In many ways, choosing the right franchise opportunity is easier now than ever before.
In less than an hour of searching the web, you can find hundreds of viable franchise opportunities, the financial requirements of these opportunities, and other quantitative performance metrics like customer satisfaction scores, brand reach, and franchisee satisfaction numbers.
You’ll find out whether you potentially qualify for an SBA loan, determine whether you have ready access to startup capital, and peruse the financials of the franchise itself in your franchise disclosure document, where you’ll find out things like average net sales, cost of goods, and average labor figures.
The preliminary stages can make you feel surprisingly confident . . . or overwhelmed and more confused than when you started. How can you use all of this data to your advantage and avoid drowning in it?
Up to this point, we’ve gone over mainly “head” considerations—and the preliminary search for the right franchise opportunity does entail scoping out the industry and finding out the most highly ranked franchises according to leading publications like Entrepreneur and Forbes.
Other, more quantitative, considerations might be considering where franchise financing is going to come from and weighing whether to open one or multiple franchise locations based on performance metrics.
The other—and equally important—side of the coin is more emotional factors. An objectively ideal franchise opportunity that everyone says is just the thing might be subjectively all wrong for you, depending on what your values are, where you find fulfillment, and what work style you bring to the table.
What franchise opportunity is going to bring you the most fulfillment? Are you going to enjoy working with this niche of customer, and will your prospective customers share your values? Do you feel an emotional connection to the franchisor and brand with which you’re potentially signing on? Does this franchise opportunity mesh with your personality and professional skillset?
Even though finding out all of the performance metrics and financial information will form the cornerstone of the beginnings of your franchising journey, the middle and end of the story will likely be determined by how passionate you are about the industry in general and your brick-and-mortar franchise location in particular.
Franchising with Marble Slab Creamery means interacting with your customers on a day-to-day basis and serving up tasty treats like baked-from-scratch signature waffle cones, ice cream delights, delicious pies, brownies, and even customized ice-cream cakes.
Franchising in the baked goods industry is invariably going to mean putting your people skills to the test and ensuring that your work style is compatible with your own preferences and the expectations of the franchisor.
In terms of work styles always in demand within the baked goods and desserts franchising industry, those with a blend of a few work styles (producers, empathizers, implementers, planners, and controllers) tend to achieve the most consistent results and produce the highest customer satisfaction.
While your passion for the industry, attentiveness to customers, and desired work style are obviously important emotional factors to weigh when making the most of your franchising opportunities, these same factors will inform a few more.
Giving a franchising opportunity your all can mean a sizable time and energy commitment right off the bat. Ask yourself how prepared you are to go all in with a baked goods and dessert franchise and whether that decision works for you, your family, and your values.
To learn more about the incredible franchise opportunities available at Marble Slab, visit our website today!
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