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Posted on 17/03/2020 in Franchising by HospitalityTrader

What is the right Hospitality Franchise for me?


What is the right Hospitality Franchise for me?

What is the right Franchise for me? This is the number one question I get asked by anyone looking for their first venture. The answer is (like many other answers) very simple;

  1. Does the franchise fit your lifestyle? AND
  2. Can you see yourself being successful in this new business?

If the answer is "yes" to both, then go for it! Don't hold back because the longer you wait the more negatively you will feel. Why you may ask, well that's how the average person's brain is wired. 


Risk versus Reward

You see it's far easier to talk yourself out of a risk, than taking the initial leap of faith. True entrepreneurs take the leap with vigour. They back themselves and know failure is not an option. They believe in hard work and accept not everything will go to plan.

Too many new franchisees buy a franchise thinking it is the silver bullet, with the roads ahead paved with gold. The reality is the gold-plated road is usually a dusty gravel track with many potholes and even more traps hidden in plain sight.


Follow the System

Don't get me wrong I love franchising, I love the support, networking and life friends you make along the way. All I am saying is there is hard work ahead and any successful franchisee will tell you, work on the business and follow the system and more times than not success will follow. This was something as a young, energetic franchisee I didn't do. I thought get in and reinvent the wheel is the way I will succeed. WRONG! If you plan to do this well save yourself the franchise fee, avoid the royalties and start-up your own business.

Think about it, there is a reason banks are more comfortable lending to a franchise. Its the proven systems and the franchisor support which gives you the edge from the competition.Once I realised the errors of my way and really committed to the franchise business I had bought, miraculously success knocked on my door, in fact it kicked down my door. 


Do Your Homework

Franchisees have many tools at their disposal. From industry best practices, bench-marking and of course you fellow franchisees just to name a few. Alas they are tools too often than not are locked up in a toolbox. My advice is make sure when doing your research speak to existing franchisees and find out what is the support structures and what are the tools available to help making you a success. 


Speak to the Franchise Owners

Great franchisors are never worried about a prospect speaking to their franchise network, in fact they encourage it!. So to answer the initial question, What is the right Franchise for me? Simple! 1. Does the franchise fit your lifestyle? 2. Can you see yourself being successful in this new business? If the answer is "yes" then go for it! Don't hold back!


Happy Hunting

Cliff White - RVP, United Franchise Group


Page Updated: 17 March 2020


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