Franchise Ownership -”Do I have to be an entrepreneur?”

Stephen Winterrowd • Dec 16, 2017

If you are telling yourself, “I need to be a full on entrepreneur to successfully own a franchise”? My answer is no you don’t and it is better if you are not.

Franchise Ownership -”Do I have to be an entrepreneur?”

If you are telling yourself, “I need to be a full on entrepreneur to successfully own a franchise”? My answer is no you don’t and it is better if you are not.

People are using the word “entrepreneur” with “business owner” interchangeably, and I argue that is wrong. The internet is a blaze with this person or that person saying “Be an entrepreneur to really get ahead in America”. What they should be saying is “Become a business owner to get ahead in America”. The true entrepreneur is not in most of us but a desire to control our destiny is. The entrepreneur is someone that needs to own every aspect of their creation; the branding, the marketing, all the design layouts, and so on. Think of Steve Jobs, Henry Ford, Mark Zuckerberg they would have walked out the door if a Franchisor said “here is the playbook to follow for your business”. The bulk of us want to own a business and control our livelihood but don’t not have a unique idea or time to create something from scratch. That is why, I think franchise ownership is a perfect fit for someone that wants to own a business and not the entrepreneur. Franchise ownership allows you to be a business owner that creates jobs, take control of your financial future, and gives you the benefits of being self-employed without the struggle of having to create something or go it alone.

The reality is most franchisors want a less entrepreneurial franchisee because they want someone who will follow the model or the playbook they created. They want someone that wants to own a business and have the advantages of being a business owner but not someone that will battle them day-in and day-out on the vision of the brand. The franchisor who created the model, the marketing, and the branding and sometimes the widget is the entrepreneur. And you as the franchisee, get to tap into that entrepreneurial spirit of the founder and take advantage of that creation. Don’t you think that if Apple had franchise opportunities there wouldn't be a line out the door of people wanting to join them. Or if Starbucks was a franchise you wouldn’t want to be able to tap into that brand and into their marketing. Thankfully franchising is an option and allows business ownership for the majority of us who want to own our livelihood, to create jobs in our local communities, but don't have the idea or the risk tolerance to create it from scratch.

Instead of asking are you an entrepreneur, you need to ask if you have the willingness to bet on yourself and the systems of the franchisor. Do you have the desire to control your daily existence and what you have to do everyday. From my experience franchise ownership of the right concept for your individual needs, can provide that and much more.

If you would like to learn more about investigating a franchise or take a free franchise compatibility assessment to help find the right model for you, please reach out to me at 310-773-7662 or stephen@thefranchiseconsultingcompany.com

