start on the same road and get their first franchisee on board just like you are going to do.
In this series, I will focus on the four main phases of a standard franchising process:
The decision on the franchise
Build Your Franchise Opportunity
Onboarding your first franchisees (early adopters)
Support, scale and grow
Image Credit: The Franchise Hub
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We will be following one of my clients as he goes through these stages so that you can get the inside experience of someone who does this. We'll also have a corresponding podcast for each phase so you can hear from them too.
We introduce: Mike Hutzel, founder and CEO of EagleONE. Hutzel has built an amazing business over the years providing marketing, customer experience, and call center support to small, medium, and Fortune 500 customers and government agencies. He is currently franchising his business model so that he can coordinate with operators in other markets.
One of the best aspects of the franchise model is the fact that a great business model can grow in new markets. It puts “boots on the ground” to represent the brand like no other business model. And we start with the decision to franchise your business. When I asked Hutzel about this jump, he pointed out that their business was growing during the pandemic and they saw many recently unemployed people looking for their next career opportunity. The recession / pandemic resistant EagleONE model is a perfect solution. So it was decided to expand now.
One of the most important factors in choosing the EagleONE franchise company was to first fully evaluate both sides of the opportunity. It was very important for Hutzel and his team to create a win-win opportunity. They wanted to be sure that when people invested in an EagleONE franchise, they were providing the franchisees with everything they need to be successful.
I pointed out that starting a franchise is a whole new business. I asked him to tell us about the benefits of franchising, which impressed him and his team, and which led him to start a whole new franchise business. His team learned that they needed to look and reflect in the mirror and be educated about the role of each person in order to build even more camaraderie. These benefits have made them stronger as they prepare to train and support their franchisees.
Hutzel also noted that he included his family in his franchise decision. This is a critical step. Franchising a business is a huge commitment and everyone needs to be on board and aware of the impact the new business has on themselves, including the extra hard work and long-term benefits. This resulted in Hutzel making a perfectly balanced decision.
His golden advice to share with others regarding franchising was to make a commitment to win, no matter what. The work is challenging at times, but you made the decision to burn the bridges and win and never give up. When things get tough, rely on your family and team, gather the troops, and march on.
Related Topics: How to Scale Your Training Using Video and Learning Management Systems
Register now for the second part of the "Franchising Your Business" webinar series entitled "Building Your Franchise Organization" on April 5th. We'll examine the building process used to turn a business model into a franchise opportunity. And listen to the relevant podcast with Mike Hutzel.
You can also find out more about our Entrepreneur Franchise Advisors program or schedule your free franchising advice here.