How To Succeed As The First Franchisee

Entrepreneur.com:

Every franchise system has a first franchisee. Whatever you want to call this person – the groundbreaker, the pioneer, the scout or the guinea pig – it’s still someone who’s putting his or her treasury at risk to build a successful business.

And as important as success is to the first franchisee, it’s even more important to the franchise company. Their future growth will depend to a great extent on the validation and results of the first franchisee.

As a first franchisee, you have to be a very special type of person. You must be much more accepting of risk than a normal investor. Bold and brave, you should also be the type of person who’s willing to deal with a more fluid situation, where changing and adapting to unforeseen circumstances is a welcome part of business development. The first franchisee is usually a true entrepreneur and, much more so than later franchisees, is a partner with the franchise company in the development of the franchise system.

Full article.