7 Proven Tips To Run a Career Franchise & Make it a Roaring Success

Meet Mitali. She loves mentoring students on career decisions. She firmly believes that the right career choices and concerted energies towards realizing these choices can make or break your life. She also believes that it's never too late to follow your life's true passion and pursue the career you really want — if somewhat late, so be it.

Mitali decided to take her passion seriously and become a career counselor. She had two choices. First, start her own business from the word go. Second, take up a career franchise business opportunity that would give her a framework, support, and guidance on the entrepreneurial journey.

Do you relate to Mitali? Which option would you choose?

The joy of initiating an independent business that offers you complete leeway is unparalleled.  However, it also comes with several risks: cash flow troubles, a steep learning curve, legal glitches, et al. Associating with an established brand, on the other hand, can be a more padded business decision.

Let's find out how to set yourself up for success as a franchise.

Your Handbook For a Successful Career Franchise Business

1. Inflate your cash cushion

Even though a franchise is less cash-intensive than starting from scratch, you'll still need considerable financing. Think location, inventory, insurance, marketing, logistics for your campus visits, electricity — and that's just a starter list. Before going down this road, ensure you have a hefty cash cushion and at least one year's living expenses tucked aside.

2. Keep your passion close to the heart

Now, this may sound counterintuitive — isn't passion already close to the heart? Well, it's the easiest thing in the world to so lose yourself in business that you forget why you embraced this field in the first place. Running a career-focused venture is as much a vocation as it is an enterprise, and to be successful, you must be genuinely devoted to steering students and professionals towards success.

3. Choose after thorough, all-things-considered research

There's no dearth of franchise opportunities in India. However, ensure to pick one that is aligned with your passion and offers you competent support. Sample the benefits that Career Futura, a leading brand in career counseling in India, provides to its franchisees: a well-researched psychometric test, business processes to handle all the required operations, and coverage on their official website as career experts. What you'll bring to the table is primarily a commitment to career guidance, aside from reasonable investment and infrastructure (minimum 100 sq. ft. is recommended to accommodate a reception, a counseling room, etc.). The company plans to set up a pan-India network in the next five years, so this is a good option to consider during your franchise-hunting.

4. Invest in skill improvement

As a franchise owner, honing YOUR skills is as important as counseling your clients on their career. Successful career franchisees excel at professional counseling, sound relationships with clients, and awareness of the latest trends in admissions, career options, and the corporate world. For your business to become the best in the chain, you've to invest time and energy in learning the parent company's best practices, sharpening your business and industry knowledge, and incorporating your learning in day-to-day activities.

5. The N-word

We mean network, of course. The very core of a franchise opportunity is connectivity, especially when it caters to students and professionals (and their parents!). Attend networking events (online and offline) and get together with both incumbent and prospective clients. School and university campuses, job fairs, and skill-development camps are excellent options for you to cultivate meaningful relationships.

6. Share new, original ideas

You may be operating as per the parent company's guidelines, but that doesn't mean there is no scope — or need — for innovation. One of the best things about being a franchise is that you have the security and mind space to brainstorm. Did you know that according to legend, it was a franchisee's idea to add the popular Filet-O-Fish to the McDonalds menu? See where it got them!

7. Learn to multitask

To run a successful franchise, you need to wear many hats: business owner, finance in-charge, people's person, trainer, and trainee! If you're starting out with a small budget, you're unlikely to be able to afford a large team. It's a good idea to utilize productivity tools for your business, practice time management, and learn to leverage the support provided by your franchisor.

So, feel ready to embark on the career franchising journey yet? You have all our best wishes!

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