Archive for the 'Concept of Franchising' Category

Laid Off No More – Start a Franchise!

November 16th, 2010

(Buy A Franchise Unlimited, Seattle Franchise, Bellevue Franchise)

Longtime corporate worker now happily her own boss after buying franchise

Erin Dillon bought an AdvantaClean Franchise in May after being laid off two years ago from Wendy’s International, where she worked for 33 years. Many unemployed workers consider starting a business when they can’t find work in a tight job market, a CareerBuilder survey found. The survey found that 26percent of workers who were laid off in the past six months and have not found jobs said they are now considering starting a business.

The work at times takes her to dark, dank and moldy places. Sometimes, she can be found creeping through crawl spaces, trudging through water-damaged basements and cleaning out dusty air vents.

But Erin Dillon couldn’t be happier.

The former Wendy’s International business-systems analyst has traded in her business suits and heels for a uniform that includes her own company’s embossed polo shirt, workpants and boots.

Dillon is one of the thousands who have lost jobs in the past couple of years but have found light at the end of the tunnel.

Having lost her job of 33 years after Wendy’s merged with Arby’s in September 2008, Dillon took a portion of her severance package and her savings to buy an AdvantaClean Franchise. The company specializes in cleaning air ducts, mopping up after water damage and clearing away mold.

“It’s not pretty work, and it’s labor-intensive,” Dillon said. “But I’m in control of my own destiny and am no longer at the mercy of corporate America.”

Although Dillon had no experience in the field, she said that an AdvantaClean Franchise appealed to her because of its profit potential.

And even more appealing was that owning a company would allow her to “never worry about finding myself in a position to be severed again from my job,” she said.

Historically, the small-business sector has created the most jobs at the end of an economic downturn, Brent Rasmussen, president of CareerBuilder North America, said in a statement.

“The intellectual capital that companies were forced to lay off over the last 18 to 24 months was substantial, and it is not surprising that many individuals are using their business skills to create their own opportunities,” he said.

According to the International Franchise Association, the franchise industry created more than 140,000 businesses and 1.2 million jobs in a five-year period after the recession of 2000-2001. The group forecasts that the number of franchise businesses will increase this year by 2 percent – nearly 18,000.

Dillon is the first woman to own a franchise with North Carolina-based AdvantaClean. Meetings with a job coach helped her to decide to open a business, and a franchise broker helped her decide what business she wanted to buy.

She bought the franchise May 1 with an investment of $100,000 and went through training to become certified in mold inspection and remediation. Although Dillon does much of the home and business inspections herself, she’s hired two consultants to do much of the labor.

Dillon already has been hired for 57 jobs, and she projects sales of $150,000 in her first year and $240,000 in her second year.

She said that although losing her job was unexpected and starting a business isn’t easy, she plans to run the business for at least 15 years.

“Not everyone can do this, but if you have the inclination to start your own business, do it,” Dillon said. “I’m in my early 50s. This is my retirement money that I’m trying to grow.”

Her advice to other laid-off workers unable to find work?

“Things happen for a reason. It’s been a really great adventure. It’s OK to take control of your own destiny. You don’t have to always rely on other people.”

Want to go into business?

If you’ve ever thought about becoming your own boss, here are a few things to consider:

• Use the knowledge from your experiences and positions to become a consultant for a particular industry, field or specialty. Reach out to former colleagues, vendors, clients, etc., to let them know that you’re in business for yourself.

• Establish yourself through contracting. Search for contract and temporary opportunities that will help you build your portfolio and networking contacts.

• Leverage social media to promote your services. Promote your personal brand through sites such as Facebook, Twitter and Brightfuse.com. Include links to past work, testimonials and accomplishments. Start a blog addressing issues in your field of expertise.

• Think about direct sales. If you’ve ever been invited to a plastic-container, makeup or candle party, you’ve been a part of direct sales. Take what you’ve learned from those experiences and apply them to becoming a sales representative.

Consider a Franchise – on your own or with others. Buying a franchise typically gives you the right to trademarked names and materials in exchange for a percentage of your profits.

(Buy A Franchise Unlimited, Seattle Franchise, Bellevue Franchise)

Popularity: 17% [?]

Overcome Your Fears of Owning Your Own Business!

November 7th, 2010

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

This morning I happened upon an excellent article written by Pam Duskocy of Schooling Mitchell.  She has hit the nail on the head.  Read, Learn, Apply, Flourish, Succeed.

