Starting a franchise can be both the most exciting and challenging time in an individual’s entrepreneurial journey. With countless franchise ownership opportunities, many are left contemplating which will be the best fit for them now—and decades later. If you are an aspiring entrepreneur interested in managing a franchise or a franchisee looking to explore another franchise opportunity, consider these valuable pieces of advice before committing to a franchise business.
Remember The Franchises That You’ve Always Counted On
A key benefit of owning a franchise over a start-up business is having the security of an established brand with a proven business model. When thinking of which ones could be the best for you, think of the franchise businesses that you could count on for your personal or professional needs.
Offering more than 30 years of experience, franchises like The UPS Store can provide you with the strong, professional network and proven brand strength you need for your new franchise business to thrive. Understanding the work that goes into building a business, The UPS Store home office and field staff provide you with valuable tools and resources you may not have with other start-up or small businesses.
Delivering world-class services to local communities, The UPS Store is a franchise to consider, as they are dedicated to solving every problem, no matter how big or small. Focused on finding ways to help communities grow, each The UPS Store franchise continues to offer the expected services of mailing and shipping, while also evolving their offerings to meet the needs of customers through other services, such as printing marketing materials and offering moving supplies. With more than 4,500 locations nationwide, The UPS Store is a franchise that effectively balances the needs of their franchisees and their communities, ultimately leading to business success.
Little-to-No Requirements May Not Be A Dream Come True
While researching the best franchise, you may come across a variety of sales tactics to encourage investment in a franchise business. If you see a franchise for sale, but feel it doesn’t align to your goals and values, a discount now may not be worth it in the future. Statements of “No requirements necessary” and “Own a franchise today” are often false claims that could lead you down the wrong path.
Be sure to look further into the franchise, search for a list of application requirements, and find out if they offer the resources you need to succeed. If you find that the franchise does not provide enough information, or that it does not align with your business goals, you may need to reconsider. Franchises, like The UPS Store, provide an outlined approval process to help you know what to expect—and when to expect it. By having four, clearly defined steps: Inquiry, Application, Funding and Booking, The UPS Store gives a better idea of what the process entails, and when you’ll be ready to take the first step in franchise entrepreneurship.
Research National Rankings & Awards
When narrowing down your franchise choices, look for positive press and recognition. Make time to do a Google search to see what immediately populates in your browser. By seeing the most recent and relevant content, you’ll immediately identify the specific strengths and weaknesses associated with the brand. Ranked #1 in Entrepreneur Magazine’s “Franchise 500” for the Postal and Business Centers category, The UPS Store consistently offers the positive recognition and strong reputation you need on both national and local levels.
Knowing that customer loyalty and top talent are key to business success, customer testimonials and employee stories are another way to get a clear picture of how the brand is viewed on both sides of the business. By seeing how they are perceived, it’ll ensure you’re building a future with a brand that you can trust with your success.
Consider Every Pro & Con
Before making your final decision, consider writing a pros and cons list. Although it may seem unnecessary after doing extensive research, it may help you understand what you value most—and maybe what you can do without. By having a clearly defined list, you can easily form additional questions and contact a franchise representative to get them answered.
This exercise can also give you a glimpse into interactions with the home office. When asking questions, pay close attention to their level of attentiveness. If they’re quick to reply to questions, accommodate your needs, and value your time, they could make a wonderful business partner in the years to come.
Experience It. Then Believe In It.
Think you’ve found the right franchise? Consider experiencing it firsthand. Meet with local franchise owners in your community and stop into locations to see how they’re run. By even incorporating these visits into your usual errands, you will have the chance to see the business from the customer perspective.
If you feel you’d need more than a few visits to come to a decision, consider experiencing it as an employee would. Contact a local store owner about shadowing him for a few days. This will give you the opportunity to talk with the owner, interact with their employees and customers, and form educated opinions through valuable experiences.
Your day-to-day could be, but not limited to, experiencing daily operations, implementing marketing materials, working store hours of operation, and receiving customer feedback. Seeing the internal process, listening to employee perspectives, and understanding expectations from the home office, will give you a glimpse into just how every component works together to build a successful franchise business. After your experience, if you align with the franchise brand and believe in its success, take the next step in committing to a professional change and financial investment by starting an application with The UPS Store home office.
Feel you’re ready for the next step in your entrepreneurial journey? Reach out to The UPS Store home office or a local representative. From there, you can discuss joining the world’s largest franchisor of retail shipping, postal, printing, and business center services.