Happy New Year! It’s 2020 and that means it’s time to ring in the start of a new timeline in some of the biggest ways possible. After all, 2020 is not just your average year – it’s the end of a decade, leap year, and it’s a chance to get a fresh start at your business goals. If those goals include franchise ownership, reaching toward them now can help land you where you want to be by the end of the calendar year.
Don’t call it a resolution, call it a life goal! However, action is the most important part of any goal. Don’t delay any further. Take a look at these areas of progress and see how you can walk away as a franchise owner sometime in 2020.
Take advantage of this time of year to set yourself forward with good habits and goals reached. Business ownership is no small task, but it’s one that will set your future self up for business growth, professional success, financial freedom, and more.
Stop pushing off these important goals off into “someday” and turn them into now, this year, and TODAY!
Ready to learn more about the process?
Planning Your Franchise Moves
Before you can become a franchisee, you have to get all of the logistics out of the way. That means planning, paperwork, finances, a business location (even if it’s mobile), employees, management style, and more. All of this can be considered very early on.
But of course the first step of them all is finding the right franchise company. We have multiple blogs on what to look for and how to find your best franchise fit. (Search our blog page.) Take a few minutes to read them over until you feel well-versed on this topic. Ask questions and immerse yourself in the process.
Next, it’s time to start contacting each potential franchising brand. Reach out and get a feel for one another. Learn what their business plan is all about, and what franchising with them will look for you as an owner. Just as they are interviewing you, you’re getting to know them. Look for a franchising brand with which you can mesh well so it’s a better experience for all involved.
This isn’t a process that should be rushed. Take your time, feel comfortable and offer up plenty of research. There’s no shame in asking “too many” questions (or what feels like too many!). You should ask just enough questions to feel informed and comfortable about your career move and financial decision. Let it settle. Mull it over. Talk to your spouse, your friends, your business partner(s). Again, a well-informed decision is one that ensures all involved walk away happy.
The problem here becomes known as “the limbo.” Yes it’s important to take your time, but you should also be moving forward. Not bringing the process to a halt. Avoid this by setting a timeline. Write it down. Mark countdowns in your calendar and make yourself remain diligent. While you can ALWAYS find something wrong with a big life change, you should also focus on the good. What positive will come from this change? Does the good outweigh the bad? This isn’t a decision you have to make alone (talk it through with those close to you), but it is one you have to make.
Otherwise you’ll end the year in the very same way you started. Not owning a business, not a franchisee, and not reaping the rewards of your very own business.
Your Next Franchising Steps
Of course, once you choose and sign with a brand, you’re able to get to the good stuff. You can start looking at locations, hiring workers, marketing, and more. All the excitement and fewer gravity-ridden choices. This will take more time, depending on the franchising brand you sign with, they will have an average time to open. However, once you’re under contract, technically you’re a franchisee. Don’t beat yourself up if the logistics take longer and on into the next calendar year.
The main take-away? Forward progress will get you where you want to be as a business owner. Standing still leaves you with no progress to show for your time. Instead, make real goals toward franchise ownership and make it your reality for the months to come. It’s a status that will continue to bring joy and professional success in years (and decades) to come.