There are many reasons why an individual doesn’t pursue the dream of becoming an entrepreneur. Some are legitimate reasons, including the fact that personal desires and dreams don’t include being in business for yourself. Some people simply don’t have a desire to be in business for themselves and that is perfectly legitimate.

However, it is interesting to note that studies show that 70% of the people surveyed indicated that they had a desire to own a business, and yet so many never pull that trigger. Sometimes financial constraints, or personal and family reasons, are the inhibitors that simply won’t allow for the beginning of a new venture.

While there are certainly legitimate reasons why a person may not become an entrepreneur, I will focus on a few of the main reasons cited by people that would like to begin a business but haven’t made that leap. I will also offer some thoughts on how to defeat the fear, and progress towards the dream.

Fear of Failure

This particular item is probably the most paralyzing of all. Yet, if we examine all of the successful people we know, both past and present, we will come to understand that they have not been frozen by the fear of failure. That poses the question, should we not try to emulate the practices of those that are successful? If so, then the primary challenge is to shed the fear of failure. They did – all of them. It doesn’t mean they didn’t experience it, but it does mean they climbed past it. They probably blasted past it.

In their book entitled “Power Networking”, Sandy Vilas and Donna Fisher proclaim that ‘life is either a daring adventure or nothing’. Their message is that if you don’t dare to pursue opportunities, then you will be stuck where you are forever. I am a true believer in a similar concept that if there is no risk, then you’re playing it way too safe.

To explain by way of a metaphor, if a basketball player finishes a game with no fouls, they were probably playing too safe, they probably didn’t take chances that should have been taken, and they did not achieve their optimum result. And yet, each foul is a failure – but a failure that is a part of the overall success.

As humans, we have a biological make up that provides for the natural instincts to fight or run. When we feel the fear of failure, we feel anxious and nervous, which causes us to tighten up and quell actions. We then tend to convert to natural defense mechanisms and escape to meaningless and time-eating activities. Instead of taking action, we bury ourselves in television nonsense, newspapers, and computer minutia, or whatever the particular medicine of the day dictates. That’s the run-and-hide reflex.

The result is that vagueness sets in and we lose sight of the important issues that can change our lives for the better. Our natural reaction is out of sight, out of mind – no worries. Of course that means finding solutions or finding change for the better is an impossible feat. The contrary, and effective, line of thought is, bring it out and deal with it. Picture the worst result, and then use your imagination to identify alternatives. Realizing that the worst scenario can have alternatives is powerful medicine, which will relieve the pressure and make action possible.

As you can imagine, the most powerful, the most successful, have faced the fear, acted upon it, and realized that they can survive it. That realization is a tremendous springboard to prosperity. Susan Jeffers said, “feel the fear and do it anyway”.

If I had to summarize six steps or thoughts to deal with the fear of failure they would be:

1) Act boldly
2) Persist and never, ever give up
3) It’s not personal
4) Change things, change results; keep things the same, don’t expect different results
5) Ease up on yourself – tomorrow’s coming anyway
6) Look for possibilities – there are always alternatives

One final thought about this subject – fear incapacitates unsuccessful people.

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

Popularity: 23% [?]

Buy A Franchise – Franchise Agreements – Pt. 2

October 8th, 2010

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

This is Part 2 explanation of Franchise Agreements.

As stated in our prior discussion about Franchise Fees, the relationship is not one of parity. As mentioned, ‘If it were a relationship of parity, the Franchisee would take on a great deal more responsibility, and of course, liability and risk as well. So the relationship is not one of actual partnership in the legal sense. Therefore the Agreement is not a Partnership Agreement in the legal sense either. However, good Franchise systems will generally recognize their Franchisees as Strategic-Partners, meaning they are in a partnership of sorts that is aimed at achieving unified goals, but not one of legal partnership or equity.’

Consequently, the Franchise Agreement will describe the details of operation and the methods of protecting the system. After all, each Franchisee wants to be sure that the Franchisor has the right, and the clout, to deal with any Franchisee that causes detriment to the system – the very system in which they are investing. Each Franchisee should want to know that the Franchisor will have the ability to protect their investment, and evolve the business to increase in value on their behalf. In order to provide for those protections, the Agreement will seem to be slanted in the favor of the Franchisor. Actually, it’s slanted in the favor of the system.

