A Unit of CADD Centre Training Services | 25 Years of Success in Pioneering Franchise
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Have you heard the saying — ‘People don’t hate or leave their jobs because of the work, they hate or leave it because of the people’? It’s probably true, but the fact is, blaming the boss, colleagues or even the economy isn’t going to change the circumstances.
You have to take a conscious the decision to step up, to make sure that all your hard work, skills and talent isn’t turning profits for someone else, that you do your work with motivation not an obligation—that you need to be your own BOSS!
Fight your doubts
The idea of being your own boss is attractive but what about the market reality and trends, business plans, capital, etc. and a number of other things that need to be built up from scratch. Where do you start from?
Don’t be afraid to step up even if the idea of starting your own business seems overwhelming. There is a sure way to successfully be an entrepreneur without the risk of setting up your maiden venture. Rishi Upadhyay left his banking career when his life goals simply weren’t matching with his job. At 40 years, his passion for food beckoned him but without any expertise on starting and running a business, he opted for a logical solution—a franchise.
Start with the proven
Welcome to the world of franchises where you can invest to experience the starting a business. While you bypass the ideation, brand building, infrastructure management and other problems, all your focus should be on driving the business growth. There are a lot of benefits to acquire franchises:
Franchises have better success closer rate than new ventures
Lesser risk as a part of an established management network
Profits are assured and quick due to potential clientele outreach
Besides, there is the added advantage of personal growth through management coaching and expertise provided by the franchisors.
How to start?
Franchises have their own limitations and not all ventures look like the success story of RJ Corp that has $2.3 billion net worth with brand franchises of KFC, Pizza Hut, Costa Coffee and bottling plants for PepsiCo. This is not a venture where you invest and forget, it requires the same amount of effort and labour on your part as any start-up. Sometimes things can fall flat on the growth curve because of a number of reasons. So, here are some pointers to consider before you take the plunge:
Choose the right sector and industry type that fits you, take into account your professional expertise or interest areas that will help you tackle day-to-day business issues.
This is an opportunity to learn the ropes of going it alone, franchises have set conditions about outlook and implementation, hence, the scope of innovation is minimum. Be aware of all possibilities before signing a deal. Remember, it pays to learn before you start spending the money.
Educate yourself about the franchisor’s development plans and commitment towards franchisee owners so that the relationship charts continued success.
Still wary about which brand to choose? Remember, you are not alone and guidance is quite within the reach of your fingertips. Franchise Global (FG) is a platform for opportunities in franchising as well as a centre for information in the industry. Contact us today to get the support you need to start a successful franchise partnership!
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