Hi, Glenn Walford here and welcome to Shaking Franchise Profits! This is the place to be whether you are a franchise owner now, or you want to buy one soon, or at a time in the future….
What’s Shaking Franchise Profits all about?….well if you own, or even want to own a franchise, then it exists just for you!
It’s all about you, and for you.
With the help of a bunch of other franchise experts from Australia and around the world, I’ll be bringing you “Real world, street smart advice” on how to make the absolute most of your franchise business.
Get The Most From Your Franchise
Choosing to own and operate a franchise is a fantastic way to be in business. The franchise model is a great business model.
It’s the ultimate way to leverage a whole bunch of information, resources, buying power, knowledge and talent to make a great big splash in a marketplace.
For the most part, the opportunities and potential available to you in a franchise to grow your business makes the decision to become part of one a no-brainer.
That’s why everyone is so happy and excited on the way in – because you see so much possibility!
But does that passion and excitement endure for the majority? Or more importantly, does it endure for you?
It’s important because passion is a key ingredient to your success.
Given my time working closely with hundreds and hundreds of franchise owners I’ve seen a bunch people with passion for their franchise as well as a whole lot without it, and it seems to me that the reason’s for this are two fold;
1. The day to day requirements of owning that particular business are not what they thought they were buying into (poor due diligence),
2. The business has not met their expectation in lifestyle and financial performance criteria’s they set for themselves. (poor planning, poor execution)
So what do you do about this if you are a person looking to buy a franchise or if you already own one?
Well the answer is pretty easy;
1. Make sure you buy the right one for you, and
2. Make the most of the one you have got.
This way even if you aren’t happy with your purchase decision you give yourself the best chance to succeed in it and move on from it.
But seriously, the one logical answer is to increase your knowledge on what you are getting yourself into and what actually works in your franchise business.
I call it ‘Franchise Literacy’. The great man Robert Kiyosaki of Rich Dad, Poor Dad fame talks about the critical importance of people to increase their financial literacy in order to survive this new world we live in, a world where the government sponsored safety nets of pension and health care are under enormous pressure.
Franchise literacy = knowing all of the in’s and out’s of what makes your business successful. Its not going to cut it for you just to ‘be informed’ – you’ve gotta soak up every bit of information you can and then apply it to make the right buying decision and ongoing actions and decisions in your franchise.
It’s all about doing what it takes to be successful for you and your family.
I whole-heartedly believe that you have got to take it upon yourself to gain a greater knowledge and ability about how to make your business hum.
Here’s the thing – to gain knowledge on what works in your franchise business, your franchisor may very well not be able to give you the knowledge or information you need.
OMG, there you go, I said it. Your franchisor may very likely not know everything!!
But that’s is perfectly ok.
You’ll find they are fantastic at a few things, good at some, pretty good at others, and the rest – you can determine…
I urge you to take responsibility to increase your franchise literacy to give yourself the absolute best chance of success.
For too long franchising has been a business model where many had the view that the answers only come from within because, either “We know our business and we know best”, or “I pay my franchisor for support so why would I look outside it for help?”.
This is about doing what it takes to be truly successful in your business so that you achieve or exceed the goals you set for yourself.
That’s what I’m here for, and that’s why I’m here!