Not all franchise business operators come with years of management or even business experience. For a considerable number of franchisees, operating their business is a first and with that comes a lot of opportunities to learn and take in valuable feedback.
The learning curve period varies for every franchisee in terms of intensity and length, and it can last years into business operation depending on the type of business and the franchisee’s personal background and skill set.
Some points to weigh as you prepare for that period of time when you’re still a newbie, picking up more and more information and knowledge (and wisdom) as you develop your business:
– Fast Growth –
How prepared are you to handle a fast developing business that moves forward quickly once your doors are open? Sure, many franchise business operators’ worst fear is slow growth and not breaking even or even profiting after opening day becomes yesterday’s news. Yet franchisees fresh into their business can and do experience incredibly successful starts, partly due to a recognized brand that thousands of local customers already trust and appreciate.
Planning ahead and fully preparing for the growth of your business—however that growth may come—is critical, though perhaps not entirely possible. One aspect of the learning curve is accepting it and enduring its challenges as you stay present with each day’s agenda. Considering how to maneuver months and even years in advance of future milestones takes a significant amount of foresight. Sticking close with your franchise system for support is beneficial to align your business with what’s been working for others all along.
– See Beyond the Struggle –
No matter how rough the start of operating a totally brand new business can be, franchisees have a serious advantage. All that support, training, and ongoing guidance can make the learning curve easier to bear. Still, the initial weeks, months, and years of running a business come with their own special boot camp experience specific to the particular industry and even the geographic territory of your business.
Many find the positive impact they make in their communities to be worth any struggle. By focusing on gradually storing up positive experiences with locals, you empower yourself, your team, and build a business that your community can rely on. Creating goals that center on developing relationships with customers over time takes the focus off of challenges and places it back where it really should be: on serving others with the support of a team while growing your business one day at a time.