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Run A Successful Franchise With Help From Experienced Entrepreneurs Like Chris Gregoris
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For newbie entrepreneurs, deciding between starting a business from scratch AND buying a franchise from entrepreneurs like Chris Gregoris is easy. All they have to do is weigh the amount of work involved in both choices. In this case, a startup business involves more work especially when it comes to legal matters and product marketing.
This is not to say that they will be coasting along with a franchise. For one, they have a contractual obligation to pay ongoing fees or royalties; and second, they have to conform to the standards set by the franchise business owner to ensure brand consistency. Also, owning a franchise does not mean automatic success, so consider the few tips below for a successful franchise venture.
Pick a good product
Franchise opportunities abound these days, but whether the products being offered in these franchises have staying power or not is the 64 million-dollar question. For this reason, you will benefit from conducting a thorough research before making a decision. Go around your community to get good ideas on the kind of products that could work in your location.
Work with an experienced franchiser
These days, not all franchisers are business savvy—some of them merely had the money to start their own franchise business. For this reason, you have to carefully sift through the inexperienced newbies to find established franchisers like Chris Gregoris. If you work with a franchise business owner who doesn't even understand what a business model is, expect to be in a situation where the blind is leading the blind.
Make an effort to improve customer service.
Your staff's training will be handled by a team put together by the franchise business owner, but this doesn't mean that you can't inject a few things into your store's customer service. For instance, you may tell your employees to smile more and be friendlier when they welcome a customer or take their orders while saying the standard spiels. You can even go around the store and ask customers if they need help with anything else — efforts like these can actually go a long way in establishing customer loyalty.
A franchise affords you the benefit of a smoother way to start a business. However, you will still need to do your share to ensure your venture is a success. For more information, visit guides.wsj.com/small-business/franchising/how-to-succeed-as-a-franchisee/.
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