Challenges to owning a Franchise
Whilst owning a franchise has its own lucrative benefits, it also holds various challenges which if faced with care can help you reach the peak level quickly. One challenge many find with franchises is where you realize that you are not your own boss, but your brand is. Take, for example, if your customer wants a beer, you simply cannot serve it because he wants it if your franchise policy does not permit you to do so.
Brand standards are pervasive to every type of business, from uniforms, to how they are worn, and to what kinds of coupons you can redeem and not. You need to acknowledge your tolerance level and look for a system that truly fits in with your level of comfort.
Considering the above, if you adhere to all brand standards and franchise-prescribed processes, it will have an impact on your business. An inconsistency in franchisee could defeat the real purpose behind setting up a franchise unit, be it on from your franchise unit or someone else’s.
Secondly, it is not always healthy to rely heavily on the services of the parent company. As a franchisee, you must be aware of the services guaranteed by the franchisor and be confident about your requirements to bring your business to a success as it is not all down to the franchisor. There can be issues regarding territorial rights that one might come across, which one often neglects to consider in the franchise agreement.
Every franchise business requires a special consideration and must be looked at with the nature of business activity involved, to give your business the best chance of being profitable.