What makes a successful franchisee?
The first step is to determine “WHY” you are considering owning a franchise in the first place. Some things we have heard in the past include:
- To make fast money and not have to work long, hard hours?
- I want to be my own boss and control my destiny.
- I hate my job and need to make a change.
We get it, life can be a challenge, and sometimes looking for something new can renew a sense of purpose, add excitement to your life and offer an escape from reality. But making decisions under extreme circumstances is not always a great option, so we wanted to offer some insight into what makes a successful franchisee – in any system – for you to consider as a part of your evaluation.
Are you willing to place your time, energy and money into a venture that has the possibility of failing? No matter how you look at it, you must be ready to take a leap of faith. There are failures in franchising, albeit less than 10%, but the risk is still there. The Pet Planet system is designed to give you the best possible chance at success. Our partnership with you, based on nineteen years of historical learning, gives you the confidence you will need to make impactful decisions about your business based each and every day. However, accountability will ultimately fall to you – can you handle all of the unknowns associated with owning your own business?
This is a tricky question. A franchise model means that you own and operate your own business, but there is a flip side to that professional freedom. A franchise model comes with a strict set of guidelines that operators must abide by to be successful in the system. You are buying a Pet Planet – not an “insert your name here” store, so there will be guidelines and responsibilities as an owner in our system that you will have to adhere to as a part of your franchise agreement.
The primary reason franchising works is because the learning curve is transferred from the Franchisor to the Franchisee. The Franchisor has developed a successful system and if you want to be a Franchisee, you have to stick to the system. Remember though that these guidelines have been put into practice with care and diligence after many years operating in the pet industry. They exist to make you successful. It’s all a part of our partnership together.
Do you wait for others to take the initiative? Do you need the approval of others and considerable support before you make a decision, start a task or move in a new direction? Self-reliance is critical as you will be managing your business day-to-day, but one of the most significant advantages to a franchise is the support provided by the Franchisor. “You are in business for yourself, but not by yourself”, is a phrase that holds true to a successful franchise relationship, and Pet Planet truly represents this concept.
the success or failure of a new venture?
If you are the kind of person who enjoys being in charge, then having the authority and responsibility for the success of the venture will not be a problem.
In the first few years, operating a new business demands a hands-on approach, sometimes translating into long hours and much dedication. Also, it is not very common to make a lot of money early on so being able to view this time as an investment into your long-term goals will be crucial to your overall success.
Being money motivated is important. This characteristic will tend to hold you in good stead when you have to work those long, hard hours in the early years of your business. Your hard work will pay off, patience and consistency will be the key.
Being negative is a luxury ill afforded in business. Negative thinking leads to failure. You simply must be a positive person to succeed.
Can you interact with people effectively? Do you like people? In nearly all franchises, good people skills are one of the most important traits to becoming successful in business. You are the face of your business, so truly knowing this about yourself is imperative to your decision.
Do you enjoy training people in new tasks? The nature of the Pet Planet concept necessitates that you are able to translate the things that you learn to those you work with. Pet Planet has an extensive training program that will prepare you for your store, but you will be responsible for educating your staff on everything from operational standards to nutritional information. Being able to translate what you know to your staff will allow you to trust your team to properly represent you and the brand when you are not in store.
Additionally, one of Pet Planet’s key differentiators is around our ability to help. We do this by offering safe and trusted products in our stores in tandem with our knowledge on the application of those products as solutions for our customers and their pets. Our brand is very well-known for our educative practices so it will be important that you are comfortable educating our consumers too.
Being a business owner requires wearing many hats. There will be days when you will have to be everything and everyone in your store, from mopping the floors to entering orders, and from dealing with your customers to stocking the shelves, not to mention all of the administrative requirements, you will have to be ready to manage all aspects of your business at any moment.
Achieving success requires a certain degree of inner strength, confidence and a willingness to make your business a top priority. It will take sacrifice and time, but the rewards can be plentiful.
When you are ready, we are ready to meet you!
Continue reading: Why Pet Planet