How To Survive (And Thrive) Your First 3 Months As A Franchisee
1. Clear Your Schedule
Your first three months are going to be busy, not like the normal 9-5 busy, I mean intensive. So prepare yourself for that mentally and allocate your resources effectively and efficiently. Having a proper work/life balance has never been more critical than in this stage. This is where you cut your teeth and the learning curve is the sharpest. You've heard the phrase "You made your bed, now lay in it." well, this is the opportunity to make your bed as comfortable as you can so that way when you get the chance to lie in it, you can do so minimal worry and maximal comfortability.
“The fools in life want things fast and easy- money, success, attention. Boredom is their great enemy and fear. Whatever they manage to get, slips through their hands as fast as it comes in. You, on the other hand, want to outlast your rivals. You are building the foundation for something that can continue to expand." -Curtis Jackson, The 50th Law.
Honest Abe Roofing Franchise, for example, utilizes your own franchisee liaison to help you throughout the process of getting your franchise up and running. They fly down to your location and stay with you for the first week and make sure that you have the utmost confidence and competency when opening your franchise location.
2. Set Realistic Goals
When you come up for training for your new franchisor, you should be doing long term revenue and financial forecasting. This is a great time for you to have an honest conversation with yourself and the franchisor about what numbers you should be hitting and when you should be hitting them in your market. From there, you should break down the numbers into monthly, weekly, and daily goals and KPI's and ensure that your team members are adhering to them.
3. Use Corporate Office As Much As Possible
This is perhaps the most underutilized aspect and the most valuable resource you have in your toolkit as a franchisee. Most franchisees don't fully understand that they have literally a team of people at their fingertips to use that are eager for their success and will give them anything they need within reason to achieve success in their new franchise. You have years of experience of the business that YOU are running. Use that to your advantage.
Here's an example of how adhering to your realistic goals can pay off. Don was at $700K in revenue his first 6 months in business in a brand new market.
4. Meet With Other Franchisees
Knowledge is power right? When you are in a room with like minded individuals, you are going to grow exponentially. Theres an athletic saying that goes "If I'm the fastest guy in my group, I'm going to find a different group" and that should be your mindset. If you're not constantly growing interpersonally and interpersonally, then you are going to start flailing at anything you do, especially in business. Take these first 3 months to connect with other franchisees who have had success in their markets and learn as much as you can from them. This will give you the ammo and mental flex-ability to not only survive, but thrive because you are taking the experience and learning curve from people who have been in your shoes and applying it to your own practices, thus increasing your chances of better and earlier success.
“Fools say that they learn by experience. I prefer to profit by others’ experience.”- Robert Greene, The 48 Laws of Power
Honest Abe Roofing hold two weekly webinars with all the franchisees, Tuesday Hustle, & Franchise Friday, in which all franchisees hop on a webinar and discuss wins, losses, undergo sales training with the CEO, Kevin Newton & The King of Sales himself, Jeffery Gitomer, and collaborate on ideas to grow their franchise collectively.
5. Market, Market, Market
Marketing is pivotal to your success, especially in a new market. Not only are you branding yourself and your business in a place that they have never heard of you before (if you are bringing something novel to the marketplace) but you are also garnering attention and increasing your value so customers will not only want to buy from you, but think of you first when they need to buy a product that is in your wheelhouse. This is where marketing and advertising becomes your driver on the golf course of business. It will drive people to you and your sales team will putt the sale in, closing with grace and precision. As a franchisee, you have the benefit (most of the time) to have some marketing materials at your disposal that are branded and will draw attention to your customers. But you're going to need to do some marketing yourself. Make your customers do the marketing for you. Car dealerships are great at this, and it proves that it works simply because if a referral is coming from someone a person knows and trusts, they are going to come to you for their service. Honest Abe Roofing has an award winning marketing team that, just like the franchise liaison, will be with you from day 1 and customize your marketing campaign specifically for you, which not a lot of franchises do.
6. Keep Calm, And Franchise On
Starting any new business can be overwhelming, but it shouldn't be. You should have fun doing it. Have an honest discussion with your family and make sure that this is the right move for you. Know that you have the experience and knowledge in your back pocket to become successful in your new endeavor!
Every franchisee in has been through the same process and with time, enthusiasm and determination to succeed, you will do.
If you would like to learn more about the opportunities Honest Abe Roofing, get in contact with the new franchising team today.