After spending hours upon hours researching, planning and setting things
up, the last thing you want is to discover that your franchise doesn't
have what it takes to remain up and running. With so much time and money
dedicated to what you hoped would be your professional future, it sure
would be disappointing to be told you're about to go out of business.
But the real question here is why? Why would my franchise fail? While your
business might be growing at an exponential rate right now, there are
several reasons why franchises come crumbling down, according to franchise experts. To
provide a bit more insight into the industry, we've put together a
few of these reasons below:
1. Skill set: When you or members of your team lack the skills needed to excel in the
professional world, it won't be long before things take an unexpected turn.
2. Preparedness: When diving head first into a franchise, you need to be prepared (and willing)
to stick with it. Owning a franchise is a lot easier said than done, so
be sure you understand the commitment that is required on your end from
3. Location: Sometimes the largest or most affordable location is not the right location.
Unless there are potential customers in your region looking for your product
or service, it will be difficult to get people to walk through the door.
4. Support: If the franchisor fails to provide the support franchisees are looking
for, do you think they will be able to stand on their own? Maybe down
the road, but most likely not in the beginning. As a note to potential
franchisees - make sure you seek out a franchise where support from upper
executives is strong and ongoing!
5. Money: Not being able to keep up with the costs of rent, products, employee salaries
and franchise fees will put your promising future far out of reach.
If you're looking to become a leading franchise owner in your industry,
be sure to steer clear of these avoidable mistakes. Prior to signing any
agreements, we suggest using these key areas as a checklist to help you
determine if franchising is the answer for you.
Now, have you determined that you're ready to get started? If you're
in the process of researching franchise opportunities, don't forget
bluefrog Plumbing + Drain. We are the newest national plumbing franchise network and we're already
making a splash! For more information on the opportunities we offer, please
give us a call at 888-490-9850.