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Entrepreneur: The 3 Biggest Lessons in Franchising, According to the Industry’s Top Podcasters
Experts share the common mistakes and lessons they have learned from having conversations with the franchising’s top players.
Franchise podcasters have their own experiences to talk about in the industry while they interview and continue to learn from other experts on the mic. According to a recent Entrepreneur article, Tom Scarda, John P. Hayes and Paul Segreto are speaking with the best minds in franchising and their conversations can be nailed down to a few top lessons.
The first lesson is to consider the market you are opening your franchise in, and not just the uniqueness of your concept. Getting people to change their habits for a brand-new concept is tough, and having an awesome marketing plan and budget to back it up is definitely key to getting the word out and bringing in new customers to your franchise.
Another lesson many franchisors learn too late in the game is perfecting the systems, product and service you are offering is necessary before you start selling franchises left and right. You can grow the amount of locations, but if the product isn’t impressing your customers, or customer service is lacking across the board, your new locations will fail before they are even open.
