In our last blog, we addressed three reasons franchises fail, acknowledging medical franchises have some differences than a fast-food franchise, for example. The third reason of inadequate research before buying is a doozy. It can spell success or trouble from the beginning of buying a healthcare franchise. Research is everything before you buy in. Understanding what the franchisor offers potential franchise owners is crucial, realistically. Also, it’s important to know what the culture at corporate is like. Do they consistently get back to franchise owners within one business day, or is that only for prospective owners? You may have a really good experience talking with the corporate office before signing on, yet not have the same luck after buying in.
To learn more about the company, speak with other owners of the franchise to feel out how the corporate office treats owners and employees. Talk with owners of struggling franchises, if there are any. Talk with owners of locations that are thriving. Narrow down the strategies for success and those for failure, and remind yourself of both on a regular basis. Self-evaluate and examine honestly to see if you fit into either group, and find ways to improve yourself and your business.
Learn about how and why franchises fail so you don’t suffer the same fate in your new healthcare franchise venture. However, there are many strategies to success. Seek them out. Be diligent and incorporate a winning game plan for the success of your business and life.
Men’s Vitality Center is one healthcare franchise that is here to help you succeed. Talk to the current owners of our Arizona franchises for answers to some very pressing questions. Our corporate office has answers for your questions as you’re researching possible franchise opportunities. Once you sign on, we offer training up front to make sure you know what’s expected of you and what we will offer to you as an owner.