The 3 paths are totally different to position a brand, but then, what does this great decision have to do with? in the end it is a matter of person profile and life plan. I know many people who have built a great career in the corporate world and are very happy, if you are one of them I only ask you one thing, be the best Godin and enjoy the journey (What is it to be a Godin? In Mexico, the term Godínez is used to refer to office workers who usually work from 9:00 a.m. to 6:00 p.m. It is also used to refer to a salaried person from a private company).
Starting on your own can be a very seductive idea however it can also be a long and winding road without the proper strategy and preparation. For example, the restaurant is a very seductive business -it is like the jetta, everyone has one in their mind- starting a business on your own requires two important points:
The first is to have the strategic and marketing definition that allows your brand to compete with the big chains. Innovation, a differentiated product, a defined niche and a clear message.
Adequate business preparation since starting on your own will require knowledge of finance marketing, site selection, labor, legal, operations, the specific line of business, you will require knowledge of social media management, delivery, etc.
Benjamin Bernal, a business professional whom I greatly admire in his book Independent Business or Franchise, mentions: “Franchise or do I go it alone? Everyone who owns a franchise has asked this question. Independent businesses are very good, without them there would be no new franchises and franchises are very good because they come from independent businesses. So the decision is yours, see step by step your strengths and weaknesses. Consider that the franchise should make up for those deficiencies you are detecting” Chapter VII.
Do you like to follow the recipe?
Acquiring a franchise is like buying a recipe book, if when preparing one of the recipes in the book you follow the instructions, it is most likely that the result will be as expected; but if, on the contrary, you do not follow the recipe and decide to do things differently, such as omitting ingredients, the result will be very uncertain, it can be a good thing, but it can also be a failure, uncertainty will be the Queen.
When acquiring a franchise, what you are acquiring is a recipe of how to do “that business” with that specific model and they let you know the recipe because it has already been tested in various units in various cities for some time and now it’s your turn. you demonstrate that it works in your store. The question is: if we have already paid and if they have already shown us that it works, why not follow the recipe they have given you? The interesting thing here is to discover why people who pay huge amounts for franchise rights to know the secret recipe of doing that business that gives us this or that franchise, do not follow the recipe! If you’re someone who loves to do things his way and just won’t take advice from others, franchising is not your thing. Franchisors do not give much room for innovations. Are you willing to pay attention to YOUR Franchisor?
If you consider that one of your main qualities is creativity, you can be sure that franchises are definitely not for you, because within a franchise system you will feel suffocated with all the norms, processes, procedures and rules that you will have to follow because A franchise system is created for people who like to follow rules and procedures to succeed with someone else’s idea, not yours!
But the truth is that creativity is not what is regulated within the system, what is really lost is the power of decision. Franchisees have creative ideas, but their creativity must be directed and focused on achieving the results of the entire system and for the benefit of all. As long as you understand how the system works and what are the rules that you must follow, you can put your creativity to work, looking for ways to improve results, improve the performance of your collaborators, motivate, make customers have a better experience and a sin end of activities in which you can put your creativity to work, the operation, administration and direction of any business, even if it is a franchise, require a focused and directed creativity. If you are a potential Da Vinci, do not limit your creativity to a system for the certainty it can offer you, develop your own idea, take risks and seek to be on the other side, maybe after a lot of sweat you will be able to be offering franchises the day of morning.
It is very important that you are convinced that your idea is always the best, and you spend all your time criticizing the franchise system to which you adhered; then it is better for you to start a business on your own. Once inside the franchise system, you will necessarily have to accept the Franchisor’s ideas as valid.
The Franchisor will require you to meet the standards, the tolerance for deviations within a franchise system is lower than in an independent business, the Franchisor will always put its Brand first before overlapping any Franchisee that may affect it with poor performance of the unity, and even more so if that performance begins to be reflected in social networks due to poorly attended customers.
According to the European Business School “…there is no sure answer about which strategy is the best, this will depend on the business model and the philosophy of your company about what you want to achieve. A careful and thoughtful analysis of your personal goals for establishing a business should help you decide on the type of opportunity that is best for you.” https://www.eude.es/blog/undertake-your-business/
If you think that starting on your own is the best thing for you and your family, just remember that competition from brands on the street is brutal and that you should be as prepared as possible since the road is difficult, they fail every day. independent businesses due to lack of accompaniment and coaching of people who have already done so. Here are the 5 causes of business failure in Mexico according to Forbes: 1. Insufficient income to survive, 2. Lack of indicators, 3. Lack of analysis process, 4. Poor planning, 5. Problems in execution. https://www.forbes.com.mx/5-causas-del-fracaso-de- Negocios-en-mexico/
Remember that under the protection of a franchise you will enter a system based on teamwork and joint success where you will have the accompaniment and advice of a brand recognized by the client and a work team that already knows which is the recipe that works. , and that, if you follow it, the risk of going wrong will be less than with an independent business; In the end, we already said it is a matter of profile and life plan.
I have seen countless cases in which even without having started the unit, the Franchisees begin to violate the recipe and question it, I have come to the conclusion that it is a Latino cultural issue. If you are one of those who think that your grandmother’s flan is the best, keep visiting your grandmother on Sundays and forget about franchises.
Your friend the Czar of Franchises says goodbye to you, see you next time. Do not forget to go through my Youtube channel: FRANCHISEZAR.