Now that football season is underway, I find myself using more and more football metaphors when discussing how potential franchisees need to keep their eye on the ball when reviewing franchises. See, there I go again!
In my years of being a franchise consultant, I’ve found that one of the biggest issues that clients face when trying to make a decision on what franchise to pursue is the negative opinions of friends and family, a.k.a. armchair quarterbacks.
My advice? Guard your thoughts.
Let’s go back and review the process that got you to this point. You’ve studied the field, found information about franchise opportunities, visited local franchise outlets and talked to the owners about their experiences owning the franchise, looked at franchise handbooks and worked with a franchise consultant like me.
You’ve read the franchisor’s Franchise Disclosure Document (FDD), know the initial and ongoing costs and explored your potential earnings. When looking up due diligence in the dictionary your picture accompanies the definition.
And then you go to your friend’s house to watch a football game. You’re asked how the franchise process is going, and BANG – it happens. The gang gives you their opinion, bringing their own self-doubts and fears of failure into your story.
Those friends haven’t been part of the discovery process, they haven’t done any due diligence or reviewed the paperwork. DON’T LET THEM BLOW YOUR OPPORTUNITY. Don’t hand off for 4 yards when there’s a possible touchdown in your future.
Use this as a learning experience. As a business owner, you will have days that make you question your choices. But you can’t be a success today if you stay focused on what didn’t go right yesterday.
Vince Lombardi Quotes. “The price of success is hard work, dedication to the job at hand, and the determination that whether we win or lose, we have applied the best of ourselves to the task at hand.”
Now get out there and win one for the Gipper. (OK – I may have overshot with that one.☺)