This page contains a Flash digital edition of a book.
Business & Franchising


What Are The Keys To Franchise Success? M


aking any business reach its full po- tential takes talent. If you’ve selected


your franchise well, your franchisor will be able to help you avoid many of the mis- takes new, independent start-up business- es make.


Here are some keys for fran- chise success.


Make sure you have enough money.


„ Determine how much you have to invest, how much you’re willing to risk and how much you will need to live on for at least 12 months.


„ Make sure you understand the initial investment required.


„ Make a careful and rational decision about buying the franchise. Listen to your attorney and accountant and do not be pressured by the franchise salesperson.


Follow the system.


„ Franchisees often get their business up and running and then begin to change, add or modify existing products, advertising, hours, services, and even the quality and consistency they are licensed to deliver. This violates the franchise agreement and puts you in jeopardy of having your franchise terminated!


„ By following the system, you: - preserve the brand - protect your investment and that of your fellow franchisees


Don’t neglect your family and friends.


„ Be prepared to work long hours, but also make sure to budget time for your family and friends.


„ Don’t forget to acknowledge the sacri- fices your family makes.


„ Allow your family and friends to share in your new life.


Be an enthusiastic franchisee.


„ The success of any business is linked to the level of enthusiasm you bring to the job.


Drink tap water. And before you know it, you can stash away $14,000.


You don’t always have to drink bottled water. A $3 bottle a day x 365 days x 10 years x 6% interest is $14,694. That could be money in your pocket. Small changes today. Big bucks tomorrow. Go to feedthepig.org for free savings tips.


„ Enthusiasm brings a level of exci- tement and energy to the operation that everyone can feel-including your customers and staff.


„ Let your staff in on the fun. Acknow- ledge their good work with recogni- tion or a raise.


Recruit the best and treat them with respect.


Good help is hard to find-great help is essential. 86 www.blackeoejournal.com The Black E.O.E. Journal


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100