“While franchising’s prevalence in the U.S. economy indicates that franchisees can succeed, hundreds of franchisees fail each year. The most frequent causes: lack of funds, poor people skills, reluctance to follow the formula, a mismatch between franchisee and the business, and poor management. Often, it’s the small stuff that separates winners from losers.” – WSJ.com
Long-time franchise veteran and entrepreneur, Stuart Williams joined us this morning on Franchising & You podcast. Based upon his extensive background working with individuals through various stages of their experience from candidate to franchisee (franchise operator), Stuart presented three key points toward franchisee success:
- Passion for both the business and brand
- People are key to business excellence
- Participation in the brand’s franchise community
Listen to today’s segment HERE.
Learn more about Stuart Williams HERE.