with guests Debra Strougo & Eric Von Frohlich #FranchiseSecrets Ep 43
Making the business decision to develop your company into a franchise might seem overwhelming, or even out of reach. How do you know if you or your company has the credentials or ability to expand into a franchise? There are many components to consider, which might leave many business owners curious on where to begin.
What if I told you the first component consisted of nothing more than being passionate? Franchise owners and couple of Row House, Debra Strougo and Eric Von Frohlich are passionate about their organization. Through their whole process of taking the pivot from a mom and pop business, to a franchise, they remained passionate and true with their focus. This couple always felt passionate in helping people and involving the community. The first step they took in franchising was aligning their business with their passion.
Partnerships Contribute to The Path Towards Franchising
Having credible partnerships is a key component to success. Debra and Eric started their venture alongside of one another. They are confident that their abilities and strengths balance each other out, which aided them to their success. This couple relied on one another, put in equal work, held each other accountable, shared visions and brought necessary requirements to the table that the other one couldn’t.
When realizing that they wanted to expand their company, they knew that they needed to seek further partnership and mentorship. Allowing yourself to be vulnerable and acknowledging that extra partnership is helpful, is one component that is necessary when looking to expand. Taking caution to the vulnerability of this process is necessary as well. You must get to know the partner you are getting into bed with before immediately deciding to develop a partnership with them. Debra and Eric knew the partner they were lining up with knew the market very well, which would ultimately be beneficial to them. Later down the road, this partnership leads them to becoming a franchise company. However, they express that partnerships like this, do not happen overnight.
Leading a Business to Taking the Franchising Route
Debra and Eric discovered along their journey, that there are many business avenues to take and stumbled across multiple distractions. So, what ultimately lead them or anyone to choosing to franchise? The couple knew that they wanted to touch many lives, and one way that made it possible was by choosing to expand and franchise. Everyone must be aware that when you go from owning a company or two, to becoming a franchise… it becomes a different business. There is a lot of thought and factors that go into franchising.
Ownership Attributes Needed When Taking the Franchising Path
Learning the market to your best ability is one way to be sure your franchise will thrive. Sometimes, you must devour in certain partnerships to obtain the maximum amount of knowledge. Aside from being educated about the market. You must also create a business model that will not align with just yourself, but also align with others. The acknowledgment that now your business will not only be utilized by yourself, but will also be utilized by other business owners is a major component to consider before franchising. The couple expresses how they stumbled upon speed bumps and had to lean on one another and remind one another that they needed to stay focused and true to their vision. Patience is a virtue, but while being patient and running into distractions, the couple informs us that to truly be happy with your success, you must not forget your original orientation.
Being able to delegate and take a step back is one aspect that business owners have to allow themselves to achieve. Many do not realize that this gives owners and organizations more leverage. There is not enough time in a day, and to try to run your entire model as well as each franchise, is not feasible or an avenue to success. Often, we reach a point of confidence with our company and skillset, we have a hard time handing it over. Learning how to allow yourself to do this is another core component when expanding. Once we achieve creating a flexible business model, the next action is to allow others to drive the ship and utilize the business model created.
Couple Debra and Eric credit certain core competencies and characteristics they held onto that allowed them to achieve franchise success. The couple always maintained the ability to think critically and strategically and remained disciplined through their extensive pivoting process.
Is the Franchising Path for You?
Deciding if the franchising path is aligned for you, can be a hard egg to crack. Debra and Eric show us some of the qualities and platforms that go into franchising and help to solve and make certain if we can achieve franchising. If you are looking to become, grow or even scale a franchise, this episode brings lots of clarity. Not only will this episode give clarity on if franchising is for you, it also gives insight on building and growing a franchise. There are numerous amounts of positive things that come from taking the franchising route. However, business owners must keep in mind that scaling and maintaining the franchise is never-ending. Hearing this couple’s background allows us all to see the struggles that are ahead and how to properly handle them, making sure we can not only successfully become a franchise, but continuously scale it in a manner that will allow us thriving franchises.