It’s helpful. A shortcut to business success? Possibly. But you would have to heavily qualify that.

There are two primary ways to start a new business – either independently or via the franchise route. You can of course buy an existing business, but that wouldn’t be starting a NEW business. We’ve discussed in our previous blog post the benefits of starting a new business within a franchise network. You get to avoid a lot of the mistakes you might otherwise make. You always have someone to turn to when you’re not sure. But this doesn’t take away from your responsibility to put things into action.

A franchise plan alone won’t earn you money. A franchise plan executed badly might not earn you much money. Any franchise plan relies on the franchisee to implement the plan well. If it’s a good plan that should mean following the well defined steps outlined by the franchisor.

So, yes owning a franchise is a shortcut to business success, but only when the franchisee does the hard graft of putting the plan into action. That is a key factor for new franchisees to understand in ANY franchise network. Handing over the initial fee and signing the agreement is not job done. It’s job just started!