The first year after starting a business can be hectic. This could be especially true for a staffing franchise in which, ideally, you're dealing with hundreds of job seekers and dozens of clients every month. Every day of your first year is simultaneously dedicated to serving every client and customer you have and reaching out to an increasingly wider audience of potential clients. On top of this, there could be the usual setbacks, challenges, financial decisions, and less than ideal situations you may have to worry about. However, in all this chaos, it is your responsibility as the business owner to keep your cool, hold it together, and ensure that everything lines up properly at the end of each month. Here are five pieces of advice for you to remember in your first year as a franchise business owner.
1) Take Care of Your Physical Property
The vast majority of your worries in the first year are procedural. How and when things are done becomes the paramount focus of your life, but this doesn't mean your building and equipment should fall into the background. Remember that customers who come to your location will absolutely take note of whether or not your hard working staff has had time to wipe down the front door or the desks, and tidy up the office. The customers, employees, and procedures are important, but don't forget to take care of your office space as well.
2) Stick to the Franchise Plan
There are two very different ways to start a business; starting from scratch and working with an established franchise plan. The entire reason you decided to join the franchise was to gain the benefit of their business plans, solutions, and knowledge. Wherever the franchise creates a precedent, stick to the plan and don't hesitate to contact your brand's headquarters or corporate office for advice. Your franchise wants you to succeed for the good of the brand and you can rely on their previous experience as a source of solid business advice.
3) Stay Flexible Where it Counts
While there are many reasons to stick to the franchise plan, there's a reason the franchise model can be so successful. Every local business must also learn to adapt to local circumstances like geography, weather, suppliers, and even local customs. You know when your town expects shops to be open on the weekends and you will have to arrange for local services like power and internet on your own. Flexibility is also important when managing your employees. In the first year it is very important to remember that mistakes happen and you, as the owner, need to continue holding the company together.
4) Watch Your Spend
One of the biggest risks for first-year companies is to overspend your startup capital in the rush to get everything else done. It's true, you need to be prepared to solve a few problems with money, but keep an eye on your finances and consider how much 'wiggle room' you will have to achieve your timeline.
5) Keep Your Sense of Humor
In what could be a stressful first year in business, it is important to never forget your sense of humor. Be sure to let things roll off your shoulders, don't take anything too personally, and be patient with your staff. The best way to deal with any crisis situation is to remain calm, and judge each event objectively based on what needs to be done immediately and what will have lasting effects on the company's success in the long run. If you can laugh off the little things, your staff will be able to quickly recover from their mistakes and get back to striving for success.
Whether you're in the middle of that first year of business or you are still thinking about what it's like to start your own staffing agency, always remember to keep your cool and don't be shy about calling your franchise for support. For more helpful advice on starting your own staffing franchise, be sure to click on the link below or contact us today.