Are New Franchisees Ready to be Successful?

Last week on Franchise Today, Joel Libava (aka The Franchise King) and I discussed an except from Lizette Pirtle’s recent book, Franchise Success: The New Formula. The discussion pertained to whether or not franchisees are ready to be successful and whether or not it’s actually an assumption that is incorrectly made when a new franchisee signs on the dotted line. Further, the excerpt included a passage about an unemployed individual that entered into a franchise agreement, and his subsequent failure as a franchisee. In an attempt to jump-start discussion on this and other factors relating to franchise success and failure, I have posted the excerpt below and encourage all comments and opinions.

Franchise Success: The New Formula
By: Lizette Pirtle
Chapter 3: Readiness (Pgs 59-60)

We can’t assume that when people invest in a franchise they are ready to be successful. We can’t even assume that they were ready to make the investment in the first place. But we do make these assumptions. Yet, action does not necessarily equal readiness. There is much more to the investment decision and the success of franchisees than we have traditionally considered.

William was laid off from a job he enjoyed as the vice president of operations for a manufacturing company. He had unemployed for 6 months and was getting desperate. He had applied for every job available. He had lost self confidence and was becoming increasingly frustrated. He felt pressure from his parents, his wife and his friends who recommended he consider starting a business.

William never considered self-employment before, but the thought of working again and owning his own business became very appealing. The more he thought about owning a business, the more excited he got. He decided to acquire a franchise, and by the time he made this decision he was eager to start and his excitement was almost overpowering.

William was extremely intelligent and had been very successful in his career, but during training he experienced difficulty. He labored through many portions of the program and questioned new concepts with mistrust. Many of the exercises seemed difficult to him.

While his classmates joyfully excelled, William’s mood became somber as the training progressed. Sometimes he became hostile and withdrawn, while at other times he would engage and be open. The franchisor called him aside and offered him the option to leave the training and recoup his investment. William declined.

When he opened his business, William could not make the business go. He fought and resisted many of the marketing activities and, although he was always busy and worked hard, his efforts were fruitless. In spite of his qualifications and the full support of the franchisor, within 6 months of attending training, William closed his business.

Okay, franchise professionals, tell us what you think. How would you have handled this situation? What would you have done differently? How can we prevent these situations from actually happening within franchising?


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Franchise Success: The New Formula

Recently, as I was preparing for the Frantelligence Webinar series with Franchise Business Review, Lizette Pirtle, the author of various blogs including Small Biz Franchise and International Expansion Experts, contacted me to discuss franchise client support, and being able to provide information to her franchise clients. I could immediately tell that she had a definitive passion and desire to help her clients and provide them the resources necessary to continue to build their brands.

franchise success the new formulaSince then, Lizette introduced me to her new blog and book, Franchise Success: The New Formula. Clearly, Lizette is an expert in franchise operations and training at franchisee and franchisor levels. Her more than 20 years franchise experience is expansive covering daily operations, marketing, communications and training. She is passionate about designing franchise operational and training systems that allow franchisees and franchisors achieve the success they seek. With a knack for breaking concepts down and creating efficient and effective processes, Lizette derives tremendous joy in assisting her clients discover and implement their vision. A preview of the book confirmed my thoughts about Lizette’s passion and desire. The book is a definite must-read for anyone in franchising.

Would You Like a Complimentary Copy?

To download a complimentary copy of the book, please click HERE. Once you’re directed to the “Get the Book” page, scroll down to the “Do You Have a Gift Code?” section and look for the “Courtesy of Paul Segreto of franchisEssentials” link. Click the “Download” button and when prompted, type in the case-sensitive Gift Promotion password, “franchisEssentials1” to receive your complimentary copy. All we ask is that once you read the book, please let Lizette know your thoughts, comments, suggestions or stories HERE.

Would you like more than an e-copy? If so, the actual book may be purchased on Amazon.com!


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