Anyone with experience owning their own franchise store will tell you, it’s not always smooth sailing. In fact, sometimes it seems like there are days when nothing can go right.
As strange as it may seem, however, these are some of the most important days you’ll face as a franchisee. That’s because how things go when things aren’t going well may be the best determination of a franchise’s overall worth.
That’s when you learn things like:
- The true downside to owning and operating your own business
- The amount of support you can count on from the corporate office
- How much you really enjoy being your own boss
With that in mind, let’s take a look at what a “bad” day looks like for one of the most popular franchise opportunities on the market: Cold Stone Creamery.
First, however, let’s examine a few of the problems you likely most likely won’t have to deal with as a Cold Stone® franchise owner:
- No problem attracting clients, as the brand is strong with tremendous customer loyalty
- No headaches advertising your location, as the company has co-op marketing support from professionals
- No hassle with pre-opening problems, as the corporate staff trains you on every aspect of the process, from finding a location to hiring a crew
One of the biggest Cold Stone Creamery® franchise problems you could face is that you find yourself getting behind when there’s a long line of customers. This can happen fairly easily, given the wide array of options available to every customer, and sometimes it will just seem like you can never get ahead of the rush.
All in all, though, that’s a good problem to have. Also, since the company will help guide you through the hiring process, you should have a good crew backing you up and helping you through the crunch.
It also helps that it’s hard to be angry when you’re waiting for ice cream.
Another potential problem – and one that can affect any business – is equipment failure. What do you do if your freezer breaks, ruining all the ice cream?
Luckily, if this were to happen at a Cold Stone®, as opposed to other franchises, it would be significantly less devastating for two reasons. First, ice cream represents a small investment with a significant profit margin. If, worst-case scenario, you lose all your ice cream, you really won’t be out that much, dollar-wise.
Second, whenever things go wrong in ways you don’t know how to handle, the corporate office provides franchisees with a toll-free help hotline. This means that, when things are falling down all around you, a helpful, experienced friend is just a phone call away.
Like any other business opportunity, there are some Cold Stone Creamery franchise problems. However, many of them are few and far between, and they’re not as likely to be huge blowups like you may experience with other franchises.
This is just one of the reasons why Cold Stone is becoming one of the most popular investment opportunities in franchising today. It’s a lower cost, low-drama investment that has potential for a serious ROI…and that’s a good problem to have.