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Something new or something familiar?

With over 600 systems covering just about every conceivable business service and function, choosing a franchise business can be a daunting task for most people.

A common approach has been for potential franchisee entrepreneurs to create their short-list based on an industry or category that interests them, or which they believe will provide them the financial returns and lifestyle they desire.

There is nothing wrong with this approach and it is a good start, as enjoying what you do so very important. One of the main drivers as to why people do what they do is how does it make them feel?

Owning your own franchise business is after all not just another job, it’s an extension of you and the lifestyle you have chosen to enjoy.

The past 18 months or so has seen a greater focus on this and it will continue on as we move forward in a world with Covid.

If you are reading this, then you probably have an interest in exploring franchising and perhaps have started thinking about what might suit you and your lifestyle. As you start down this path there are a couple of preliminary questions to consider:

  • What do you enjoy doing about what you are currently doing and on the flipside what do you not enjoy in what you are currently doing? Many people fail to delve down into this and find it difficult to pinpoint but it is an important area to cover off.
  • What current skillset do you have? You might have a qualification in a specific area – is this relevant to what makes you happy? Do you enjoy the work associated with your qualification?

So, perhaps the fact that you have a qualification demonstrates that you are coachable, trainable, and tenacious to see things through. Are you brave enough to try something new utilising the core skills you already have? What transferable skills do you have ie are you a person who thrives on customer interaction, managing people, or are you a dab hand at working with tools?

To have a successful franchised hair salon does not necessarily require you to be a trained hair stylist, you would, however, require good business management skills

Do you enjoy the outdoors or prefer to work in an office type environment?

Are you someone who needs variety in their work, or do you prefer to have a set routine?

Enjoying what you do is so very important, having the precise skillset for a specific franchise business is less important as long as you have transferable skills.

For example, to have a successful franchised hair salon does not necessarily require you to be a trained hair stylist, you would, however, require good business management skills as at the end of the day you are responsible for the growth and success of the business overall not just cutting hair.

Being coachable and able to follow a system is fundamental, enjoying what you actually do day to day is critical.

Everyone has a unique skillset, it just comes down to being able to identify this and perhaps try something new. Taking the leap does take bravery but is so very, very rewarding.

Read: The less appreciated approach to making money in franchising

Nathan Bonney
Director of Iridium Partners. He can be reached at nathan@iridium.net.nz or 0275-393-022

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