At the start of every new year there are lists of top franchises to buy. The truth is that being a franchisee can be a highly profitable and rewarding experience. It is a very poplar business model, with over 78,000 franchise units operating in Canada, generating over $68 billion dollars in revenue every year. However, it is not a get-rich-quick scheme. Building a successful business requires hard work and sweat, even in an well established franchise system.
If you think that cleaning is cleaning is cleaning, then you don’t know about the business of cleaning! It is very common to think that commercial is interchangeable with residential. Actually, there are big differences between the business model of a commercial or janitorial business vs a residential home cleaning business.
1. Different Clients
When researching business opportunities, a question that often comes up is: “why a franchise?”
As in, why not just start up something on your own? Sure - that is an option. Think of it as the difference between baking from scratch without a recipe vs using a mix that is known to get results. Starting from scratch takes more time. more work, more mess, and there are more chances of things going wrong. Using a mix is much quicker, with more consistent results. It’s the same thing with investing in a franchise - less mess and more consistent results.
How do you feel when it’s that time of year again? No, not the holidays…the annual conference. Most franchise systems and industries have annual conventions. If you are reluctant to travel and leave your daily routine to go to yours, here are 5 reasons to go to annual conferences:
1. Be with peers. Your daily routine might be all about clients, employees, and vendors. An annual conference is an opportunity to be with your peers. You can share, vent, and ask questions in a safe environment - not something you can do in a mixed group that includes your competitors.
When I started Concierge Home Services back in 2001 I made mistakes. It is a right of passage for any new business starting off from scratch. One of the many benefits of joining a franchise system is that you fly over those pitfalls and land on the solid ground of experience. As a franchisee, you have a system to follow, but you are in control of your business, and mistakes can still be made. Here are the top 3 mistakes in a franchised business that you can avoid.