One of the more expensive errors a Franchise Candidate can make is to simply take the Agreement to an advisor that is not familiar with Franchising. I have seen legal bills for thousands of dollars where the lawyer wanted to negotiate every clause of the Agreement as if it were a normal Partnership Agreement. Those dollars end up being wasted because the Agreement is not negotiable, regardless of the basic business tenet that everything is negotiable. In this case, the lawyer should be trying to help the Franchisee to understand that the system operates in a certain way, and to determine if the Franchisee is comfortable operating the Franchisors system in their own market under the terms described in the Agreement.

It’s akin to going into McDonalds and ordering three Big Macs and a hot dog. McDonalds doesn’t sell hot dogs. They have a proven formula that works for their Franchisees, and in their case, that doesn’t include hot dogs. So if someone wants to sell Big Macs, they can become a McDonalds Franchisee. If they want to sell burgers and dogs, then they will have to start ‘Joe’s Burgers & Dogs’.

In a more general sense, the Franchisor has certain disclosure requirements in both Canada and the United States. In certain States, the Uniform Franchise Offering Circular (UFOC) has to be registered before Franchises can be offered. It is incumbent upon the Franchisor to ensure that the Agreement that is signed with its Franchisees is consistent with the Agreement included in Disclosure Documents. Therefore, if the Franchisor negotiates the various clauses of its Agreements, then they will be inconsistent with their Disclosure Documents.

In summary, the main reasons that Franchise Agreements are non-negotiable include:

  • The requirement and desire for consistency among all Franchisees
  • The need for a strong Agreement that can consistently deal with any problems that may arise in order to protect the system for all Franchisees on an ongoing basis
  • The strong belief in the value of the system, which makes that system so valuable to each participant, extends to the Agreements among all parties
  • The need for consistency with Disclosure Documents

For a Refferal to a top Franchise specific legal firm to represent your interests, please contact me.

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

Popularity: 2% [?]

Buy A Franchise – Franchise Agreements Pt 1

October 6th, 2010

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

All good Franchise systems will require that Franchise Agreements are the same for all Franchisees. As a consequence, they will generally make the statement that the Franchise Agreement is a non-negotiable instrument. If a Franchise system allows for the negotiation of the various clauses contained within its Agreement that should be an indication that their own belief in their system is not as strong as you might think. Yet the system is what a Franchisee will be investing in, so…

That’s not to say that Franchise Agreements don’t evolve over time to consider current business practices and opportunities. However, in any short-term time window, the Agreement will be the same for all Franchisees joining the system. If you think about that premise, that’s really what Franchising is all about.

The Franchisor offers a consistent system of value to all its Franchisees, including a uniform support system, branding strategies, operating systems, and administration systems. That’s a primary reason for Franchisees to invest in becoming a Franchise within the system – because those things all deliver a great value as opposed to starting from scratch.

Therefore it is imperative that the Agreement between a Franchisor and each Franchisee is the same so that everyone knows the playing field is even. The Agreement is really a description of the business systems, and the rules of engagement for that system. Each Franchisee should review that Agreement to ensure that those systems and those rules of operation make sense for them. Each Franchise Candidate should make the decision that ‘yes, this makes sense to me, and I can prosper in this relationship, control my own outcomes, and build an asset for the future’.

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

Popularity: 3% [?]

Buy A Franchise – Basic Business Concepts Part 2

September 25th, 2010

(Buy a Franchise, Seattle Franchise, Bellevue Franchise)

This is Part 2 of my 3 part series on Basic Business Concepts:

Money

This is the most accepted version of currency in most people’s minds. In fact, money is used in our common language synonymously with currency. I propose that it is only one currency, albeit the one we trade with in commercial transactions most apparently.

In reality, it’s just the bridge between the caribou and the carrots. I mean, surely people don’t really want a stack of paper. No, they want the carrots if they’ve already got a bunch of caribou. Our forefathers have simply been able to structure a system where the paper can be traded for stuff, and stuff can be traded for paper – and we’re all willing to abide by this trading system.

So a dressmaker is willing to trade one of his dresses for some paper. The landlord is willing to rent part of her space to the dressmaker to display dresses in return for some of his paper. The grocer will accept the landlord’s paper for some carrots – no caribou required.

We all get this one. So if we know that one of the currencies that businesses desire is money, then our products and services must be able to help our customers gain more money. It seems simple but I’m not sure we have that goal firmly in mind when we illustrate our wares.

