WARNING! Not all franchisors were created equal. Use these franchise research tips to help you make the right decision for you and your family…
Nobody has a crystal ball. Well, let’s say nobody has one that WORKS. However, there are many unscrupulous franchisors who will tuck what seem like crystal balls under their arms when they meet with you and pull them out during your due diligence phase when you start asking questions. They will imply (and sometimes flat out claim) that their franchise for sale is great and pressure you to sign their agreements. Don’t fall for it. While the franchise model is a legitimate force for entrepreneurs and a credible addition to overall economic health, franchise complaints, franchise scams and flat out franchise rip-offs dot the landscape along the path to your wisest selection.
To avoid becoming a franchise failure rate statistic, you simply must realize that the crystal balls that some franchisors brandish are little more than glass orbs of deception in the form of exaggerated claims that will smash when put to the test with your investment. Instead, conduct a comprehensive franchise review because the good news is that there is a formidable franchisor with high numbers of proud and flourishing franchisees waiting to talk to you and tell you their stories. Find the franchisor with staying power, the one that backs up discussions with a lineage of lucrative entrepreneurial realities for you to explore.
When there is a history that current franchise owners attribute to a system that has worked to bring them success, pay special attention to that franchisor and put them on your short list because they have the staying power for which you are looking. The Minuteman Press brand qualifies as elite due to a deep history of successes and Ron Rubin, Regional Vice President located in New England, cites some of the reasons why, “We have an award-winning training program, the best in the business services industry. That is followed up with 26 regional offices with local support by Regional Vice Presidents, Area Managers and Field Representatives. Many franchisors fall short in comparison.”
A franchise with staying power gives you greater command of your future but will not leave you to navigate the industry without preparation and meaningful support
You are pursuing franchising opportunities for a good reason: Ideas that have not been put to the test are commonly known as dreams and frankly, most are unrealized dreams. However, for individuals with unstoppable determination and business savvy, ideas are combined with action and good things can possibly happen. The benefit of turning away from independent business pursuits and setting your sights on franchising is in finding the company that has had many years to navigate uncertain terrain within a particular industry. The top tier have become masterful at it by virtue of accomplished, happy franchisees. Their systems and support can be the difference between a dream that fails and a reality that you can command in a direction that will give you your own staying power in business.
You are looking for a franchisor with staying power for a good reason: When a person buys a franchise they are receiving the knowledge and expertise of the franchisor which is why it is important that the franchise system they select has been around to develop an impressive history and has proven to adapt to modern demands within their industries.
You should not settle for half-hearted franchisors: Assume that it will take some hunting to find your home as a franchise owner. For instance, financing the project can be a challenge if left on your own, so see to it that your top choice is ready and willing to assist you with financing options that you may not even know exist because there are greater options beyond Small Business Association loans. If a franchise corporation has been in the business of assisting in more than superficial ways as people take off and build strong businesses for themselves, they should have a broad knowledge base that you can lean upon, including help with financing. Additionally, selection of equipment, shop set-up, the hiring of proper personnel, and providing advice and assistance with the ongoing marketing of your business is something that should not be assumed to be provided. Only the highest-rated franchisors will be there for you in such a dedicated capacity.
Amy Steinman, multi-unit Minuteman Press franchise owner in Hartford, Vernon, Manchester and Glastonbury, CT, partnered with her husband, Joel in the pursuit of the most worthy franchise investment. As intelligent entrepreneurs, their due diligence led them to the number-one rated, industry-leading franchisor and they brought their own skills and persistence into the formula and built the kind of life some only imagine. Now, as a respected, seasoned and successful franchise owner, Amy Steinman is a perfect guide for eager entrepreneurs with questions about the staying power and value of the system that she has used to grow her own empire.
Amy shares, “Specifically, owning a Minuteman Press franchise has been an absolute success. I credit the support that we all receive from our Minuteman Press International representatives and everyone at the home office; everything from purchasing, SEO and website maintenance, proprietary software, to employee training, we have people who want us to succeed and do well in business ownership and whose job it is to ensure that we have what we need to do that.”
