6 Common Mistakes to Avoid When Joining a New Franchise

Introduction

Joining a franchise allows entrepreneurs to join an established brand with a good reputation along with an established operating system which gives people a great head start over starting a business from scratch with the added benefit of training, proven success and ongoing mentoring with a franchisor. But like any new business venture, challenges can arise and mistakes can be made. We have gathered some common mistakes and advise how to avoid them in your new franchise endeavour.

Underestimating the Financial Commitment

First and foremost, you will need to know exactly how you are planning to make the financial investment that a franchise requires. This should account for more than just the initial franchising fee. You should know how much you can invest before looking deeper into any franchise options. This mistake is closely followed by rushing into a decision without prior research. When looking into franchise options make sure you are receiving the full breakdown of costs of everything that is included as you may be initially presented with a price that only covers the franchise fee instead of the total costs. Be sure to have a strong knowledge of the financial commitment required and develop a business plan that includes realistic revenue projections and cost estimates.

Before you commit to joining The Cat Butler as a new franchisee, we ensure you are fully aware of all start-up costs, you won't find any hidden charges or unexpected costs further down the line. 

Rushing In

An easy mistake to make when joining a new franchise is rushing into the decision. You get swept up in the excitement of your new adventure. Becoming a franchisee requires a lot of time and effort to find the right business for you. You need to do your research thoroughly and consider certain factors for each franchise, such as the track record of the business and franchisor, fees and ongoing costs, you will need to know exactly how much support and training you will be receiving from your franchisor.

At The Cat Butler we understand the excitement a new venture can bring, we do not rush our potential franchisees into an investment as we know it is a big commitment and should be carefully considered. We do however get your new business up and running quickly, giving you the potential to start generating earnings immediately. 

Lack of knowledge of the Agreement

Your franchise agreement is the legally binding contract of yourself to the business, outlining yours and the franchisors rights and responsibilities. This document covers the guidelines that you as the franchisee must legally follow when operating the business. It is imperative that you understand exactly what you are agreeing to, make sure to read the document carefully, seeking legal advice, if necessary, there are companies that specialise in franchising, so that you are aware of the terms and conditions, franchise fees, royalties and any termination clauses. A lack of knowledge could lead you to potentially breach your agreement, not even being aware you are doing it.

Failure To Research

The competitive landscape is very important when it comes to starting a new business. Before you agree to your new franchise, you should make sure to thoroughly research the competition, this includes other franchises along with other businesses and get an idea of their strengths and weaknesses and how many are operating in your area. This will mean you are much better placed to develop a unique value proposition and strategy to set you apart from the competition.

Expecting Immediate Success

You may be entering the sector from a different background and have little or no experience at all, so you can’t expect to be a success right off the bat. This is why franchisors provide extensive ongoing training, support and guidance. You will need to build your client base and serve them well to become successful. You will also need to be the one who markets your business, if you expect instant success without the hard work and effort, you could risk neglecting the importance of marketing and networking which is a vital part of growing your business.

Here at the Cat Butler we provide you with the tools to guarantee success. Which includes a comprehensive induction programme covering all aspects of running a Cat Butler franchise business, a professional PR launch in your area and a three-month business launch marketing programme including 1st page Google listing. 

Failing to Speak with Current Franchisees

Speaking with the existing and former franchisees will help you to gain a better idea of the business as a whole. Other franchisees can be an excellent way to find out about the systems, the franchisor and the business. It is a good idea to keep in touch with other franchisees in the other areas to find out what works and what doesn’t in the business going forward.

The Cat Butler Franchise

If you would like more information on becoming a franchisee with the Cat Butler, fill in our short form below to request a brochure and learn more about our unique cat sitting franchise opportunity.

Our franchise brochure gives you plenty of industry insights and, in particular, a useful comparison between joining a franchise or going it alone.

Sandra James

Owner & Founder

The Cat Butler was set up by Sandra James in recognition of the fact that a stay in the cattery can be extremely distressing and unsettling for most cats and also their owners.