However, just like the system of trading stuff for paper is simple, so is the concept that we need to show our customers how they can gain more money by doing business with us. The better we can communicate that message, the more attractive our goods and services will be to our desired customers.

(Buy a Franchise, Seattle Franchise, Bellevue Franchise)

Popularity: 4% [?]

Buy A Franchise – Basic Business Concepts – Part 1

September 23rd, 2010

(Buy A Franchise, Seattle Franchise, Bellevue Franchise).

If you are looking to start your Franchise in the Seattle, Bellevue  areas, as well as anywhere in the country, these basic business concepts apply to Franchises in all areas.  I will address this in a short 3 part Franchise series.

Every Franchise system should have a clear understanding of the following concepts. In addition, they should have a clear marketing strategy to help their Franchisees communicate to customers and prospects about how they will deliver these currencies as they operate their Franchise.

Trade

Give something to get something. Our inhabited globe has come a long way since the act of trade meant that ‘I’ll give you one caribou if you give me three baskets of carrots and a cord of wood’. However, that same basic tenet still drives all economic transactions. Value for value is the test. If we can create more value then we can get more value back when we auction ours. The only difficulty is that the definition of value is ever-changing. Therefore it would make sense that if we can figure out who defines value, we will be able to create and deliver more of it.

Remember from the discussion about Basic Franchise Business Concepts that… ‘It’s all about the customer’. So if we accept that it’s all about the customer then it follows that the customer is the beast that defines value. Seems simple. Seems basic. Seems unchallengeable.

O.K. so how do we figure out what the customer defines as value? It seems to make sense that we need to find ways to ask the customers that we choose to serve. We need to ask them to define what they find more and more valuable. We also need to accept that the definition of today will not be the same definition of tomorrow. At some point, somebody figured out that the customer wanted a fatter caribou, and if a fatter caribou was delivered, then four baskets of carrots and some extra wood could be obtained. They probably asked the carrot guy.

Study of business customers in today’s world will reveal that there are some basic currencies of trade that hold value for the customer. Understanding these basic currencies will help to define the specific methods and characteristics that are required of the product or service you provide to meet the value definition of your customer.

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

Popularity: 4% [?]

Buy A Franchise – Government Data Supports Franchising

September 19th, 2010

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

NEW GOVERNMENT DATA WILL HELP SUPPORT THE ECONOMIC IMPACT OF FRANCHISING

WASHINGTON, Sept. 14, 2010—The International Franchise Association said that new data in the 2007 Economic Census Franchise Report released today by the U.S. Census Bureau will provide new information to help determine the economic impact of franchising.  The Census Report was released by Tom Mesenbourg, deputy director of the U.S. Census Bureau, during IFA’s 11th Annual Public Affairs Conference being held here.

“Determining the economic impact of franchising is a key strategic priority for International Franchise Association in our efforts to showcase the importance of franchising to the U.S. economy,” said Ken Walker, IFA chairman and chairman and CEO of Driven Brands.  “This 2007 Economic Census Franchise Report will provide valuable data for the IFA’s third edition of the Economic Impact of Franchised Businesses, conducted by PricewaterhouseCoopers and scheduled for release during the International Franchise Associations’s convention in February 2011.”   

Walker said that the report was the result of cooperation between International Franchise Association and the U.S. Census Bureau to include questions on franchising in the economic census for select industries. The new report includes national-level estimates by industry sector of franchise establishments, employment in franchised businesses, and payroll and sales from franchised businesses. The report includes data from businesses with paid employees in nearly 300 industries.   

 “Franchising plays a vital role in our nation’s economy and drives new job creation,” said Walker. “This new report represents the first comprehensive ‘census of franchising’ by the government and demonstrates that franchise businesses provide many options for entrepreneurs who may be considering starting a franchise business. We appreciate the efforts by the Census Bureau to collect and make this data available.”

The Economic Impact of Franchised Businesses, Volume 3 scheduled for release in February 2011, will expand on the 2007 Census report, with additional data from businesses without paid employees.  Like the previous reports, Volume 3 will also include estimates of the indirect impact due to the products and services that franchises purchase from other businesses.  Volume 3 will include measures of both GDP (Gross Domestic Product) and economic output. The report will include breakouts by line of business, by state and Congressional District.   

These economic research reports are conducted by the International Franchise Association’s Educational Foundation to foster a better understanding of franchising’s role in the free enterprise system, its contributions to the U.S. economy and the variety of paths franchising provides for entrepreneurs to become business owners.   

