Franchise Article

As anyone with a sensible business mindset will agree, one of the most critical aspects to a successful business opportunity is having a good network of referrals and business contacts. In the business world it is partially what you know, but it’s also true that it’s who you know that really helps launch a successful business. One of the business franchises that is becoming a successful and profitable small business is networking and referral franchises that allow busy professionals to connect and make important businesses contacts. Business for Breakfast was spotlighted as one of those networking franchise opportunities that not only provides networking ability but also had a franchise owner available to share some insight into what Business for Breakfast does, and franchising in general.  Below are a few answers from a Business for Breakfast franchise owner who was asked about owning a home-based franchise.

Q. What are the best aspects of owning a Business for Breakfast franchise?

The best aspect of the B-for-B is the fact that the franchisee is never short of expert advice. With many business opportunities there is a lot to know and a lot to do, with a franchise opportunity there is a lot to do and learn, but there is always a support system there to assist you and help you build your business along the way. Specifically to B-for-B, the clients and customers that network through your small business are not just customers but become business network contacts for your business as well making the franchisee a customer of their own product as well.

Q. What were the biggest surprises with owning a franchise?

A lot of people buying a franchise think it is a license to print money that they will not have to work hard at all. This is a myth and without putting 100% into your franchise you cannot expect a decent return. Running a franchise can still fail if the franchisee is not prepared to give themselves enough fighting chance to win new business. We recommend 6-15 months of continuous activity and genuine full time hard work before a B-for-B franchise begins to produce a sustainable source of income.

Q. What are some of the challenges?

Challenges include finding the right people to work with, especially in the initial stages of a networking and referral business knowing that your initial network and referrals are going to be quality connections that cause your clients to see the immediate benefits of your franchise service. Finding someone that you enjoy to work with and connect through is becoming more and more difficult, but it is also the primary thing you need to have when you are looking at a business for sale.

Q. What are the words of wisdom you would share with a new franchise owner?

Buying a franchise is definitely the quicker and more cost effective way to start a new business opportunity. When you are looking for a franchise make sure that you consider one that includes a good marketing strategy to get your business up and running. Consider the ones that have invested enough to make sure that every eventuality of running your franchise is covered legally, consider the one you think you can work with. Products and services can always be learned, but people and relationships rarely change so make sure that you are working with someone that you want to work with for years to come. Running your own business is hard work, but it is a privilege that is one of the most satisfying and fulfilling things in the business world.