What to Expect in The Franchise Ownership Journey
When you own a franchise, you drive your business to success because you own the business. You have the ability to execute your vision and reap the rewards using a proven business model that can be launched relatively quickly for a low investment. While providing the independence of being a small business owner, franchise ownership also comes with the support and infrastructure of a large corporation.
A franchise designed to be accessible to anyone with the desire to succeed, Fresh Coat Painters offers an opportunity to own a home-based, low investment, low overhead business in a high-growth industry. Becoming a Fresh Coat franchise owner does not require painting experience, rather owners focus on managing and growing their business and leave the painting to the painting professionals they employ.
But what, exactly, should you expect throughout the journey to franchise ownership?
A lot of research - After completing a general search to identify franchises that may be of interest to you, it is time to dig in to learn everything you can about each one. Among the things to consider are your skills, experience, budget, and location. You have to evaluate each franchise on two levels – whether it’s a viable business model in the current market, and whether it’s right for you.
Some resources to consider for your research include:
- The franchise website - In addition to providing general information, you can contact the franchise to let them know you’re interested. They might send you an informational packet or brochure or set up a call with you to tell you more about their opportunity. That way, they’ll be able to directly answer any questions you might have.
- Reputable business magazines and websites - Check for recent write-ups about the company or industry in The Wall Street Journal, Inc., Fortune, Business Insider, and Entrepreneur. Also take a look at franchise-specific sources like Multi-Unit Franchisee Magazine, Franchise Times, or the International Franchise Association website for any new information related to your chosen franchise or industry.
- Current franchise owners - The people who’ll have some of the best info for you are those who’ve already gone through the process themselves. Arrange a meeting with a current franchisee and don’t be afraid to ask questions. You can get contact information for current (and sometimes former) franchisees from the franchisor – this info is often included in the FDD. And now more on that …
A deep review of the FDD - Once you have had the opportunity to discuss the opportunity with the franchisor and you’ve both decided it seems like a mutually beneficial partnership, you’ll fill out an official franchise application or request for communication (RFC). In response, they’ll send you a copy of their Franchise Disclosure Document (FDD), which is packed with information on every facet of the opportunity – which can make it a little overwhelming. You may choose to look it over with an experienced franchise lawyer and a franchise accountant to make sure you’re clear on the details.
Making an investment - Investing in a franchise allows new entrepreneurs the opportunity to jumpstart their businesses by utilizing the franchisor’s infrastructure and roadmap to hit the ground running and scale the business quickly. At Fresh Coat Painters, franchise owners are assured that they will “go into business for yourself, not by yourself.” Each franchise owner is assigned a business coach who walks alongside each franchise owner and provides guidance for all aspects of business ownership.
Launching your business - Once you make the decision to invest in a franchise, it is time to get started. Initial and ongoing training is provided when you become a franchise owner, so you just need leadership skills, a commitment to success, and a willingness to trust the guidance of the franchisor. As a nationally-recognized painting and home services company, Fresh Coat offers franchise owners a proven system, operational and marketing support along the way, and an engaged owner network that allows for collaboration. A turn-key business, a Fresh Coat franchise business can be up and running in about three months which is significantly less than most startups take to get operating.
Ongoing training and support - Owning a franchise allows you to go into business for yourself, but not by yourself. Investing in a franchise allows new entrepreneurs the opportunity to jumpstart their businesses by utilizing the franchisor’s established roadmap. In addition to ongoing operational and marketing support, owning a franchise provides the opportunity to collaborate and network with other franchise owners.
The success of Fresh Coat franchise owners is due to both the proven system and the hard work of the owners, but also to the fact that the painting industry is a $140 billion industry that consistently grows year over year. The fact is that the demand for painting services is there and is growing. That makes now the perfect time to establish your own Fresh Coat franchise.
Explore owning your own business through an investment in a Fresh Coat Painters franchise. Learn about the next steps in this life-changing journey, and let’s get started.