To view the 2007 Economic Census Franchise Report  click here

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

Popularity: 2% [?]

Buy A Franchise – Unified Thinking

September 14th, 2010

 (Buy A Franchise, Bellevue Franchise, Seattle Franchise)

The entire process of due diligence, for both a Franchisor and a Franchise Candidate, should be about determining whether there is unified thinking. My counsel is to step back at the end of your due diligence process and ask yourself the following question: Did the process help both parties to determine if they have unified thinking about the business at hand? If the answer is not yes, then you’ve either got more work to do, or something with the system is not right, and you should examine alternatives.

Franchising is about finding the right strategic-partnerships to allow both parties to prosper at a higher level together than they would if they were not to enter into an agreement to do business together.

Franchising is the Franchisor’s strategy to penetrate and dominate a marketplace – simultaneously. You’ve got to be comfortable with the Franchisor’s strategies to do just that. If those strategies make sense to you, it can be a great ride in achieving success together. It can be a great ride in building a brand that increases in value as time marches on. Franchising is also the Franchisor’s strategy of pooling resources. Those resources include the resources of the Franchisor, as well as those of the individuals that join the system as Franchisees including their ideas, talents, motivations, financial and management resources.

If you are comfortable with these basic concepts of Franchising, you should then assess your needs, wants and desires to make sure that they can be met with a successful Franchise in the system. You should also bring to the surface all of your fears, uncertainties, and doubts to determine if you feel you can help solve them with the business of the Franchisor, and the future you can create for yourself with that business. The worst thing you can do is leave them buried.

Then there are the basic pragmatic questions. Will the Operating Systems of the Franchisor help you to deliver the business products and services more efficiently, and will they help you avoid re-creating a whole slew of wheels? Will the Support Systems help you to deliver the products and services better and better over time? Will the Brand continue to increase in value for your benefit?

Finally, can you see yourself reaching your goals, dreams and objectives by operating a successful business in the Franchisor’s system? Will the Franchise help you to achieve those goals and dreams?

If the Franchisor’s strategies make sense to you, and you can see yourself achieving your goals and dreams through the Franchise and its systems, then you have unified thinking – and the sky can be your only limit.

  (Buy A Franchise, Bellevue Franchise, Seattle Franchise)

Popularity: 3% [?]

Buy A Franchise – Concept of Franchising Part 2

September 10th, 2010

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

 This is Part 2 in my series defining the Concept of Franchising:

Get

Most people “get” this one. This is sales and marketing. Peter Drucker said there are only two things that create value in business – sales and innovation. The rest are costs.

I would suggest that many companies tend to become happy with their existing suite of customers. Or they land the “big one” and all is good. I would also suggest that if there are not constant strategies put in place to continue to get new customers, to get new blood, then stagnation will follow. Landing the “big one” can actually put the business in a very precarious position. It’s called over-trading. If the business relies too heavily on one source for its revenues it can be in big trouble if something goes wrong with that customer.

The solution to over-trading, and to keep generating a steady stream of new customers in order to keep any business vibrant and moving forward, is to implement great “get” strategies. And never quit. That’s certainly not rocket science, but it is a basic tenet of long term survival.

General Motors should have been trying to figure out how to “get” Japanese customers in the 1970s. That would have led them to understand how to “keep” North American customers. Enough said.

Satisfy

A lot of people really miss the boat on this one. I actually saw a truck drive by me recently that had a slogan on the side in proud, bold letters that said “We Deliver Satisfied Customers”. They seemed to be quite proud of the fact that they actually provided what they sell. All customers for all businesses expect to be satisfied or they wouldn’t complete the business transaction in the first place. Boasting that customers are satisfied is like saying, “we don’t rip you off”. Well, as Chevy Chase used to say, “big deal and thank you very little”.
Satisfaction must be a given. It is required for survival. It is certainly one of the four main purposes or objectives of business, but it is so often misunderstood. Satisfaction is what people buy, so they expect it to be delivered. We must constantly be wary of what customers expect in order to be satisfied, and it’s an ever-increasing standard. However, it’s nothing to brag about. It’s just what you sell.

In a book called “If It Ain’t broke, Break It!, Robert Kreigel wrote, “Embrace the unexpected. The only thing that won’t change is that everything will keep changing. Today’s skills, knowledge, and products live fast, get old before their time, and die young. The overnight letter, which was the innovation of the 1980s, is now used only when you’re not in a hurry.” He wrote that message 15 years ago! It’s a clear, and still valid, indication that we need to continually re-tool to meet customer satisfaction goals.

