The Business-owner mindset: 5 Skills That Prepare You for Franchising

If you’re considering investing in a franchise, adopting a business-owner mindset will set the tone and help you achieve your vision.

Franchising Spurs Entrepreneurship

Author and self-help expert Napoleon Hill is famous for his inspirational quotes, and one in particular rings true for entrepreneurship. “Whatever the mind can conceive and believe, the mind can achieve.” With the right training and support, owning a business is not out of reach.

People assume you need to be an expert at accounting or sales to be a successful entrepreneur. A strong finance background may be an asset if you start a business from scratch, but franchising requires different attributes. In fact, most people already have the passion, ambition, and entrepreneurial mindset they need to be successful. It’s likely you possess transferable skills to make you an asset in the franchise community. Discipline, mentoring, leadership, and teamwork experience will take you far in franchising.

Franchising offers a path forward for people who want to take charge of their future and diversify their income. Franchise businesses provide built-in perks like brand recognition, proven business models, training, and marketing support. There are more than 792,000 franchises in the U.S., covering a wide variety of industries. While fitness centers and car rental dealerships have high startup costs, there are many low-investment opportunities for people who want to launch a business at a reasonable price, including a number of home-based businesses.

Franchise Skillset

To be successful in franchising, it helps to have a business-owner mindset. Learn about the skills and knowledge it takes to grow any franchise business.

1. Ability to follow a system. One of the benefits of franchising is gaining access to a turnkey business. A franchise owner does not need to reinvent the system to succeed. The franchise has already established the best processes and procedures you need to follow. Having a system alleviates many of the unknowns of launching a business and helps achieve a secure future.
2. Growth mindset. Franchisees with a business-owner mindset have long-term vision and goals. They understand their lifestyle and financial aspirations and rely on a scalable venture to make them happen. Business owners can fall into the trap of focusing on day-to-day operations and neglecting planning for the future. Part of a business-owner mindset is understanding the tasks that need to be delegated. Franchises are designed with growth in mind. Whether it’s hiring a manager or additional employees to focus on the details, taking time to look at the big picture is essential.
3. Leadership skills. An entrepreneur needs to be passionate about the business, have the skills to lead a team, and manage employee relations. Customer service and time management skills are an asset.
4. Adaptability. Owning a franchise is less risky than starting a business from scratch, but any venture has challenges. A franchise owner needs to be resilient and able to pivot to cater to consumer trends or current events.
5. Marketing vision. As part of owning a business, building a loyal client base is crucial. Most franchisors will help generate leads and offer in-depth marketing support. Operating a brand with nationwide recognition is also a plus. A large part of having a business-owner mindset is developing ways to add new customers, and marketing will be a large part of your role.

Create a Lasting Partnership with Complete Weddings + Events

Complete Wedding + Events offers the tools, training, and procedures you need to flourish as a business owner in the lucrative wedding and event planning industry. The U.S. wedding industry generates at least $51 billion per year, according to Wedding Report. And nearly 2.6 million couples married in 2022.

We are searching for prospective franchisees who are enthusiastic and possess a business-owner mindset. People who have the ability to multitask and possess solid customer service skills will discover an exciting future as a Complete Weddings + Events franchisee.

To keep startup costs low, our business model does not require inventory and can be operated from a home office. We offer photography, DJ, videography, lighting, and photobooth packages for weddings and other memorable occasions. Our franchise owners can also provide coordination services to ensure an event runs smoothly.

At least 90% of couples are doing the bulk of their wedding planning online, according to The Knot. To cater to current trends, Complete Weddings + Events invests in search engine optimization and online reputation management providers to increase visibility, as well as other resources for franchisees.