One of the greatest appeal of buying a franchise is the support. When you buy a franchise, of course you receive the ongoing support of your presumably wiser, more experienced franchisor. But, prospective franchisees often overlook the hidden treasure that is the network of other franchisees. When talking about franchising, everyone talks about and boasts about all the support from the franchisor. However, an equally valuable resource for support is all the other franchisees as a whole.
A well developed franchise system with a dedicated, strategic and ethical franchisor will, of course, include full support for its franchisees. A great franchisor will couple that support with peer-to-peer support within the franchisee network. When researching franchising opportunities, you should keep in mind that some of the best franchisors will directly provide support AND also foster a culture of peer-to-peer support within the franchisee network.
Leverage Network of Franchisees & Building Peer Network Relationships
At the end of the day a network of franchisees is simply a network of fellow (non-competing) business owners all going through similar obstacles and sharing the same experiences. A reputable remediation franchisor will offer its franchisees protected franchise territories with clearly defined areas of operations to prevent competition from franchisees of the same brand. Unlike individual small businesses, where your direct competitor might be right next door or just a mile away, mold remediation franchisees with protected territories don’t compete with one another. Therefore, franchisees will have the unique opportunity to network with like-minded individuals going through the same challenges, same growing pains, same excitement and same experiences -- without worrying about competition. And, if the franchisor was strategic and brought in the right kinds of franchisees, your fellow franchisees will be only too happy to help guide and support the newest members of the franchise.
The Importance of Networking and Peer Network Relationships In The Remediation Industry
Peer networking is so important in the mold remediation industry. Business ownership comes with it's own challenges and demands. Additionally, the mold removal industry is constantly evolving, with new products, equipment, technologies and remediation methods being announced and released seemingly every day. Having a strong network of peers to rely on can be incredibly beneficial. When you join a franchise, that peer network is already built into the system.
The strength of a franchise relies on collective success. The collective knowledge of an existing network of franchisee is a powerful resource in the mold remediation industry:
Shared Knowledge & Open Information Exchange - Collectively, a franchise network is a wealth of knowledge waiting to be tapped into. Different owners might have experienced similar challenges, but developed different solutions. Different owners might have tried the same cleaning product, but all have varying experiences and feedback. Some business strategies might have been successful for one franchise location, while unsuccessful for other locations. This information is all so valuable, and it is important that this information gets shared among the network.
Community Support - Knowing you have the support of your franchisor as well as the support of your fellow franchisees can be an incredible relief. A sense of community within the franchise network can make business ownership seem less lonely and less like you have the burden of the world on your shoulders. With the right franchise system, your franchisor would have taken the time to carefully select the right kind of entrepreneurs that also believe in a sense of community and appreciate the value of community support among franchisees.
Learning Opportunities - Trial and error can be a very expensive element of business ownership. Your franchisor will lay out a general blueprint to launch a mold remediation business, which will eliminate a bulk of those initial mistakes and get you started on the right foot. However, the mold industry is ever evolving and business ownership is not a one-size-fits all. As your business develops, you will face new challenges. As the industry evolves, you will need to adapt. Your fellow franchisees are a great resource to guide you by providing valuable insight on business strategies that worked for them, providing feedback on products or equipment they might have tried, and sharing experiences that might be helpful in your own operations.
Mutually Beneficial Relationships - Individual franchisee growth and profitability will have positive impact on the franchise network as a whole. Franchisee success means heightened brand awareness, increased demand, and strengthen of the brand reputation. By helping one another out, franchisees are in turn helping themselves out; and, ultimately strengthening the franchise system as a whole. Everybody benefits from everyone’s individual success.
There is no denying that we are more connected than ever. We have the capability to build professional relationships with anyone across the world right at our finger tips. This unlimited opportunity to exchange information and share professional experiences with fellow, like-minded peers is a valuable tool for business owners and entrepreneurs in the mold remediation industry. With a franchise, your peer network is built into the system and easily accessible.
To learn more about Mastertech's flexible franchise offerings, call today 1-800-559-5338.