Keep

If satisfaction is a constantly moving target, and satisfaction requires ever-increasing effort and commitment, then to keep customers requires more than just satisfaction. Customers expect satisfaction. They buy satisfaction. People will copy satisfaction. If that’s all that is provided, then it comes down to price, and that’s a losing game no matter what business is at hand. Therefore, strategies are required to provide more than what the customer buys, in order to maintain long-term trusting relationships. Michael Vickers says to “take a standard service offering and up-level it.” That defines the “keep” strategies that a business must employ. Ignoring this one will again create stagnation or denigration.

Grow

Most of us have heard that it is less expensive to do more business with existing customers than to obtain new ones. It is my belief that you must do both.

In order to do more business with existing customers, there have to be consistent strategies in place to educate them about new products and services. In addition, you must understand their business, particularly as it changes, so that it becomes apparent when your products and services can be provided. You must also put practices in play to ask for more business. Complacency is too often the norm when opportunities are in front of us. Companies that implement processes to ensure these things are managed will continue to grow business via the grow strategies.

The grow strategies also include asking existing customers to support you in your business growth through others. It’s surprising how many people would be willing to help if they are requested to do so. Things like referrals, testimonial letters, agreeing to act as a reference, and introductions to their association are all offshoots of this strategy.

So there you have it. These are the four basic objectives of any business. Business needs strategies and formulas to continually get new customers, satisfy them, which is an allusive and demanding standard, keep them, which requires more than delivering what you get paid for, and grow business with them or with their help. These are the basic concepts of business, and they must be at the heart of every good business, and every good Franchise system. Evaluating a Franchise system should include an assessment of how well the Franchisor understands these concepts, and how well they execute strategies to make them happen.

Buy A Franchise, Seattle Franchise, Bellevue Franchise

Popularity: 3% [?]

Buy A Franchise – The Concept of Franchising

September 9th, 2010

(Buy A Franchise, Seattle Franchise, Bellevue Franchise)

Today I am going to deviate from providing information regarding many of the Franchise Opportunities that are available in the marketplace, and focus on the Concpet of Franchising itself.  .

In order to truly understand the concept of Franchising, an exploration of the basic concepts of business is required. There is no magic in that. It just makes sense in order to provide clarity about the Franchising strategy.

Franchising is not a business in itself. It is a business strategy. It’s a business system. That’s a significant distinction that isn’t always clear. McDonalds is in the fast food business, although many people feel they are really in the real estate business, while others think they’re in the entertainment business. Regardless of that discussion, they are not in the business of Franchising.  Ramada is in the business of operating properties. Snap-On Tools is in the business of selling tools, etc.

If someone says to you that they’re in the business of Franchising, they don’t really get what they’re doing. It’s all about the customer, and if the focus is not on the customer and their needs, then something is awry. Customers don’t need a Franchise. They need hamburgers, telecom consulting, hotel rooms and tools. So therefore Franchisors are not in the business of Franchising.

There is a credo that says that “Good is the Enemy of Great”.  First of all, if greatness is to be achieved, focus must be completely on the customer.  You have  to strive to have your customers clamor for your services. If we’re satisfied with being good at it, they willl never be great.  If we want to be great, our focus must be entirely on the customer to achieve that goal.

Purpose of Business

O.K, so let’s look at the purposes and objectives of business, regardless of whether the goal is to be good, or great.  I don’t think anyone has a goal to be bad, so we’ll leave that one out.  First of all, the basic purpose of business is to make money.  It is not about your way to give back to humanity.  That’s a charity.  People that wish to be in business for themselves are doing so in order to make money.  That shouldn’t be a surprise to anyone.

So how do all businesses make money?  As stated above, they focus on the customer.  Therefore, the purpose of daily activities, the objectives of business, are to get new customers, satisfy those customers, keep the customers, and grow business, either with, or through those customers.

Get, satisfy, keep, and grow.  There you have it.  These are the purposes of business.  The other four will be discussed in Part 2.  You can’t think of a transaction that happens in business that isn’t aimed at one of these four things.  The key is to understand that they are four distinct things, and they each require distinct strategies designed to achieve excellence in all four areas if greatness is to be achieved.

(Buy A Franchise, Seattle Franchise, Bellevue Franchise).

Popularity: 2% [?]