Franchisee Satisfaction: How to Make Sure You Find the Right Fit
Let’s be honest. Not everyone loves their job. But no matter what kind of work you do, you need to have some level of satisfaction, or you won’t be doing it for very long. Successful entrepreneurs know it takes time and dedication to build a profitable business. So, if you’re planning to start a business or buy a franchise, you need to find the right fit.
The Search for Satisfaction
Satisfaction is defined as the fulfilment of wishes, expectations, or needs. It will vary from person to person because we all want different things. The key to satisfaction is managing your expectations. If you’re in the market for a franchise, that means understanding what it will take to own this business and whether that matches up with your priorities.
Determine What’s Important to You
Have you always dreamed of owning a restaurant? Are you an athlete who wants to open a gym to help other people get in shape? Or maybe you’re a retired teacher who thinks they’d be well suited for running a tutoring service. If so, it’s likely that you’ll be satisfied working in those industries.
But, if you’re going into business so you can be your own boss and set your own schedule, you won’t be happy owning a franchise that requires a brick-and-mortar location and set business hours.
Think About How Much Time You Want to Devote to Your Business
Some entrepreneurs want to roll up their sleeves and work alongside their employees. Others prefer to keep their day job, hiring someone else to run their new business. Owner/operator franchises require you to be involved in the day-to-day operations. If a franchise allows absentee owners, sometimes known as executive owners, you’ll operate the business solely as an investment while someone you hire will make the day-to-day decisions. A third type is called semi-absentee ownership. In this model, the owner has a share of the responsibility but continues to devote time to other ventures. When the franchise becomes profitable, a semi-absentee owner may decide to focus solely on this endeavor.
Calculate How Much You Can Invest and How Much You Want to Make
If you overextend yourself by buying a franchise with high fees you can’t afford, you’re less likely to be satisfied. On the other end of the scale, choosing a smaller franchise may be more affordable up front, but it may never earn you the profits you envision. The company’s franchise disclosure document will spell out the costs of getting started, let you know how much capital you’ll need to have on hand, and may give you some idea of how franchisees performed in the last year.
Find Out Which Franchises are the Easiest to Start
If you’ve never owned a business before, it makes sense to find one that will be easy to start. After all, how satisfied will you be if you encounter a lot of problems before you even open your doors? Concrete Craft, the nation’s old decorative concrete franchise, is what’s known as a turnkey franchise. That means it’s pretty much ready to start operations — all you have to do is turn the key. And, because of the nature of the business, it doesn’t require a lot of equipment or inventory.
See How the Company Fosters Franchisee Satisfaction
Your satisfaction should matter as much to the parent company as it does to you, since franchisee satisfaction is essential to the overall success of their brand. Satisfied franchisees are more loyal and more likely to renew their franchise agreements, and/or take on more franchises. They work harder, increasing revenue for themselves as well as the parent company.
Before you decide on a franchise to buy, talk directly to other franchisees to gauge their satisfaction with the company. If the majority are unhappy with the organization, consider that a red flag and take your search elsewhere.
Concrete Craft promotes franchisee satisfaction by building up the confidence of our owners. Our intensive two-week training program includes hands-on training so you can learn to transform concrete using our proprietary staining, stamping, and resurfacing techniques. By the time you open for business, you’ll be an expert in all things Concrete Craft. And if you have questions, or unforeseen problems, we’ve got a support team in place to help you.
Concrete Craft is proud to be ranked on the Franchise Business Review’s annual Top 200 Franchises list. The list highlights the best franchises according to owner satisfaction. The Franchise Business Review compiles the list based on the results of extensive surveys taken by more than 30,000 franchises in more than 300 of the nation’s leading franchisors.
Contact Us Today
Franchising isn’t one-size-fits-all. Different owners expect different things — if they don’t get them, they won’t be satisfied. That’s why it’s important to do your research to determine which franchise is right for you.
To find out more about Concrete Craft and see if you can find satisfaction as one of our franchisees, request more info today.