If you’re considering business ownership, owning a franchise can be an attractive option. With just a few keystrokes, you can learn of thousands of opportunities. While exciting, it's also overwhelming. Everyone wants you to opt into their form and get your contact information so they can start their sales pitch.
Thoughts may be swirling in your head and you don't know where to start. The result is confusion, which leads to indecision and paralysis.
Franchise consultant Marshall Reddy has been an industry insider for 29 years. He works with people every day that know they want to own a business and are considering their options. He has a defined process to help narrow options to just a few, so you can research them extensively.
“It's true. Franchisors are in business to sell territories. Just the nature of this relationship can be uncomfortable, knowing that everyone you talk to is trying to get in your wallet,” says Reddy.
He works differently. He doesn't ask for a dime from the people that he consults with. His job is to match you with the right opportunity. When successful, he’s compensated by the franchise concept you chose.
“I love working this way because it puts me on the same side of the table of the people I work with.”
His process starts on a macro-level. Many people he works with are ex-corporate executives. While they may not know at this stage what they want, they definitely know what they don't want. He calls them the ‘non-negotiables.’
Reddy wants to know what you loved about your last job and your current life and family situation now. Do you want to stop traveling 4 days per week? That narrows the franchise scope some. Are you tired of managing people? If so, that further rules out some franchise concepts. Are you a natural-born salesperson? Or do you prefer your customers to come to you?
Before long, the thousands of franchise opportunities narrow to hundreds. However, his process doesn't stop there.
He has his clients complete a “Franchise Assessment Profile.” Similar to the DiSC Assessment, it’s a tool designed to help you understand your strengths and weaknesses. We can zero in on a concept and increase your odds of success and happiness as a business owner.
“People work themselves into a corporate career that they just aren’t a great match for all the time. Either the job evolves into one they hate, or it isn't aligned with their personality type to begin with. The result can be mediocre performance or dreading getting out of bed. People become burned out and bitter. That's no way to go through life.
The Franchise Assessment profile is our tool that helps you understand yourself. It’s powered by Neurolinguistics programming and an intelligent algorithm that accurately understand how you process information and where you draw your energy from. It’s our shot to finally align you with a career you were meant to have.”
“When we align the right franchise to your wants, needs, and personality, we unlock your true potential that was never fully realized in the corporate world.”
Reddy encourages clients to take as much time as they need to make a decision. “Part of the process is getting life things in order so that you can make a successful choice. Such as:
- Talking with your spouse so they’re on board with your career move
- Make sure you have the financial resources, not only for the initial investment but also for a comfortable cushion
- Clearing any conflicts you might have with your current employer
- Being healthy enough for the upcoming demands
With so much to think about consultants like Reddy help bring order and process to a complicated decision. There’s a lot at stake. My life’s work is to match the right people with the right business opportunity. When successful, I know I changed someone’s life. That’s what gets me up in the morning and lights my fire.
