The Road To Becoming A Franchise Operator — In 6 Steps

Business can be tough. And while there are never guarantees of success, there are certainly a number of ways to minimize the risks. Becoming the owner of a franchise is one great way to get a jump-start on success.

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Bin There Dump That has helped turn many savvy business-minded individuals into profitable and thriving business owners. But a keen business sense is only one important factor we look for in Bin There Dump That franchise operators. In fact, one of the most important steps takes place long before the business cards are printed and the bank accounts are opened.

The road to a franchise agreement is a process between partners. That process is carefully designed make sure that not only are the potential franchise operators a good fit for Bin There Dump That, but also that Bin There Dump That is a good fit for prospective franchise operators.

Our process is an exploration through which both sides decide whether the future will involve a partnership. The awarding process begins as potential business owners perform a structured investigation into Bin There Dump That called “due diligence.”

The process starts by exploring our website, followed by downloading the Franchise Information Kit. The rest flows from there.

By the end of this exploratory process, you will know whether Bin There Dump That is the right franchise for you. And we will know whether you’re a good fit for a franchise.

Step 1: Initial Phone Call

We begin with an exploratory phone call. We’ll get some background on you and explain our thinking and what we’re looking for in franchise owners. Based on the conversation, we’ll both determine if you’re ready and qualified to move forward.

Step 2: Brand Overview Webinar

The next step involves a 60- to 75-minute online presentation, scheduled at your convenience. During the presentation you’ll learn more about our organization. The presentation helps set expectations.

Step 3: Request for Consideration

If both sides are still interested in moving forward, the potential franchise operators are ask to complete Request for Consideration (RFC). At that point we will conduct a comprehensive and detailed BTDT Marketing Discussion.

Step 4: Validation

The owners of Bin There Dump That know we have a great franchise. You’re certainly not going to hear an unbiased opinion from us. The validation process involves calling existing franchisees to evaluate their level of satisfaction and success.

This step allows you to learn for yourself that the Bin There Dump That business model works and makes money.

Step 5: Franchise Disclosure Document

In this step you receive the Franchise Disclosure Document (FDD). That document begins outlining your exclusive territory, demographics and ZIP codes.

Step 6: Fork In The Road

All the particulars are pretty much in place, but there are a few things to cover. And those things need to be done in person. For this, the prospective franchise operator schedules a discussion with someone from Bin There Dump That who travels to them for discussions.

The future franchise operator may also travel to Toronto for a formal Discovery Day.

After those six steps are complete, it’s time for a choice to be made! And that’s when the real magic begins.

Ready to start the process of becoming a Bin There Dump That franchise operator? Download our FREE Franchise Kit to learn more.

Work/Life Balance As A Franchise Operator: It Can Be Done!

Startup business owners know their responsibilities: they do everything.

Entrepreneurs split time between serving as CEO, sales rep, secretary, accountant, payroll clerk, janitor — the list work-life balancegoes on. It might not be easy, but at least the responsibilities are clear. If something needs to get done, it’s pretty obvious whose shoulders that responsibility will fall on.

Because they’re always in the office, many new franchise operators often think they don’t have the ability to take time away from their businesses. We appreciate the hard work they put into their operations, but a proper work/life balance is key to success. People who spend all their time at work burn brightly and quickly. They’re more likely to have trouble at home and that often leads to trouble in the workplace. We encourage our franchise operators to take time away from their businesses. It helps them gain perspective and develop positive mental health habits.

Use Your Resources

A franchise operator in a good franchise system admittedly does have an easier time than independent new business owners. Our franchise operators don’t need to re-invent the wheel. However, while they can tap the vast collected wisdom of the company’s experience and our available guides and tools, the day-to-day operations do fall back on the owner.

Adding employees to the payroll allows the owners to shed some responsibilities, but it may add others. Now he or she is a supervisor.

It might seem like there is never an opportunity for a franchise owner to take time away from a business. You can almost see the thought process. “I can get away for a doctor’s appointment or slip out to watch my child’s presentation at school, but a vacation? A week away from the business, that’s not going to happen.”

Learn To Let Go!

Simply put, too many franchise owners believe if they were to walk away from the business, for even a week, there might not be a business to return to. While there are many words you can use to describe a franchise owner — important, valuable, reliable, versatile — indispensable isn’t (or shouldn’t) be among them.

One of the biggest challenges every business owner faces is to know when to let go. Any small business owner, whether it’s a Bin There Dump That franchise operator or one in another industry, likes to think he or she is indispensable. That’s simply not the case.

There’s no question that the owner is important — a franchise operator sets the tone of the business and makes decisions that decide how successful the business will become — but those key decisions aren’t the kind that are made on a daily or weekly basis.

Build A Solid Team

As the owner of the business you have control over the hours you spend at your franchise. It’s imperative to have someone you can trust to run the operation (and sometimes make key decisions) while you’re away.

Ask any business owner what his or her most important asset is and the answer is so predictable it’s practically a cliché: “my people.” But just because it’s a cliché doesn’t mean it’s not true. As the franchise owner, you’ll need to find the people you can trust to make decisions in your absence. Good people translate into happy, well-rested and well-adjusted owners. And that translates into successful businesses.

8 Steps to Franchise Success

Franchises are often an attractive option for many would-be business owners. They offer a number of advantages over creating something from scratch: brand recognition, loyal customers, proven strategies and experienced leadership, just to name a few. But just because a franchise has proven successful doesn’t mean the franchisee will be.