Amy continues, “Of course, it’s ultimately up to the business owner to implement them and create their own success. However, outside of our reps and home office team, I feel like I receive the most value and learning from other owners. These discussions are always insightful, whether they occur at formal occasions like regional meetings or the meeting at the President’s Circle, or more informal conversations during dinners with friends who own a Minuteman Press in Florida during our conference and world expo.”
She concludes, “Minuteman Press owners have the added benefit of comradery with owners who are doing the same thing we are doing (perhaps better) that we can learn from.”
Franchises with staying power prove that consistency and innovation are not a contradiction…
In fact, they are part of an essential balance achieved only over time and only by the best in the business (as the saying goes). Clients of such franchises come to know what to expect and then rely on that knowledge when making decisions about where to seek the help they need. Consistency in brand representation leads to invaluable recognition that over time helps develop a comforting familiarity, but increasing modern demands require more for true staying power. Therefore, a franchisor who can stay consistent with its own core components while maintaining the ability to develop and incorporate technology and methodology that keeps pace with the times is going to be an enormous ally to its franchisees and you should settle for nothing less.
It is a delicate but necessary balance to respect a proven system while folding-in advancements that address the current needs of a particular industry. Michael Jutt, Executive Vice President and Director of Training for Minuteman Press International, has been instrumental in governing an award-winning franchise system that has developed enduring respect worldwide over four impressive decades. He also maintains an innovative mindset that continually serves to keep the corporation on top in a culture that expects production at a quick pace, without sacrificing quality.
He begins by sharing an important consideration for any potential business owner, “The question is do you want a fad or a future? An industry has to have a solid foundation. For instance, if we simply go back a half century and examine the printed products that were consumed in the business community, it will be clear that not much has changed. When John F. Kennedy occupied the White House, the average business used letterhead, envelopes, business cards, brochures, catalogs, sell-sheets, order forms, etc.”
Michael continues, “The same products used then are used today in almost every enterprise. The technologies to produce these products may have changed, but the products themselves are still the same. In the consumer’s mind printing has changed but it hasn’t, really. The technology that produces the printing has improved the efficiency and quality, but the products are still consumed. When you look at businesses, there are a lot of fads that aren’t around long enough to develop the kind of consistency that is needed to thrive. In the early years, our printed products were predominantly delivered to the purchaser and today, we help distribute those products on behalf of the purchaser.”
Michael ties it all together, concluding, “The newer innovations of toner-based, inkjet, dye sublimation, screen printing, embroidery, and laser-etch technology assist us in producing a vast amount of these products more effectively. The majority of what we designed prior to the onset of the internet age was for paper, but today we create designs and brands that can be reproduced on anything from a t-shirt to a key landing page on a website. In these ways, consistency meets innovation and together, they help ensure longevity.”
Finally, don’t settle for anything but stellar support and look to the leaders in your industry
Jack Panzer, Area Manager in Arizona/Colorado for Minuteman Press International, emphasizes truth about support myths in franchising, warning that nothing should be assumed in such a critical area. He explains, “Support at the local level is simply not something that you can count on with any franchisor and believe me, you will need it. For instance, I typically help our franchisees perform a pricing survey of the competition in any area with which I am not as familiar. I then walk our owners thru evaluating the pricing so they can feel very comfortable with selling at the price at which they want to sell. I am also there for them with technical and personnel assistance and they can have faith-rest that our support will always be there, even as they prepare exit strategies for retirement.”
While no one has a crystal ball to predict the future, there are well-established franchisors empowered by a consistent, respected system as well as the ability to adapt and incorporate appropriate necessities based on modern demands. These are the leaders in their industries and the ones that help increase your odds of building a strong business, so you can have your own staying power.
To learn more about joining the #1 rated Minuteman Press franchise family, call us at 1-800-645-3006 or simply fill out the contact form on this page.