When you think of an entrepreneur, what vision comes to mind? Is it of someone who developed an innovative idea and starts a business from the ground up? Owners of startups are clearly entrepreneurs, but what about franchise and small business owners? Apparently, some debate exists about whether franchise owners (in particular) fit the definition of an entrepreneur since they didn’t come up with the original business concept. While there are key differences between startup and franchise owners, we believe they share many more similarities – making them both entrepreneurs. We take some commonly-held beliefs about entrepreneurs and apply them to franchise owners.
Entrepreneur, Defined and Expanded
, we have a broader view of entrepreneurship, and believe all business and franchise owners are entrepreneurs. The dictionary
definition of an entrepreneur is “a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.” This precisely describes franchise owners. They manage all aspects of their business, from hiring and operations to sales and prospecting. Franchise owners have all of the characteristics of an entrepreneur
, including passion, initiative and the willingness to take on risk.
Entrepreneurs Think About the Big Picture
Entrepreneurs have to manage the day-to-day aspects of the business, but they also have to think about the big picture. BirthdayPak franchise owners are encouraged to think about the larger organizational goals
and their important contributions to them. They bring new ideas through collaboration and think long-term about the future direction of the company. At the franchise level, this may also mean opening new mailing zones, hiring staff and planning for the next day, week, month and year.
Entrepreneurs Take Risks – Or Do They?
Do you think franchise owners play it safe because they have a rulebook to follow and support
? Franchising may be more of a calculated risk, but there is always some risk with any investment. And the risk may be greater with an emerging, less established franchise
. Even if the franchise is well-known and operating with a proven model, building and growing a business comes with challenges and requires hard work.
The opposite point also can be made – entrepreneurs are risk-adverse
. Before starting a new venture, they fully understand the risk and potential returns and conduct thorough research and due diligence
Entrepreneurs Are Passionate
This statement is 100% true of business owners, and BirthdayPak franchise owners
are some of the most passionate people you’ll meet! They believe in the product, get excited about it, and this passion spills over to our business partners and communities. Their passion drives them forward – and adds to the persistence, collaboration and dedication needed to bring success.
Ready to Be an Entrepreneur?
Whatever your idea of an entrepreneur – did we describe you? If you’re always thinking about the next big idea, a goal-setter
, dedicated and passionate, then entrepreneurship within a franchise system may be right for you. Start with the Top 10 Articles for Potential Franchise Owners
and contact us
to schedule an introductory phone call.