Wall Streeters have a different perspective on the franchise world. Here are some of their insights:
"Dealing with customers is the same no matter what type of business you have. Some are easy to please, some are more demanding. You have to learn to deal with them all in the proper way."
Aussie Pet Mobile
"Some of my biggest stumbling blocks have been staff. In finance, when you interview people to be an accountant, all that determination and drive and capacity for hard work are a given. When I started franchising, I assumed those were a given, too. But I've gone through three salespeople. The person I have now is a godsend--the key to getting us to where we want to be."
Floor Coverings International
"I communicate differently than other service companies. We actually do what we say. That's expected in the investment world but not expected in the service industry, especially not in a suburb of New Jersey. People are surprised when they get an e-mail or someone calls to makes sure they're happy. That is something that has transferred well."
"I certainly didn't want to do a startup business, many of which I'd encountered in the financial world--you're always torn, making decisions on how to grow and losing flexibility and autonomy. Franchising seemed right for me. I spent a year deciding what franchise company I wanted to join. I learned about the board, I knew what the product could do, and I knew who was behind it."
Jason Daley lives and writes in Madison, Wisconsin. His work regularly appears in Popular Science, Outside and other magazines.