QUESTION: What's the worst part about being a
franchisee?
ANSWER: Most business owners
are, by nature, independent people-they don't like to be told
what to do. As a franchisee, I'm required to follow certain
procedures. It can be difficult, because the franchisor and the
franchisee have their own needs, and at times these needs seem to
be in conflict. While we clearly understand we need each other,
it's sometimes challenging to address issues such as
reinvestment and new store
development. -Higgins
ANSWER: Properly staffing
the franchise, finding and training the right people to service the
customers and keep the business running smoothly. Also, being the
boss, having the "buck stop here," can be both
frustrating and lonely. -Wein
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QUESTION: Should you have started your own business instead
of joining a franchise?
ANSWER: No. The franchise
allowed us to be up and running faster and more effectively earlier
than if we had gone on our own. The beauty of any franchise is that
others have made mistakes and have learned from them; in turn, you
have the benefit of their
lessons. -Murray
ANSWER: No. I started my own
independent business seven years before. Even though that business
was a success, I like having a structure I can call on for advice
and expertise. -Turner
QUESTION: What's the one question someone should ask when
looking for a franchise?
ANSWER: What relationship do
the franchisees have with the franchisor?
-Higgins
ANSWER: How well does this
business fit my personality? -Wein
ANSWER: Is the way this
company does business consistent with my values, work ethic and
business approach? -Murray
ANSWER: What's my
competition? -Turner
QUESTION: What's the one question you didn't ask but
wish you had?
ANSWER: How important is
location and visibility to my success? I ended up relocating my
store after four years in business to the opposite end of my
shopping center-a costly but very worthwhile
move. -Wein
ANSWER: How do I deal with
buying an existing location from another franchisee? I wish I would
have been able to anticipate how the customers would feel about the
transition, how to handle the staff and how to incorporate new
policies. -Ellifritis
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Originally published in the January 2002 issue of Entrepreneur Magazine
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