What can the World Cup teach us about franchising?

28/06/2018 11:00 | Start a business

What can the World Cup teach us about franchising

From June 14th to July 15th, 2018, football takes over our TV screens. The FIFA World Cup hosted by Russia will see 32 national teams battling it out to be crowned the best football team in the world. Whether you love or hate football, theres no denying that the World Cup captivates the hope and dreams of sports fans across Europe, Africa, Asia, North and South America.

In fact, the 2014 World Cup was watched by 3.2 billion people which is almost half of the worlds population. Ever since the World Cup began back in 1930, the biggest and best football tournament has provided incredible summers full of excitement and disappointment.

There are also some lessons about franchising that can be learnt from the World Cup.

1.The underdog can come out on top.

In the world of franchising, bigger doesnt always mean best. Popular franchises generally come to mind when you think about becoming a franchisee. Theres no getting away from the fact that big chains such as McDonalds and Subway dominate our high streets. But there are many smaller, low-cost franchises that may be better suited to your ambitions, lifestyle and budget.

Take Iceland for example. Back in Euro 2016, they made the footballing world sit up and notice them. With a population of just 3 million, the fact that they narrowly missed out on a semi-final position and have qualified for the World Cup is a testament to their determination and spirit.

If youre looking to become a franchisee then why not consider one of the many low-cost franchises that are just starting out. This will give you the chance to get in with a franchise right from the start placing you in a strong position within the network. And as new franchises tend to be more affordable than established brands you'll get to opportunity to achieve profitability sooner than if you had massive overheads.

2.Teamwork is key

Portugal have Ronaldo, Argentina have Messi and Egypt have Salah, but individual talent can only take a team so far. Nations that perform well at the World Cup, such as five-time winners Brazil, do so as a team, not a bunch of individuals.

This is also the case when you become a franchisee. Particularly noteworthy is the relationship that you develop with the franchisor. You both have the same goal to run a profitable business and should work together to make this happen.

You should remember the significance of this relationship when youre performing your due diligence before you sign the franchise agreement. When you meet with the franchisor and their senior team youll get a sense of the companys culture and how the franchisors personality affect this. At this point listen to your gut instinct. Do you feel you could work with the franchisor to learn from their knowledge and experience? If the answer is no, then your path to success may be more difficult than it needs to be.

Without teamwork, the concept of franchising is flawed. If you feel unable to benefit from the expertise and the support of the franchisor, then you may as well be starting your own business from scratch.

3.There's a plan that must be followed.

Whether its 4-4-2, 4-3-3 or 5-4-1, every World Cup team will have a plan that the manager will expect to be followed through on the pitch. Similarly, when you invest in a franchise model, there will be rules that need to be adhered to.

The franchisor will have spent years developing and improving a franchise system which works. And you know it works because the franchise has a proven track record of success. So why reinvent the wheel?

For a franchise to thrive, franchisees need to understand the importance of consistency fully. The uniformity of the brand, products and service that customers receive from one location to another is crucial for a franchise to succeed. If you have an entrepreneurial spirit and find it hard to follow the rules, then franchising may not be right for you.

4.Training is essential for success.

The World Cup players train for weeks before the tournament starts to make sure that they're fit and know what's expected of them during the games. On average, a football player runs 10 kilometres during every match so not staying on top of their training would result in injury, disappointment, or both.

If you want to become a franchisee, the same applies to you. Franchises are great for budding entrepreneurs who want to start their own business but dont have the necessary know-how or confidence to make it happen. Popular franchises remove the need for experience by providing comprehensive training programmes for all franchisees.

The initial training usually covers qualities that every business owner should possess combined with specific skills related to the franchise. And your training doesnt stop when you start your business. Good franchises continue to provide coaching and support throughout your franchising journey. Always take advantage of the training thats on offer to learn as much as you can from those more experienced than you.

5.Have a differentiator that makes you unique

Just like the Olympics, the World Cup only takes place every four years. Its no wonder then that the build-up generates a tremendous amount of interest resulting in them being the most watched TV sporting events.

So, what can a business learn from this? Well, its the fact that the World Cup only takes place every four years that differentiates it from other football tournaments. For FIFA, the World Cups differentiator is scarcity; whats yours?

Consider this when youre reviewing popular franchises and your preferred location. Assess the competition in the area to ensure that your franchise will stand out amongst other similar businesses in the community. For your franchise to be a success, there have to be enough customers for you to build a sustainable and profitable business. If theres too much competition, just like for Wales and Scotlands World Cup qualifiers, your franchise could be over before its started.

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