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A healthy level of fear or concern goes into starting any new endeavor. Franchising is no different. The what-ifs might fill your head with worry, causing you to hesitate to take those first steps forward. In those moments, a simple roadmap can help as you leap into a promising but unknown world.
Franchising is by no means simple, but it is rewarding, and there is structure. If you’re toying with or planning on starting a franchise in 2023, here is the three-step process to get you started and successful with your new business.
Step 1: Find Your Franchise
This first step might seem obvious at first blush. You can’t start a franchise business if you don’t know what type of franchise you want to start. Yet the process that goes into choosing the right franchise for you is important and can have a direct impact on your long-term success.
As you’re searching for the right franchise for you to start, consider these three things:
- Is this franchise one you’ll be passionate about for years to come?
- Is this franchise one that will be widely accepted in your community?
- Is this franchise one that offers startup support and ongoing training?
Using these three questions as your filter when selecting the franchise you want to start will help narrow your options and hone in on the right fit for your personal and professional goals.
Step 2: Launch In Your Community
Once you’ve chosen a franchise and started the startup process, you’re ready to launch in your community. The franchise launch process often starts long before you ever open your doors. It starts when you break ground on your new facility. It starts when you hang up signs that let others know your doors are opening soon. And it starts as you share with local media about your new endeavors.
Building the buzz about your new franchise coming to your community allows people to get excited. When you do open your doors, you’ll be met with a wave of momentum that’ll help get cash flowing in quickly instead of dripping in slowly over time, helping you to pay off that investment faster.
Step 3: Build Your Business
As the excitement around your new franchise levels out, you’ll want to continue building your business to maintain momentum and cash flow. To do that, successful franchise owners often lean on the expertise and assets given by the franchise corporate office.
The beauty of franchising is that you don’t have to go through the growth process alone. Using the marketing tools and training offered by most franchise businesses allows owners to grow faster than if they had gone it alone. These assets and roadmaps are one of the biggest propellors of success for franchise owners and the beauty of starting a franchise business.
To grow and be successful in this endeavor, leveraging that support every step of the way will help you achieve ongoing success in your business.
Kimberly Crossland is the founder of Roadpreneur and Cruisin' + Campfires, two companies designed to keep families together and living in freedom through travel and entrepreneurship. The goal of both businesses is to inspire meaningful change through the power of a strategic, thoughtful approach to life and business. In her free time, you can find her looking for a new adventure together with her two boys.