Life comes with many hesitations, especially when it comes to major personal decisions. We hesitate when it comes to moving to another city or country, starting a new job, or even buying a house. Hesitation is a normal part of the decision-making process, and it helps our brains stop and analyze all the facts of the situation, before we wade in.
However, hesitation can also become chronic, and lead to doubt. That goes double for risky endeavors, including those in the business world. Would-be franchisees know that investing in a franchise location is no small thing. That being said, hesitation could also lead to indecision, and cost the prospective entrepreneur a huge opportunity. Let’s examine the various forms of hesitation surrounding the purchase of a franchise, and how you can overcome them to solidify your financial future, and your career.
FINANCIAL HESITATION
This is by far the most common and understandable form of hesitation when it comes to buying a franchise. Even if you have a large sum of cash in search of the right investment, parting with it can still be a daunting affair. Any business comes with inherent risks, as well as incidents like slow periods and off seasons, but that’s no reason to sit it out.
When in doubt, look at the tens of thousands of franchise owners all across North America (and the world writ large) who have already made their fortunes. Most of them started with just one location, a chunk of cash to get the ball rolling, and some hard work to make the franchise profitable. From there, they expanded outwards into new territories. The best way to get over financial hesitation is to examine the franchise you’re buying, and see the trajectory of its own track record. Successful franchises have an entire team willing to back you up for mutual benefit, which means that cash investment suddenly becomes easier to let go of.
LISTENING TO NAYSAYERS
Every single human being has dreams, but sometimes they can be quashed by negative individuals who simply don’t want to see you succeed. Either that, or they’ve become so used to complacency and a sense of failure that they think it’s impossible for anyone else to score a win. When buying a franchise, you may encounter these people in your social circle, or even your own family. While many of them are undoubtedly looking out for your well being, the simple fact is that they have their own lives to run, and have no business meddling in yours. Getting a second opinion or devil’s advocate-style advice can sometimes be a good thing, but it’s often best to trust your own instincts, and not let others influence your decisions. Finally, remember that franchise opportunities have expanded, not contracted. With so many opportunities out there for financial growth and self-satisfaction, why back out and let someone else scoop up the opportunity?
SELF-DOUBT
We are our own worst critics, and it’s not close. The entire world could be on our side, but if we don’t believe in ourselves, it means absolutely nothing. First-time franchisees often feel overwhelmed by the prospect, especially if they have no prior business experience. They may feel inadequate, incompetent, or even worse… unworthy.
Nobody deserves to feel that way, and that means there are times when you must ignore the negativity coming from your own mind, and double down on your self-confidence. Oftentimes, this is something that needs to be learned and practiced on a consistent basis. Forget the self-help gurus and the life coaches, and instead focus on who you are, what your strengths are, and why you wanted to become a franchisee in the first place.
Remember, nobody ever started out in life as an expert on anything. The most famous CEOs and billionaires in history often share stories of starting out in low-paying, humble positions, only to put their nose to the grindstone and become enormously successful. All it takes is a willingness to learn quickly, and the ability to adapt and change. If you believe that your success is something you can reach out and seize for yourself, you’ll be one step closer towards achieving your dream.
YOU’RE NOT ALONE
Becoming a franchisee is not like starting a new business from scratch, and that’s the entire point. Franchisees have an entire corporate team standing behind them, ready to assist, and they’ve already taken care of a lot of the legwork. When it comes to things like market trends, menu items and branding guidelines, franchisees are already ten steps ahead. There’s no need to build up a reputation from scratch.
Rather, franchises come with a brand identity already attached, and all the traits that have been proven to generate success for countless other franchisees across the nation. Why be in doubt when you’re backed by a powerhouse team with a shared interest in making your franchise location a winner?
Becoming a franchisee is an exciting thing, and it’s a great way to gain solid life experience, while learning how to adapt and thrive in a very lucrative (and growing) market. St. Louis Wings has been working closely with our franchisees for years, and we love what we do. If you’d like to become part of our amazingly successful franchisee team, now’s the time to reach out to us, so we can get you on a path to your financial dreams.
