Running and owning a franchise is no walk in the park; it’s a lot of hard work. Are you ready to take it on?
### Owning a Franchise
Operating a franchise isn’t something just anyone can do easily. Most franchise businesses require their owners to be actively involved in the daily operations. In this discussion, we’ll focus on those who are full-time, hands-on franchise owners.
### Leadership
As a franchise owner, expect to put in extremely long hours, especially at the beginning. You’ll be responsible for various tasks, including:
– Interviewing and hiring employees
– Planning your grand opening
– Ordering inventory and supplies
– Setting up technology
– Conducting practice runs with employees before opening
If your franchise needs employees, you’ll start by leading them yourself. You’ll set expectations and demonstrate the standards you envision for your business. Over time, you might delegate some leadership tasks to a trusted employee, freeing yourself to focus on other essential aspects of your business, such as growth opportunities.
### The Hours
Generally, be prepared to work 10-12 hours a day, six to seven days a week, depending on the type of franchise. For example, owning a food franchise often means working 12-hour days, mostly on your feet due to the physically demanding nature of the work. Similarly, retail franchises require long hours with significant time spent standing.
Conversely, a B2B (business-to-business) franchise might involve fewer physical demands and shorter workdays. Since many B2B franchises operate Monday through Friday, you might not have to work as many hours as you would in a food or retail franchise.
Tip: When researching franchises, ask the franchisors about the hours required to manage a successful business.
### On Energy
Managing long hours demands a substantial amount of energy. Running a successful franchise requires more than physical stamina; you’ll also need:
1. **Mental Energy**
– You need to handle daily challenges like equipment problems, employee absences, and technology glitches swiftly and professionally.
2. **Positive Energy**
– Believing in your business, products, services, and your team’s talents is crucial. Your positivity will influence both your employees and customers, leading to a more motivated team and satisfied customers who are happy to spend their money.
### Conclusion
If you have the physical stamina, mental resilience, and a positive outlook, along with strong leadership skills, the potential for success in running a franchise is limitless.
