What Do you need to start a business?
Granting a partnership
Dave Thomas, the legendary founder of Wendys, was once asked “What do you need to start a business?” His answer — “Three simple things: know your product better than anyone, know your customer, and have a burning desire to succeed.”
The business Dave started evolved into a highly successful franchise system. And you can bet that all Dave had learned in building his original business was offered to his franchisees in the form of products that customers wanted, marketing systems that successfully attracted the customers, and training aimed at helping his franchisees achieve the level of success.
Embedded in the history of most highly successful franchise companies is a “founder” whose original business idea became a resounding success. To turn that business into a franchise system, the founder had to first develop, test, and document tools, systems and strategies that insured the success of future franchisees. The goal was to create a business model strong enough to attract potential franchise owners who had that “burning desire to succeed.’ If a franchise company can show potential franchisees that their current franchisees achieve significant financial and personal success as a result of following the model, everyone wins!
In other words, the success of emerging franchise systems ultimately depends not just on the work that was done prior to launching new franchisees. It also depends on the franchisor’s ability to attract potential franchisees who not only have the necessary skills to run their franchise, but also bring that third ‘simple’ thing that Dave Thomas identified as the key to success in business: “the burning desire to succeed.”
Right now there are hundreds of “top-shelf” franchise companies that are actively and aggressively aiming to identify people who meet their well-defined criteria for franchise ownership. They know the skills that will be needed, but more importantly they understand the drive and determination that must exist in each person they approve as a franchisee. Franchisees who lack that ‘burning desire to succeed’ will sink to the bottom of even the best franchise systems.
Do you have that burning desire to succeed? Can you imagine applying your drive and determination in a franchise model that has already proved that its products, services, systems and strategies work – if placed in the hands of the right owners?
Is this worth further discussion? Let’s chat.