Starting out as a small business owner requires a lot of patience and ambition, and if you’re going it alone, there will likely be a considerable learning curve. One of the distinct advantages of starting a home care business with Executive Home Care is that thanks to our years of industry experience, a lot of the kinks of business ownership have been worked out. We know what works and what franchise mistakes to avoid. Keep reading to learn about three of the more common ones.
You Don’t Follow the Business Model
Entrepreneurs gravitate to the franchise business model for many reasons — corporate training and support, marketing help, networking opportunities, and more. But one of the main reasons why the model is so appealing is because it has established processes and procedures that, if followed, act as a roadmap toward success. So, as a new franchisee, one of the biggest franchise mistakes you can make is to not follow that roadmap!
Many new franchisees might be tempted to deviate from the model because they’re worried they won’t have enough autonomy if they don’t. But nothing could be further from the truth. While it’s true that we’ve put in place processes and procedures that make running your Executive Home Care franchise easier by taking the guesswork out of things, it will be your job to make important decisions about who to hire, what growth goals to set, what to delegate, and much more. In fact, following our business model gives you the freedom to do what’s most important — focus on families and grow your bottom line!
You Set It and Forget It
Precisely because franchisees have a business model to follow, a certain percentage of them will think that gives them the freedom to set things on autopilot and just walk away from daily responsibilities. This is a very costly mistake to make, especially when starting a senior home care business. Your success as an Executive Home Care franchise owner will depend on your involvement, from hiring qualified staff to reaching your best customers to networking with your community. You are the face of your brand, and you have the most riding on its success, so it’s vital that you stay connected to it.
Having said that, once your franchise is established, you will have the freedom to decide how heavily involved you’d like to be. You’ll have trusted staff members to rely on and a better understanding of day-to-day operations, leaving you the ability to strike a more satisfying work/life balance.
You Don’t Take the Long View of Business Ownership
We mentioned earlier that successful business ownership requires patience, and there’s a reason for that: any industry you’re in will likely have many, many moving parts, be influenced by numerous factors, and require lots of multitasking. You’ll need to see the big picture, stay focused and positive, and understand how one small action might affect ten more of them down the line. In other words, at the end of the day, you’ll need to take the long view and feel confident in your abilities to grow your Executive Home Care franchise over time. This attitude will allow you to not only weather the challenges of business ownership but also enjoy its rewards more fully!
To find out more about starting a senior home care business and franchising with Executive Home Care, reach out to our franchise team today!