How to Choose the Right Franchise Opportunity
It’s possible to spend your whole life stuck on a train called corporate America, or a train called blue collar, or maybe one called American dream; you keep thinking about how you’ll escape one day, how amazing it will be to break free from some preconceived notion of “who you’re supposed to be…” You think about what it would feel like to take back control of your life, gain financial independence, create a future for your family, finally start playing golf, learn how to fix a slice, and even make a positive impact on the world.
It’s a nice fantasy.
Think for a moment…does this sound familiar? If not, what is your fantasy? Who do you want to be? What do you want to do? And, when are you planning on making it a reality?
You’re reading this, so it’s fair to assume that you’re at least considering the possibility of franchising, or starting your own business.
How do you choose the right franchise business opportunity?
I’m not here to tell you what you should or shouldn’t believe, and I’m not going to sell HUMAN as your best option. I don’t know if HUMAN is the right franchise opportunity for you…and I don’t know if you are the right fit for a HUMAN healthy franchise. I do know that, before starting any long term business relationship (or any relationship for that matter), it’s necessary for each partner to understand the values, goals, and ambitions of the other. It’s not about finding a franchise with the “right” qualities, it’s about finding the franchise (or business opportunity, product, etc.) with the qualities that fit you.
There are hundreds of different franchise opportunities out there, and there are a lot of factors to consider with each of them. Here are a couple questions to get you thinking.
How does their business operate?
“Ideas are commodity. Execution of them is not.” —Michael Dell, Dell chairman and CEO
Liking the basic values of a company is a great sign, but if the operational aspects are not align with what you’re looking for, you might have a problem. What products and services do they provide? Is it a self-standing business, or are there movable parts? Is there a lot of support, or more freedom? Will you need to make important decisions, or will you be given a detailed road map?
Example: HUMAN is a nutritional distribution platform that uses healthy vending machines, healthy micro markets, and direct snack distribution programs to bring healthier foods and drinks to people across the nation. What do you think about owning a franchise with multiple units, each placed into a different school, hospital, or company?
Who are they & what drives them?
“The fastest way to change yourself is to hang out with people who are already the way you want to be.” —Reid Hoffman, LinkedIn co-founder
Discover who you’re jumping into bed with, and decide if that’s the person you really want to be with—what kind of people are they? What kind of values do they embody? What drives them?
Example: HUMAN is made up of many different types of people, but largely we attract franchisees who are driven to lead, and hope to place a positive impact on the world around us. Many of us are self-proclaimed entrepreneurial spirits, “honey badgers,” and idealists — we’re dreamers who think anything is possible with hard work and determinism. We crave challenges, take calculated risks, but we fearlessly push the boundaries, because we’re genuinely passionate about solving the problems HUMAN seeks to solve. Does this sound like you?
What’s their mission now & for the future?
“Entrepreneur is someone who has a vision for something and a want to create.” —David Karp, Tumblr founder and CEO
When purchasing a franchise, you’re aligning yourself with the ideology and the vision of the company. Are you passionate about the company’s vision? Will their platform help you to create the future you want for yourself, and your family? Can you grow alongside the company?
Example: The HUMAN mission is to help unite mankind and nutrition. Our goal is to bring healthy food into every business, school, and place of leisure in the world. We want to completely change how the world eats, how the world feels, and in doing so we hope to play a huge part in eradicating obesity related health issues. Are you excited about the idea of making people healthy?
How do you know it’s the right fit?
“When you find an idea that you just can’t stop thinking about, that’s probably a good one to pursue.” —Josh James, Omniture CEO
When all is said and done, you’ll know when you’ve found a business that’s right for you. The basics of the business model will align with what your looking for and the investment will make sense. At a deeper level, you’ll know that you’re values and personality are aligned, the mission will excite you, and you won’t be able to stop thinking about it. That’s when you’ll know.
“Don’t worry about failure; you only have to be right once.” —Drew Houston, Dropbox founder and CEO
If you like what read, and you’d like to continue exploring the Vending Machine Business Opportunities, click here!
- How to Choose the Right Franchise Opportunity - March 6, 2015
- Top 5 Healthy Vending Machine Snack Questions You Need Answered - February 26, 2015
- Trending Alert: Healthy Vending 3.0 - February 19, 2015
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