I just spoke with a professional who came to me with one franchise already picked out.
He'd done his research, talked to owners, and watched the videos.
There was just one problem. It wasn't even close to the best fit for him.
He came to me with a quick-serve restaurant concept already locked in. Like most people, franchising to him meant names like Chick-Fil-A, McDonald's, or Subway. Names he already knew, already trusted, already saw on every corner.
I asked him what it was that he liked about this concept. Mostly it was the food. When we got into the details of what it would actually take to run this business, however, he found that the time commitment, budget, and break-even point were not a fit for him.
Instead, I helped him get a good handle on what his goals really were.
What did he want his life to look like?
How much could he reasonably finance given his lifestyle, savings, and assets?
Then we backed up and I took him through all 37 different franchise categories that we represent – everything from advertising to vending machines.
He quickly realized that there were concepts out there that could be a much better fit than a QSR.
I put together a presentation for him based on this new information. Some familiar concepts. Some he'd never seen before.
Halfway through the call, something shifted.
3 brands stopped him… he leaned in with more curiosity and interest.
These were not anything related to a QSR. Not anything close to what he'd originally fixated on.
He said it himself:
"I like that they're new. I think there's a first-mover advantage here, whether at the franchise level or the local business level."
That's the moment I live for.
Because he'd spent months narrowing his thinking to one option, and it was the option almost everyone starts with.
Here's what most people don't realize about QSRs going in:
The build-out costs run high.
The margins run thin.
The hours are long, and the payback period stretches out further than most people expect.
It's the franchise everyone knows about. Rarely the one that actually pencils out.
Across our 37 categories, once professionals see what else is out there, QSR rarely stays at the top of the list. If it does, though, I’ve got lots of brands to show a candidate.
One conversation opened it back up.
That's the difference between researching franchises on your own and going through a proper discovery process.
Google shows you what's popular.
Discovery shows you what fits.
Many professionals come to me with their mind made up.
They leave with a real shortlist. And more often than not, the one they came in with isn't even at the top of it.
Maybe you've already got a franchise in mind.
That's a great starting point.
But it might not be your best one.
If you want to find out what actually fits, not just what's popular, book your 15-minute slot. It's a free, no-obligation conversation, and I will never push you to buy anything.
Ever upward!
Keith
