Formerly Corporate franchise owner?
Buying a franchise can be a pretty good move.
- A franchise can increase your odds of getting off to a good start.
- You don’t have to invent everything.
- The business processes are (supposed to be) there.
- The business model—how you make money—is tested.
All should be good. And it often is. The more well known the franchise, the more established the business model, the more optimized the business processes, the better. (And the more expensive the franchise, of course.)
But then sometimes, after a while, the franchisee comes to ME.
I ask a franchisee who is looking for business coaching these three questions
- Have you taken all the training your franchise offers?
- Have you availed yourself of all the mentoring, coaching, masterminding among your fellow franchise owners that was offered?
- So why would you need a business coach from outside the franchise?
Here are just three reasons people have given me
1. Navel-gazing is not productive. When all the people you interact with have the same issues, guidance, and solutions as you do, creativity falters.
One client was the mentor to new franchise owners. He sorely needed fresh perspectives on the franchisor’s approach to make his own business work. (See #3 below)
2. Outside perspectives can show you completely different ways to deal with an issue. What is accepted as a given in one industry may be new thinking in another. Combining approaches can lead to breakthroughs.
To look around for what’s working elsewhere, the franchisee needs trusted advisors and colleagues with experience in other sectors. And who keep track of trends and success factors when the business owner doesn’t have time to.
3. The franchise is changing…its processes are not working so well or the business model has been disrupted. New investors have new ideas of how to do things, and are messing with the tried and true.
The franchisee is overwhelmed, frustrated and feels her priorities have been hijacked. Some things have changed, some things won’t change, some things must be changed. But which is which?
To paraphrase Einstein…
(That’s audacious, isn’t it?), the solution cannot be found within the system that created the problem.
Get some new thinking.