There a lot of great success stories of people becoming home-based franchisees and eventually making millions of dollars, but not everyone will find this level of success. Becoming a franchisee can provide you with a lot of advantages You will benefit from brand recognition, a proven business model and operation and marketing support from the franchisor, but the business will still depend on whether you can manage and operate it to its highest potential.
RELATED: TOP HOME BASED FRANCHISES
Fortunately, many of the successful home-based entrepreneurs can provide great lessons that can help new franchisees avoid the common pitfalls and find great success with their businesses. Not every franchise or market is the same, and researching your franchise and your local market is critical to having long-term success, but learning from these three entrepreneurs can help you increase your chance of success.
Jessica Belman — CertaPro Painters
When looking for a home-based franchise, Jessica Belman found a painting franchise, CertaPro Painters, which met all the criteria she was looking for. She reached the $1 million milestone for annual sales in only a few years. Here’s how:
- Prioritize Franchise Support: Belman believes that potential franchisees should take the selection process extremely seriously. She chose CertaPro Painters because she researched the company and saw how much support it provided to its franchisees in marketing, management and other areas.
- Talk to Other Franchisees: Belman also thinks it’s important to research how the other franchisees view the franchisor because this can tell you a lot about how much support is available. If a franchise is really invested in its franchisees and provides adequate resources, your path to success will be much easier.
Mara Hargarther — CruiseOne
In her search for a home-based business, Mara Hargarther found CruiseOne, a travel agency franchise with a good reputation and great resources for franchisees. In less than three years, she has reached over $1 million in annual sales. This is what Hargarther believes:
- Work Efficiently: Hargarther attributes her success to her ability to prioritize and multi-task. When working from your home-based business, you need to become self-motivated. Contrary to popular belief, you will have more work to do than before, not less, and you must be able to stay on task and get your work accomplished in a reasonable time.
- Leverage Brand Reputation: Hargarther also believes that she has benefited from the national name recognition of CruiseOne. Finding a respectable franchise is crucial if you want to be able to quickly grow your business. You can use the business’s reputation to make the most of your first opportunities and contacts, as well as use the franchise’s resources to find leads.
Rick Minten — Proforma
Rick Minten opened his own Proforma franchise and provides printing, publications, promotional materials and more to his business clients. Within five years, he reached over $1 million in annual sales. Minten believes the key to success is:
- Deliver Excellent Customer Service: Minten was able to quickly win over customers by providing them with a higher level of service than they would get from someone who worked in an office. Because he works at home, he’s able to provide emergency support after business hours and seven days a week. Being accessible and responsive to clients can help your home-based business grow extremely quickly.
RELATED: 10 HOME-BASED BUSINESS OPPORTUNITIES YOU SHOULD KNOW
