Defining Your Franchise Vision & Setting Business Goals

Updated: Mar 28, 2019


A Clear Vision of What You Want From Your Franchise Business


Success is relative. In order to be successful, you need to be able to define what success means to you as a franchise business owner. What do you aim to achieve? What is your purpose as a mold remediation business owner? What do you hope to gain from your franchise journey? As an entrepreneur, you cannot be successful if you have not taken the time to define what success means to you. As a franchisee, it is important for you to establish a clear vision of what you ultimately want to achieve with your franchise company. You cannot be successful if you do not have a clear vision to strive towards.

Setting Realistic Goals To Achieve Your Franchise Vision


So, you took some time to really dig deep and define you business vision. You've ironed out your purpose for investing in a franchise, you've figured out what you hope to achieve and you've identified what will make you successful. You have an end goal and know where you want to get to, but how do you plan to get there? You will learn that your time as a franchisee is a journey and you are going to need to establish goals along the way that will ultimately guide you to achieving your goals. Setting realistic goals will be key to getting you closer to your vision.


-Set Specific Goals-

Business goals need to be as specific as possible. What, who, where, when, how... these are all very important information to attach to your goals. This way you know exactly what your are aiming for, so you can properly plan and strategize how to achieve your goals. "Market to more people and sell more jobs" is not a productive goal. How many is "more?" Without out specifics, you cannot determine when a goal has been achieved. A specific goal would look more like, "Increase marketing by 20% over a period of 3 months and close minimally 4 jobs per month."


-Set Measurable Goals-

You should be able to develop a tracking method for your goals. It is the only way to know for certain if what you are doing is actually getting you closer to your next goal and your overall end goal. Measuring your goals helps to assess if you are on the right track to achieving your goal. And, if your tracking indicates that you are behind or your numbers are falling short of anticipated, you now know that you need to adjust your plan and business strategies to hopefully make up for that and still get you to your goals.


Example: Lets say your goal is to gross $225,000 per quarter. That means about $75,000 per month. But, at the start of February of Q1, you see that you only grossed $48,000 in January. Now, you know you need to change your game plan to make up that $27,000 between February and March in order to still hit your business goals for the quarter.


-Set Attainable Goals-

When setting goals, be realistic and be honest with yourself. Do not set goals that are wholly achievable-- you are only setting yourself up for failure. While challenging yourself and your business is important, your goals should remain possible, worthwhile and achievable. Push yourself and your business just enough. If you set too extreme of goals that aren't possible without taking extreme measures, you will likely get disappointed and lose motivation when you do not meet your goals.


Example: Don't set a year-end goal of $2 million if you are realistically averaging $48,000 per month. You would have more than triple your monthly sales in order to achieve that. Such intense goals can be discouraging and hinder measurable success. A more attainable goal might be to increase monthly sales by 18% to hit a year-end goal of $680,000. With time, you can possibly work your way to that $2 million year.


-Set Relevant Goals-

Going back to being honest and realistic about your goals, it is important to set realistic and practical goals. Your goals should have long-term relevance to your vision. Don't just set goals that seem easy or exciting. Every goal should be of noteworthy importance to your business vision. When setting goals, mold remediation franchisees should take time to evaluate your plans to understand how each goal might fit into your organizational or personal vision, mission and purpose is important.


-Set Timed Goals-

Give yourself deadlines. Clear deadlines force you to commit and work to drive results. Timelines help to motivate you, keep you on track and avoid procrastination. Clear timelines also helps to track measurable results and put all that into perspective with your anticipated vision.


Conducting Regular Business Evaluations


Your mold remediation franchise business is a living beast that is constantly evolving. Business plans are fluid. You will need to adjust and adapt your business plans and strategies as your business, the market, and so many other factors change. Your vision might evolve with time and your goals might need to change with it. It is important for franchisees to conduct regular business evaluations (monthly, quarterly, semi-annually and annually) to make sure that your goals still make sense with your overall vision.

CONTACT INFORMATION

Ph: (800) 559-5338

Fax: (888) 958-0722

Email: tom@mastertechfranchise.com

Mastertech Franchise Systems

808 Warsaw Avenue

Blackwood, New Jersey 08012

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