Pushing Past Fear – Taking the Leap Toward Franchise Ownership

As President Franklin D. Roosevelt proclaimed in his first inaugural address: “…let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance.”

Think about that quote for a minute. Not only can it apply to your challenging decision to take the leap toward franchise ownership; it also reinforces that you are not the only one who has ever harbored any negative thoughts.

It is normal to have some self-doubt, otherwise you would not be human. Think of the Super Bowl football heroes who say that they have had butterflys in their stomachs before the game of their lives—and then went on to victory and stardom.

Make no mistake about it: franchising is a major life decision. What should override all other aspects of this assessment is that you have a dream—a goal of being a business owner, the head of your own company, a better lifestyle for you and your family. If you can envision it, however, more than likely, you can achieve it.

On the other hand, people can be true visionaries…while others act as Pollyanas. Which are you? Consider these important factors in your thought process:

• What is your motivation? Escaping a bad employer, had a job loss, or truly self-motivated?
• Do you have a plan? Where will you find the financial resources?
• Are you willing to roll up your sleeves and pitch in?
• How well are your people skills and ability to deal with the public?
• What is your business background? Your overall strengths and weaknesses?

These points are not mentioned to discourage you from becoming a franchisee, but rather to help you start an authentic self-assessment. Still, for many, these represent questions that you may not have had to consider in the past, and an objective gut-check is not always easy to do.

That is why you need a mentor to help you through the franchising maze that encompasses self- awareness, financing, multiple franchise choices, personnel selection, plus legal and compliance issues, to name just a few hurdles. All of these elements you need to seriously consider, even before you sign on the dotted line, which itself can be somewhat nerve-wracking.