Consider the steaks (b)raised! A more realistic but less dramatic title would have been "The 5 Costly Indiscretions of Franchise Selection" but let's be real, that sounds like someone spent a bit too much time thumbing through the thesaurus. If you're looking to open a franchise, while it should absolutely not be life and death, these are definitely some big oh-no-no's to keep in mind.
Naivety: Failure to Research
First and foremost, it's important that you research the franchise thoroughly before signing on the dotted line. Look at the business model—are operations easy? (They are at Loaded Pierogi). How are their margins? (At LP they're pretty great). Who is their target market? (Anyone who likes food). Do your values align? (Loaded operates with a foundational "pay it forward" mentality and is proud to help its family grow).
Arrogance: Failure to follow the Franchisor's System
Just because things are going well doesn't mean you have it all figured out, kid. Veer from the path provided by your franchisor and you may find yourself on thin ice, or in quicksand, or in too deep, or [insert place you'd probably rather not be]. Loaded Pierogi is a first-to-market concept with a simple day-to-day operational system that allows its franchisees to have guidance from the pros and freedom to be themselves.
Stubbornness: Failure to Utilize Franchisor Support
Take the help that's offered, friend! The biggest benefit of launching a business as a franchisee is the support you're getting from the startup process all the way through regular operations; you get to have your pierogi and eat it, too. The team at Loaded Pierogi is committed to offering the best support for their partners' success—Loaded believes with the right attitude anyone can own their own branch!
Snoozefest: Failure to Engage
If you want a fulfilling career that also generates good income, then you gotta act like it. Your attitude determines everything about how your business runs, and can even make or break a franchise. So put yourself out there! Engage with your franchisors, your staff, your customers, and your local community. Loaded Pierogi considers its franchisees part of the family, and operates on a foundation of accessibility, approachability, and support.
Stick-in-the-mud: Failure to Develop Yourself and Others
Real talk, as a business owner you are a leader. You have the opportunity and responsibility to promote your employees' growth while also being sure to continue your own development and your business’s progress. The whole ethos of Loaded Pierogi is about connection, collaboration, innovation, and fostering growth so that everybody can enjoy success!
While these transgressions aren't deadly, they're actions that can add up fast in an equation that'll haunt you, so plan accordingly. And if you're looking for a franchise with a practical business model and personal connection-driven fit, check out franchise opportunities with Loaded Pierogi!