“I just wanted to pop a few words to say that I’m really impressed in the way that The Holiday Franchise Company handled my curiosity in the world of travel franchising… I can honestly say that right from the word go. Luke was very professional, upfront, open and honest in the way he wanted the franchise to absolutely be the right financial decision for me, as well as the company.
Unfortunately, due to my own circumstances, my travel franchise journey won’t be getting off the runway for my own best financial interests. However, for anyone lucky enough to get the opportunity to be on board with them, I wish you all the very best, and I don’t doubt that you will be fully supported along the way on your travel franchise journey.”
It feels cruel to quash someone’s dream, but I’d rather that than sell a false one.
Sometimes picking up the phone to someone you don’t know can be a little daunting. Even more so if you feel like you’re going to be ‘sold to’.
Are they just going to say what they think you want to hear? Are they going to do everything they can to get you on board? Are they even going to ask any questions about you?
Jess gave me a call. We had a good conversation about her and our franchise model. I spoke about what we look for in a franchisee, and throughout his conversation, both Jess and I realised that this isn’t the right avenue for her.
It was a shame as it’s something that she’s has been thinking about for a while. I won’t go into the reasons why, but I’m proud of the way that we’re honest with people and won’t just take their money without ‘qualification’.
I do worry though how many people who we don’t get to speak with, do get caught on a wave of excitement, chasing the promised ‘travel gold rush’ only to be out of pocket with a failed business on their hands 12 months later.
There should be more accountability for franchisors when it comes to qualifying franchisees. Deep questions should be asked of the financial stability of the person with a thorough explanation of P&L vs cash flow to help make sure that the potential franchisee has enough capital behind them to sustain the business. Otherwise, it’s likely to be strangled at birth.
Not everybody is going to get it right 100% of the time. As a franchisor, we lay everything out on the table. We highlight the pros and the cons, we talk about the pitfalls, what we’re looking for in a franchisee, what a franchisee needs within them.
Sometimes we can tell that it’s not going to work, and in that case, we’ll let you know. But we always leave the ball in your court, getting you to ask yourself serious questions. For example, only you will know if you’re truly driven. If you didn’t have an employer that is able to see your progress on a project, would your productivity increase or decrease.
Are you self disciplined? If you’re going to be working at home, can you keep yourself focussed on your business instead of getting pulled into watching daytime TV?
Anyway, I wish Jess well in her search for a suitable franchise opportunity. I’m sure she’ll find something that’ll she’ll make a success of.