Choosing the Right Franchise

Future Franchisees, Do You Shoot from the Hip?

Are you the plan-ahead kind? Do you like to know just what is coming up and when? Or are you the kind who likes surprises — the fly by the seat of your pants, shoot from the hip type?

There are franchise business opportunities for both kinds of people.

In fact, the whole idea of  franchise can really appeal to the plan-ahead kind of businessperson. By its nature, a franchise is more predictable than an independent start-up. You’ll be working with proven systems, with support from people who’ve done the same thing you’re doing and succeeded.

Some franchises are more predictable than others.

One such franchise is Property Management Inc., a property management franchises that focuses on managing rentals. This franchise provides franchisees with to do lists of tasks for daily, weekly, and monthly steps and provide a step-by-step roadmap from the day after you sign your franchise agreement. This style of franchise business provides strict guidance on how to start your business right and work towards success. For the type A personality who loves to check things off lists and receive that style of guidance, this is a perfect franchise.

On the other end of the spectrum is the business owner who likes to shoot from the hip a bit and do things as they see fit. Does this personality fit into franchises? It depends on the franchise. For a franchise like Property Management, Inc., which is based on to do lists and check lists, a person who bucks strict adherence to the step order might not be the ideal owner. Other franchises that allow more flexibility, however, might be a much better fit than an independent business. Just because you don’t like to do things the same way as someone else does that mean there’s no room for you in franchising.

One franchise that can satisfy the tastes of the shoot from the hip businessperson is TapSnap, a photo booth business. You can work just on evenings and weekends, or go full time. Specialize in parties or branch out to trade shows and other corporate events. What’s more, the low initial investment and short lead time mean you can have your franchise up and running in about six weeks — very close to instant gratification. A central call center takes care of bookings and there’s a national marketing program, so much of the day to day detail is covered — but franchisees aren’t limited.

Franchises run the gamut of business models and pairing your personality and needs to the right style of management is part of finding the right franchise. Franchisors can sometimes act like managers who oversee the brand and business to make sure that everything is exactly the same from franchise to franchise. This is common in the restaurant business where franchisors do everything with contract terms and rules, from setting prices to determining the profit margins. Other industries and franchises simply provide the franchisees with their brand and business model and let franchisees run the back end of the business as they see fit.

No matter what your style, there’s a franchise opportunity on the market that fits your needs and desires. Our Bulls Eye Tool lets you look at a wide range of options sorted by geography, investment level, and industry.

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