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Five Key Ingredients for Owning a Successful Franchise

If you are interested in turning your passion for pets into a successful franchise, Pet Wants has the five key ingredients you will need to follow to own a successful franchise.

Making your small business successful takes hard work, talent, and determination. If you opted to open a franchise, you are on the right path to owning a profitable and rewarding business. Approximately 20 percent of small businesses fail during their first year and about 50 percent fail after five years in business, according to Fundera, a financial resource for small businesses. The failure rate for franchise owners is markedly less because they are investing in a recognizable brand with a proven history of success. They also have the strength of a parent company behind them to provide support, training, and best practices to ensure success.

But even with the support of a strong, reputable franchisor, a successful franchise owner should have the following characteristics:

1. Motivation to Succeed. Successful franchise owners are devoted to their brand. In fact, they should be their brand’s biggest fan and cheerleader. Franchise owners dedicated to providing customers with superior service and high-quality products will go far. If you are enthusiastic about the brand, customers will take note. Your enthusiasm and positive mindset are valuable assets for creating a workplace that employees enjoy and that will motivate them to take great pride in their work.

2. Follow the System. Franchise owners are given a playbook for success. Customers know when they visit your brand, they will receive consistent service and products from any location. Following the systems preserves the integrity of the brand and helps protect your investment. Your franchisor knows what works and what does not when it comes to your business model. Following the franchise system will allow you to start a business that is several steps ahead of any solo venture. 

3. Open to Support. Your franchisor has first-hand knowledge and years of experience with the brand. They are your best resource and you trust them to help your business thrive. Successful franchisees are open to accepting this support. Franchisors typically provide ongoing product development, highly visible marketing, and a network of franchise owners to help your business.

4. Avoid Burnout. Getting a business up and running can take a toll. Initially, you will need to work long hours to get your business rolling. It’s easy to forget that one of the reasons you opted to open a franchise was to set your own schedule and escape your desk job. Make sure to find a work-life balance that allows you to flourish. Healthy and happy franchise owners who make sure to schedule in family time or dinner with friends will benefit their business.

5. Become a Valuable Community Member. Small-business owners are an integral part of every community. Supporting the community where your customers live will help your business succeed. People like to do business with someone they know and trust.  Some easy ways to establish yourself as a trustworthy and vital member of your community are to join the local chamber of commerce, sponsor a local charity, or support a children’s sports team. Make it a priority to attend local community events.

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Pet Wants Helps Franchise Owners Succeed

Pet Wants is currently looking for future franchisees who have these characteristics to join our growing and enthusiastic network.

Pet Wants is one of the fastest-growing franchises in the United States. The pet-food franchisor provides entrepreneurs with a chance to take charge of their future with a recession-resistant option in the lucrative pet care market. Pet Wants added 22 new franchise locations in 2020 and increased its overall sales by 25 percent. Entrepreneur magazine recognized Pet Wants as a Top Low-Cost (under $100k) Franchise and also included the brand as part of its Franchise 500 ranking. Our third-party referral system puts the power of growing your business in the hands of satisfied customers and gives them a chance to spread the word about the difference fresh pet food has made to their fur babies. Pet Wants offers both mobile and brick-and-mortar options to appeal to a wide variety of budgets.

“We feel like the business is extremely scalable, and that was one of the prerequisites for us getting into it,” said Caonex Abreu, Pet Wants Miami franchise owner. “ We wanted to scale to a large customer base and size because that’s important to any business.”

If you are interested in starting a successful franchise in the pet foods industry with Pet Wants, please fill out our form to learn more.