Finding the Best Franchise: Are You Missing the Gold?
“I wouldn’t want to own a cleaning service,” said one potential franchise owner. “That’s a dirty job.”
This is one example of a comment franchise consultants at FranNet hear about business such as cleaning, trash and home repair services. But the reality is that there are many seemingly unappealing and unknown franchises available that are hidden gems. They are highly profitable and many of them have a significantly lower up-front investment than the more popular and highly-visible franchise industries such as restaurants and retail chains.
“Many people are missing the gold because their perspective is limited,” explained franchise consultant, Kyle DeHaas. “When it comes to businesses like cleaning or home repair services, many people hesitate because they have a tendency to see themselves in the business’s technician role as a house keeper, trash man, etc. It’s a consumer-oriented viewpoint of business rather than a business-owner viewpoint.”
DeHaas said that in many cases this consumer-oriented thinking where the owner tries to do the technician-level work actually limits the success of the business.
“Expertise and involvement at the technician level often hurts business owners because they get too involved in the technical details and fail to sell enough or manage the business well,” said DeHaas. “What they really need to be is a good manager and sales person.”
DeHaas said the key to higher levels of success is a perspective change. They have to make the shift to a business-owner mentality where the business owner doesn’t do the technical work but rather focuses on business growth.
According to DeHaas, another perspective problem that keeps people from considering the most profitable franchise opportunities is their limited knowledge of what a franchise is and the kind of opportunities available.
“Many people think of a franchise as just a store-front operation like a Subway restaurant or an auto repair shop,” said DeHaas. “But there are many franchises available that are far more lucrative and take less investment up front.”
Some of these franchises include delivery, lawn care, party, beauty and business services.
So how do you find out which franchises have the best potential for success? DeHaas recommends starting with a good franchise consultant. While there are a number of franchise consultants available, not all offer the same in-depth consulting services.
“What sets us apart from other consultants is that we take the time to help potential franchise owners understand the scope of what’s available and think about which business model makes the most sense to achieve their personal goals,” said DeHaas. “And, the best news is that we offer this service for free through FranNet.”
To learn more about franchise consultants and how they can help you, check out FranNet Texas Southwest’s recent blog post, What is a Franchise Consultant & How Can They Help?