There’s a famous saying that goes something like this:...
If you are one of the growing numbers of folks interested in franchising, you are at the right place. Reading articles and taking in the expert opinions are important parts of your due diligence. When I bought my Kids R Kidsfranchise in 1996, I researched, sure, but I could have done a lot more. True confession: I got lucky. Very lucky.
When I bought my Kids R Kidsfranchise in 1996, I researched, sure, but I could have done a lot more. True confession: I got lucky.
I was reminded of that early part of the journey when I was interviewed this summer by Dr. John Hayes, of How to Buy a Franchise at the Franchise Expo in New York. John asked me many questions about the early days, especially how I found my way to franchising and then chose the industry, early childhood education, and then finally why I chose the franchisor. These questions were things I had not thought about in a very long time.
In 1996, I employed a lot of trust. I trusted a few individuals; I trusted my intuition, and I trusted my experience and education when I worked the numbers over and over before I signed. If I did it over, I would have used a different process.
Today, I would use industry experts, like John Hayes and ifranchise to help me. These franchise professionals will lead you to a perfect match for your lifestyle, financial commitment level, and the amount of time you want to spend running your businesses. John will even help you to determine if franchising is right for you; It may not be.
My advice? Set a time limit for your research, and then A-C-T. Sign the papers and start your journey. You’ll be glad you did.
For me, the story ended very happily. I sold my franchise in 2012 for several million dollars from a starting investment of $240,000. Today, I focus my talks and workshops on how franchisees can be more successful by applying some of the principles I adhered to: Building layers of loyalty, being truly competitive and running a numbers driven business that focuses on making the profit that you want to make and enjoy the lifestyle that franchise ownership can bring.
Maybe I was lucky for a reason.
Christy Wilson Delk delivers talks and workshops at owner conferences that encourage franchisees to be more strategically focused on building revenue and profits. Please contact her at ChristyWilsonDelk.com or 407.399.5554 for more information.
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