According to Franchise Help article: https://www.franchisehelp.com/franchisee-resource-center/5-reasons-why-franchisees-fail/ the number one reason franchisee’s fail is:
“It can be difficult for a franchisee lacking the required business skills to successfully operate the franchise.”
Buying a Franchise business is a great opportunity however franchisor and franchisees need to figure out how to ensure the new franchise owner has Business skills to run a business. No matter how strong the franchisor system, methodology and Operating manual is, all Franchisor’s lack training and educating the new franchisee in Business skills.
This is validated in Michael Gerber’s book: “The E-Myth Revisited” where he states: “If you understand the technical work of a business, you understand a business that does that Technical work.” Basically because one knows plumbing one thinks they can run a business that does plumbing!
If Franchisors want to sell more and have more successful franchisee I suggest they add a way to teach them business skills so they can implement the franchisor’s system, methods and manual.
Are you ready Franchisor? Can Focal Point Business Coaching of Pennsylvania be this Business Coach for your Franchisees?
Let’s talk: 1.610.768.7774