If you’re interested in becoming a franchise owner, you can expect to spend a lot of time in the “exploration” phase. Before you sign on the dotted line after seeing promising numbers and projections, remember to think about the bigger picture.
From work-life balance and collaborative environments to creative opportunities and community support, there are many non-numerical factors to consider before taking the plunge. Your ideal franchise should not only offer financial rewards, but also complement your desired lifestyle and resonate with your personal values.
Looking Beyond the Money
Choosing a franchise is an exciting step. Many aspiring franchisees are focused on how much they can make from an opportunity—and that’s certainly important! You want your investment to pay off in the long term. However, you should always look beyond the financial bottom line.
It’s crucial to consider factors like work-life balance, personal interests, desired work environment and long-term goals. Paired with financials, these factors will set you up for long-term satisfaction in your franchising career.
Keep in mind that learning about a franchise’s work environment takes a fair amount of due diligence on your part to determine if the franchise brand meets your criteria. If you’re interested in exploring the culture and lifestyle values that drive a franchise system, here are a few places to look:
- Company website. A franchise’s website will provide the basics on their industry, products and business model. This is a great first place to look if you’re not sure if the business appeals to you. Explore their “About Us” section and look for information about company culture, work environment and typical day-to-day activities.
- Franchise consultants and franchising staff. Both external consultants and internal staff from the business’s franchising team are good places to ask questions and gather information. Franchise consultants may have accumulated feedback from a variety of sources. Internal staff are great point-persons for specific questions and can help you determine if you’re a good fit for their model.
- Franchise Disclosure Document (FDD). The FDD holds a wealth of information for you to review about a franchise system. Everything from company history, executive leadership, financials and more.
- Contact existing franchisees. The best people to ask about running a franchise are franchise owners themselves! Ask franchise staff for connections or research owners via professional networks. The franchisor will encourage you to validate their opportunity directly with current or recent owners to get firsthand insights into their experiences with the business.
SpeedPro: A Lifestyle Fit for the Creative Entrepreneur
At SpeedPro, we want to make sure each new Studio owner is successful—and that means finding people who share our values, want to join a collaborative franchise network, and get excited about GREAT.BIG.GRAPHICS. The earning potential for a SpeedPro franchise is promising, but we also offer many lifestyle benefits for entrepreneurs seeking a creative, hands-on business opportunity!
If these ideals apply to you, you might be a great fit:
- B2B hours with limited/no travel. SpeedPro is a B2B business and primarily caters to local clients in a given territory. This gives our franchise owners a predictable schedule and reduces travel requirements compared to other franchise models. You’ll work banker’s hours close to home, allowing you to prioritize personal time and achieve work-life balance.
- Creative and hands-on operation. Studio owners aren’t chained to a desk! SpeedPro gives you the opportunity to engage in the creative aspects of large-format printing and visual communication. Our owners put their design and problem-solving skills to the test every day, tackling new challenges and enjoying fresh, hands-on work.
- Flexibility in product sales and application. Some entrepreneurs aren’t interested in selling a limited number of products off a specified menu. They want creative control and the ability to adapt. At SpeedPro, you’ll have some control over the types of products you offer and how they are used. This allows you to tailor your services to your local market and explore creative solutions that meet you clients’ unique needs.
- Prioritizing relationships over sales. Instead of solely pushing sales figures, SpeedPro emphasizes building strong relationships with clients. Service is a core tenet of our model. We urge Studio owners to develop lasting partnerships that translate into recurring business over time. Uplifting community is equally important, with many of your potential clients being local to the neighborhood. These priorities foster a more collaborative and rewarding work environment.
There are many more things that make SpeedPro stand apart in the world of franchising. Fortunately, we’re just as dedicated to making sure our owners are great fits for our business. The SpeedPro Discovery Process is designed to help you learn about the franchise, help us learn about you and allow everyone to make a well-informed decision on investment.
Interested in our large-format print franchise opportunity? Get started today!