Franchising « Logic Does Not Apply :: Franchise Business Advice

Franchising

Franchising — No Comments
9
May 13

Benefiting from Younger Brands

I really enjoyed this article from Rieva Lesonsky about how small business owners can benefit from “clean slate” brands. She says,

“Conventional wisdom has always been that it’s hard to bring a new product to market because consumers have an inherent preference for the familiar. Humans are hard-wired to resist change, because in our caveman days, change meant danger. So whether they’re buying toilet paper for the bathroom or telemarketing services for their business, most people stick with brands they already know versus unknown new brands.

But that may be changing, Trendwatching reports, thanks to new consumer attitudes creating a preference for “clean slate” brands. That is, new and unknown brands that are suddenly enjoying consumer approval.”

There is a lot of opportunity in the arena of new franchise concepts. They are often more affordable than well-known brands. And, as I’ve talked about before, the benefit of a younger franchise is that, as a pioneer, you can help craft the business from the inside out.

You can read the rest of Lesonsky’s article here. Do you agree that big brands carry baggage with consumers? What do you think about the possibilities inherent in a newer brand?

Franchise Friendships

Franchising is not just about business and money. It’s also about relationships and friendships. I love that I have forged some cherished friendships with fellow FranNet franchise owners and associates – friendships that I believe I’ll have regardless of where I am or what I’m doing with FranNet. As you can see from the pictures above, we work together, we play together – we even vacation together.

Like any organization, a franchise has a culture. That is something to pay attention to when investigating a franchise you are considering owning. As you talk with the franchise owners during your due diligence, ask yourself if you like these people. Would you look forward to hanging out with them when you see them at the franchise conferences? Do you feel like you’d fit into this club? This is an intangible – yet significant – variable in being happy with the decision to partner with a franchise business. You’re partnering with your fellow franchise owners as much as you are the parent company.

Franchising — No Comments
29
Apr 13

When Not Knowing is OK

Heather Rosen is my FranNet colleague and fellow franchisee owner of FranNet of Virginia. Living in the Washington, DC metro area, Heather has an interesting perspective on current events that she was kind enough to share with us here.

Enter Heather….

If I had a dollar for every time I’ve overheard someone say, “But what exactly is the sequester?” I’d be a rich woman. Living just outside the Beltway in Northern Virginia, our local news is national news. The lives of many, if not most, of my neighbors ebb and flow with the tides of the federal government. As you can imagine, my clients are pretty well-versed in government regulation, too, and I am frequently questioned about how this or that new policy or proposal will impact small business.

My answer? I don’t know.

I have no idea how the sequester, a minimum wage increase, or healthcare reform will play out inside the walls of a small business. I could guess, but when it comes right down to it, I’m not sure.

And I’m totally OK with that.

There will always be new government regulations and changes that impact your business. The difference in a franchise system is that you have the resources of a corporate office – with lawyers and experts – figuring out how to handle those changes for you. Because I am a franchisee of FranNet, I know that my team back at HQ in Louisville, Kentucky, is hard at work figuring it out for me. And the International Franchise Association is looking out for all franchise owners, lobbying on our behalf.

If I was just a mom-and-pop shop owner, I’d have to take time away from my business to research and worry over what each government whim would do to me. I might be forced to hire a lawyer or some other specialist and dedicate resources to figuring out how to handle it. Or, more than likely, I’d have to ignore what was going on in Washington and then get blindsided later.

Instead, as a franchisee, I have a team backing me up. That’s not to say that I’m not going to expend any mental energy trying to guess where a change in Social Security might hit my bottom line, but I am secure in the knowledge that my franchisor has my back. Even independent-minded business owners like me need that sense of security.

Heather Rosen is president of FranNet of Virginia.

Franchising

Benefiting from Younger Brands

Franchise Friendships

When Not Knowing is OK

Connect with Leslie

Archives