16 Dec, 2023
"Navigating Success: Unlocking the Potential of Resale Franchise Investments"
By The Franchise Consulting Company 22 Dec, 2022
Here are some of the ways we work with people to evaluate new franchise opportunities.
By The Franchise Consulting Company 21 Sep, 2022
Franchisors use a variety of methods to position their franchise opportunity in front of prospective franchisees. They promote franchising on their website, participate in tradeshows and use franchise consultants to introduce their business to someone who might not otherwise know about that type their opportunity. The 2021 Franchise Sales Index Report shows franchise consultants rank highly in producing solid leads for franchisors, and yet, the consultant works primarily for the prospective franchisee. Effective consultants can explain the franchising opportunity to someone who is new to franchising and perhaps even new to running a business. Some questions to ask a franchise consultant before working with them are as follows:
By The FCC 17 Aug, 2022
When thinking about getting into business ownership, an attractive option can be to purchase a turnkey operation.
By The FCC 28 Jun, 2022
Deciding what you want from franchise ownership is the first step you take in deciding how to buy a franchise that is going to give you a lifestyle you will enjoy.
By The Franchise Consulting Company 02 Jun, 2022
The franchising industry is significant in the United States. According to the Franchise Brokers Association, 18 of the top 20 franchises worldwide are headquartered in the U.S. In addition, 300 companies start franchising every year, leading to one in seven businesses in America establishing as a franchise. The franchising world is built on relationships where franchisors and franchisees are a good match for each other, making franchise business consultant jobs an in-demand line of work with a great outlook for the future. How franchise consultants benefit both parties Franchise consultants evaluate what both parties want from the franchisor-franchisee relationship. For a future business owner, a franchise consultant to explain the types of franchises that may be best suited for the lifestyle a person wants to live and the financial commitment they need to do that. In return, the consultant saves a franchisor time by providing vetted, higher-quality candidates who are more likely to be a good fit for the franchise. The consulting service is paid by the franchisor in the form of a commission so there is no risk for either party in pursuing the consulting process, making franchise business consultant jobs a preferable line of work for many people. Flexibility and income-building benefits As a franchise business consultant, you have the opportunity to do business around the world with people who are pursuing their entrepreneurial dreams. You will be continuously learning about the different details in each franchise model and the franchisee criteria that lend to a certain type of person who would be a good franchisee. In this role, you are a matchmaker of opportunities for people who are looking to run their own businesses. It is a highly rewarding career. This is also a career where you have a lot of freedom in how you meet your commitments. You will manage your own schedule and determine when you will take appointments, and with the commission system, you exert some control over your work-life balance in terms of time spent and salary earned. If you are considering a career change, becoming a franchise business consultant might be everything you are looking for - flexibility, salary diversification and a rewarding line of work. To help, there is training that can give you a strong foundation in franchising if you are new to the industry. Steps to finding good training There is no formal license for this career, but the International Franchise Association (IFA) offers a Certified Franchise Executive™ (CFE) designation that provides the most extensive franchising consultancy tool available. The IFA is the world's largest membership organization for franchisors, franchisees and franchise suppliers. Certified Franchise Executive applicants have three years to complete the program which involves a mix of work experience, event participation and mandatory courses. You learn about business development, franchise management, leadership, franchise strategy and operations. The International Franchise Professional's Group (IFPG) also provides a Certified Franchise Consultant designation which can be obtained in four to six weeks. The training includes a mix of online and in-person classes and closes with an exam. The IFPG offers continuing education courses each year so you can earn the required 60 credits per year to maintain your designation. An appropriate combination of education and experience In addition to training, your prior education and experience can play a significant role in this line of work. At The Franchise Consulting Company, our team includes previous franchisors, franchise lawyers and investors, executive mentors and others with past professional careers that add to this role. Our consultants are a diversified group which helps in making good matches. We invite you to peruse the profiles of our consultants to get a better idea of their certifications, backgrounds and experience. How to get started in a franchise business consultant job The IFA has a Getting Started Guide for their training which provides a good foundation for the technical elements of the franchise business consultant role. A Forbes article on soft skills is also a good review. It covers the importance of being able to communicate with franchisors and franchisees and the importance of keeping people on track throughout the process. You can also review our process at The Franchise Consulting Company and how we approach building a successful franchisor-franchisee relationship. As the world's leading franchise experts, it has been our experience that problems arise in relationships when one of four key steps is not followed carefully. Work with The Franchise Consulting Company We are always looking for the right kind of people who can contribute to our team as franchise consultants. We encourage you to become certified and to consider working with us. If you are investigating franchise business consultant jobs as a career direction that is a good fit for you, then we should have a conversation !
By The Franchise Consulting Company 02 Jun, 2022
As a company that deals with both businesses looking to expand through franchise and future business owners looking to become franchisees, Franchise Consulting Company is in a unique position to assist with your possible business expansion through franchising.
By The Franchise Consulting Company 02 Jun, 2022
Owning a business takes resilience, mental stamina and a good support network to keep you going and growing. Franchise ownership is a path to achieving the freedom of being in charge of your time and financial position for the right person. Is that you? Here are some pros and cons of franchise ownership to consider.
By Faizun Kamal 27 Jan, 2020
I left my life as an employee behind to begin a new one as an entrepreneur. I do what I do for a very simple reason. Disheartened with the corporate rat race, I left the race behind to create my own "BossLane". Why? I wanted a life unencumbered by the 9-5, filled with meaning and purpose, with the time freedom to be with the ones I love the most. I wanted to live life on my own terms. What is YOUR why? Do your internal "whys" reflect your outer life? If not, why not? If you are finally ready to begin reimagining your life, you may want to consider franchise ownership. faizun@thefranchiseconsultingcompany.com https://www.linkedin.com/in/faizunkamal/ https://www.facebook.com/faizunkamalFRANCHISE/
By Amanda Tokos 27 Jan, 2020
You’ve put your heart, sweat and soul into creating and growing your business. You’ve experienced countless trials and errors, successes and failures, updates and changes...yet you have remained resilient and developed systems overtime that have allowed you to become successful. It didn’t happen overnight, but it happened alright. And now you’re ready to share your concept with the right people to grow your dream. Whether you have already franchised your concept or you are thinking about franchising, it’s imperative that you are ready for that growth. Like anything that we build, a strong foundation is necessary, along with the proper amount of support. You know your business better than anyone else, but now it’s time to let the franchise development experts in to ensure your brand is set up for success with the proper building blocks in sales, operations, strategy and growth. If this is you, let’s discuss your options and get you expert advice on developing your brand. Amanda Tokos amanda@thefranchiseconsultingcompany.com
Show More
Share by: