Being an entrepreneur is not easy. If it were, everyone would do it. Truth is, as an entrepreneur you have a different set of motivations that keep the fire in your belly. It has never been about the easy way. This is about building something that is definitively yours. But that doesn’t always have to mean starting from scratch completely.
Luckily, entrepreneurs have options. Franchise models offer entrepreneurs the freedom to create their own business, while having access to a framework that can help them along their journey.
Having said that, a franchise model is not for everyone. There are some who want to make a brand new path where none have yet tread. There is no right or wrong way to look at owning your own business. It takes a lot of hard work and dedication, no matter which model you choose.
It will come down to your individual motivation. Let’s consider the motivations being as follows:
If all of these fit the criteria for you, you may want to research a franchise model.
Franchises allow you to appease your entrepreneurial spirit, while also giving you some guidelines to work within so you’re not inventing the wheel from scratch.
Here are some of the benefits of owning a franchise versus starting a business from the ground up.
Every franchise runs a little differently. At Recipe, our model is to allow the franchisee the freedom of owning his or her own location.
We also can assist with renovating existing restaurants/spaces into an operable franchise location. And, if need be, we have in-house real estate professionals as well as professional design and construction teams that can help you find and secure the right space to fit your needs.
That’s right. Select and assemble the people you feel will bring you success. You’re in charge, so you pick the team. The benefit of doing this in a franchise scenario is that you have some guidelines to work with.
For example, Recipe provides franchisees with a set list of tasks that pertain to the skillset they need to hire for. This can really help when you’re looking for the right talent.
Ultimately the person needs to be a culture fit and their personality needs to mesh with you and your team. Those are things you get to decide as the owner. But as for the skillset, it’s helpful to have a list of ideal qualifications to work from so you’re not hiring blind.
Where you do have the freedom to run things your way, there’s still a framework that offers boundaries and guidelines for how the business should be run. This can be helpful for you when settling management issues and ensuring standards in quality, and employee conduct are met.
In Recipe’s case, starting with one of our franchises offers you a competitive advantage in purchasing, real estate, construction, marketing, and information technology. There are plenty of resources you can draw from to help your business succeed.
Brand power is a huge value proposition for establishing trust with your customers. If you’re joining forces with a name that has already been in the industry and established a great reputation over the years, it’s like starting the race mid-way down the track. It also means that customer expectations will be higher for what your location can deliver, but this is usually a good problem for entrepreneurs to have (i.e. keep the fire in your belly, as mentioned above).
This is probably one of the biggest considerations for entrepreneurs. You want to blaze your own trail. You call the shots. This is the same for owning a franchise versus your own startup business. The real difference with a franchise is that you start off with all the advantages of a successful model behind you. This can be a real advantage when hiring, and for appealing to new customers.
So yes, you’re the boss. And when you’re the boss of a successful franchise, your route to success is that much more streamlined.
If you’re interested in finding out about an opportunity that fits your entrepreneurial needs, get in touch with us. We’d love to meet you and see how your story might fit with ours!
Despite the massive challenges that the restaurant community is currently facing, the Recipe Franchising Team would like to extend our message of reassurance. Having been in business for over 137 years, we are confident we can get through this challenging time just like many others in the past. We take pride and ownership in the well being, health and safety of our franchisees, associates and customers. Recipe Franchising is looking towards the future with hope and continuous growth. With the challenges at hand, The Recipe Franchising Team has adopted a new process that we like to call "Frictionless Franchising", a way for you to meet, research, investigate and explore new franchising opportunities with us from the comfort of your home. We want to make sure that we are always here to answer your questions, inquiries, and help anyway we can. Please do not hesitate to contact us.
Stay healthy and stay safe.
The Recipe Franchising Team