Should I Franchise My Business? Temptations Abound
Franchising a Business & Greek Mythology Go Together. A Lesson To Heed.
Remember Homer’s Odyssey, ‘Songs of the Sirens,’ from high school or college? The Sirens were mythological creatures, that enticed sailors to their destruction. These womanly visions beckoned sailors to their rocky coast where upon they smashed and sank. A story of temptation and desire as old as time.
Those sailors wanted to go ashore very badly. They saw what seemed to be an opportunity, they rushed in and they perished. The story is of temptation and irrational behavior, and it pertains directly to franchising a business.
When a business owner starts asking themselves “Should I franchise my business?”, you can bet the Sirens are going to sing and the temptations are going to be strong. Here you’ll find a reality check. If you’re wondering about franchising a business, keep a cool head.
Entrepreneurial Success Prior To Franchising
Successful businesses are brought to life by smart, hard working entrepreneurs. Without the entrepreneur’s blood, sweat and tears, the business would not have succeeded. The entrepreneur feels a deep sense of satisfaction and their competitive nature doesn’t quit when success is achieved. They keep moving forward, or at least want to.
For many, a tune begins to play that goes something like this: “I’ve figured out how to make a success of this business. I’ve done what others have failed to do. I know how to avoid failure and I can show others the way. Hey, I think I should franchise my business.” The seed is planted, and now it only waits to be watered.
Vanity And Temptation
Our Greek sailors heard the Sirens calling and understood exactly what they were offering. As mortals, they wanted those women. The thought of pleasure ruled over reason. The allure of franchising a business is not one bit different. Desire trumps reason and disaster has an opening. Franchisor failure is not an uncommon occurrence.
Tough minded, successful entrepreneurs are just as open to temptation as the Greek sailors. Once the seed of franchising is planted, it waits to be germinated and that’s when the sirens show up. Who are the franchise sirens? Customers, relatives, friends, a bookkeeper or the banker. Someone is going to say: “What a great business you have! You should to franchise it.” Boom, lightning strikes and thought appears.
Franchisor Caution Flags
To understand the well-wisher’s role is to understand they are usually a temptation and a distraction to the real work of analyzing whether or not franchising is a good idea. Know that most of all, they can do a lot of damage. They motivate owners to take risks while taking none themselves. A casual comment from a customer like “you ought to franchise your restaurant” echoes over and over again in the owner’s mind.
The Most Powerful Temptation
The friend or customer who encourages franchising suggests they might be a franchisee. The owner’s imagination is engaged. They begin seeing new franchise locations driving home, ‘just in case’. Don’t laugh. Franchising is addictive.
Temptation can numb one’s clear thinking. Now real danger can show up in the form of franchise development consultants. They’re the ones with the power to catapult the entrepreneur headlong into uncontrolled flight.
Encouragement from a franchise consultant plus an entrepreneur’s excitement is a force of nature. The experienced consultant is beyond powerful in this scenario because they represent expertise, authority and living proof that franchising can become a reality. ‘Certainly this consultant knows I’m on the right road.’ Yeah, right, the road to failure if an objectivity kick in.
Understanding how to franchise a business is secondary to the title at the top of this page: ‘Should I franchise my business?’ The hype and salesmanship brought on by most franchise consultants is far more powerful than the customer, friend, or banker. And it’s far more dangerous. The franchise consultant, really has the power to start the engine.
“Franchise My Business” is a hypnotizing statement
Franchise consultants are not necessarily the enemy, but if they offer encouragement to go forward without complete investigation, then they are the enemy. And even then, it’s not a consultant’s to encourage such a decision. Only YOU should make that decision based on facts not emotion.
In the end, the savvy business owner needs to do what the smart Greek ship’s master decided. He lashed himself to the mast so he couldn’t act on temptation. He sailed past danger. A true feasibility study, not a sales pitch, is the course to better decision making.