Continue reading “8 Steps to Franchise Success”

4 More Mistakes You Make In Franchise Investigation

investigation.jpgIn a previous post, we looked at seven mistakes often made when investigating a franchise. In the conclusion, we’ll look at four other mistakes you need to avoid when discovering franchise opportunities.

Continue reading “4 More Mistakes You Make In Franchise Investigation”

7 Mistakes You Should Avoid When Investigating A Franchise

Approximately 40% of the retail business in the U.S., covering a huge array of services and products, is conducted through franchised businesses. Franchising is the #1 business format utilized in America…and has been for many years. This format has withstood the test of time and currently used by literally hundreds of thousands of individuals to build their livelihoods.

This post will help you assess if franchising in general—and a particular company—is an avenue for you to consider using to build your livelihood.

Here are 7 common mistakes interested parties make when investigating a franchise.

Continue reading “7 Mistakes You Should Avoid When Investigating A Franchise”

The Franchise Agreement: Your New Best Friend

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If you are about to become a new franchisee, you may have some anxiety when it comes time to sign the franchise agreement. You will probably wonder what part of the franchise agreement is negotiable and how you can be certain you’re getting a fair deal. Continue reading “The Franchise Agreement: Your New Best Friend”

The 7 Traits Of An Exceptional & Successful Entrepreneur

How often have you either referred to or considered the expression, “Success is a journey and not a destination?” Probably many times, yet often being in a hurry to get there, we forget that success is not an end unto itself, but is instead an ongoing process.

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Consequently, whether you’re an established entrepreneur or just starting out on your journey, there are 7 particular traits you’ll discover deeply embedded within the exceptional and successful businessperson.

Successful Entrepreneurs Gain the Respect of their Peers

One of the first and most obvious characteristics you’ll see operating in an exceptional entrepreneur is an equitable and unbiased disposition. With an attitude of respect for others, the successful entrepreneur gains the respect from everyone they encounter. No matter how effective or beneficial your expertise, becoming a successful entrepreneur requires building up of your character muscles, traits and habits, which correspondingly make your dreams a reality.

Successful Entrepreneurs Believe and Trust in Themselves

The savvy entrepreneur is good at trusting his or her own ideas and instincts. Starting out as an entrepreneur requires persistence, determination and a high level of self-discipline. Continuing as a successful entrepreneur requires even more persistence, determination and self-discipline. Having the desire and passion are the first steps on your journey; getting there requires believing in yourself.

Successful Entrepreneurs Follow a Plan

The successful entrepreneur follows a plan. Haphazard or trial and error have no place for the triumphant entrepreneur, for no one gets to his or her destination without a map or a guide to follow. That doesn’t mean you won’t go off course if another road seems better, but it’s still more effective to have a plan in place.

Most successful entrepreneurs start out by writing a basic business plan that acts as the impetus and guide for their endeavors. A business plan should be reviewed and updated periodically for each new idea stirs and inspires other ideas

Successful Entrepreneurs Think Creatively

Successful entrepreneurs are not afraid of thinking creatively. The successful entrepreneur is willing to think outside or the proverbial box, which means using imagination, trying new things and expanding on a vision. The savvy entrepreneur pays careful attention as to whether a particular strategy is working. If after giving it his or her best shot the entrepreneur realizes the particular strategy isn’t working, they know there’s no point in continuing to invest energy, time and effort in the strategy. They move on to another approach and idea.

Successful Entrepreneurs Explore Their Exceptional Skills

Successful entrepreneurs realize that we each have our strengths and weaknesses as well as a multitude of skills and talents. Successful people ask themselves often what skills they have that no one shares in quite the same way. An exceptional and successful entrepreneur explores their particular skills until they find the ones that match most closely with their ideal. The successful entrepreneur stays open to change for they recognize that as they move forward, doors open in unexpected places that carry them to their next level of success.

Successful Entrepreneurs Envision Their Success

The successful entrepreneur gives time to envisioning how they want their business to look and how they want it to be. Intention is a powerful and dynamic tool. For those who are not inclined towards intention and visualization, talk to a successful athlete and you’ll discover that before each sporting event, the successful athlete envisions exactly how he or she wants things to turn out.

Imagine what it will feel like when you’ve reached a particular set of goals. The successful entrepreneur knows they have the power to live life the way they want, but to make it a reality, they know it has to be seen first.

Successful Entrepreneurs Never Give Up

Giving up is never in the vocabulary of the successful entrepreneur. Of course there may be days when a successful entrepreneur feels discouraged or disappointed, but giving up is not an option. Having faith, trust, confidence and determination are the qualities needed for the successful entrepreneur. The smart and successful entrepreneur realizes that there will be good days and not so good days. Being a successful entrepreneur requires accepting the ebbs and flows of business for it is in fact what separates the exceptional and successful entrepreneur from the one who gives up far too soon.

How many of these traits do you feel you have? Which ones would you like to acquire? What are other important traits to an exceptional entrepreneur? Please share your thoughts with us in the comments!

Do you think a Bin There Dump That franchise might be the opportunity you or someone close to you has been looking for? Discover your possibilities on our website.

Robert Moment is a sought-after innovative small business and marketing coach and the author of Invisible Profits: The Power of Exceptional Customer Service and It Only Takes a Moment to Score.