TRAITS OF A SUCCESSFUL FRANCHISE Part 2: The Elegant Solution

Any successful business needs to have loyal paying customers. But for a franchise, there is a second set of customers that need to be won over: the investors. And investors are a very special breed of people. They want to escape the rat race and become independent. They want a business that’s easy to run and a business that’s easy to grow.

 

Now, I’m not here to list fancy business formulas or to throw around technical terms that only folks with an MBA would understand. Instead, let’s just talk plain common sense and figure out the practical way to success, regardless of what specific line of business you are actually in. No matter if you sell pies, or pens, or penthouses—or everything but pies, pens, and penthouses; for a franchise to be successful, what it needs most is SIMPLICITY.

 

What makes a franchise attractive to a potential investor? In the end, what matters is whether the business will allow them the independence they want so much. What matters is whether this is a business that makes money without too much hassle. And that means:

a simple business model that is easy to replicate,

a simple product/service that is easy to create/provide,

a simple, straightforward, and easy to understand set of franchise guidelines and procedures, and

– a simple, easily recognizable brand.

 

If you are looking for a franchise to invest in, pick one that’s easy to run. The bottom line here is, a system that saves you time and can run smoothly without you is where real value lies for you as a business owner. Simplicity is the key to your independence. Isn’t that what you’ve been dreaming of when you decided to invest in the first place?

 

If you are thinking of franchising your own business, simplify it. Make it easy to run. Simplicity is the highest value proposition for any franchise. The product you are offering might be a pre-packaged business, but what you are really selling is financial independence.

 

If you need help with your franchise, or if you need a coach for your brand, just text or call Godmother at 0905-5556030 or email janina@godmother.ph. Janina Simion is Senior Partner at Godmother Philippines, a brand support agency that helps SMEs brand independently.

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