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5 Tips for Taking Over a Franchise A Kumon franchisee shares best practices for entrepreneurs who are considering a franchise takeover.
If there's one thing that Latha Pattisapu knows, it's math. She fell in love with the subject as a child and went on to double major in math and physics at her university in India. Upon graduation, she volunteered for a company that designed standardized tests. After arriving in the U.S., Pattisapu decided to take a break and focus on raising her children.
In hopes to instill that same early love for math in her children, she enrolled them in the Kumon Program when they were just three and four years old. Their Kumon Instructor discovered that Pattisapu had a strong background in math and asked if she would be interested in becoming a volunteer assistant at the center. It was the same instructor that eventually encouraged Pattisapu to look into opening her own Kumon Center. It was obvious that she had a bright Kumon future ahead of her.
When Pattisapu began looking into Kumon as a business opportunity, she was offered the opportunity to take over an existing Kumon Franchise location that was for sale. Fast forward to 2018 and Pattisapu is now the proud owner of her own Kumon Centers.
With eight years of franchise ownership under her belt, Pattisapu offers, in her own words, five pieces of advice for individuals that may be interested in taking over a franchise.
1. Gain the confidence of your current customers.
Immediate, consistent and quality communication is the key to taking over the operations of an existing business. When a business changes hands, it can be unsettling to current customers, which is why I wanted to get in front of it. I actually worked in the center for four months prior to becoming the official owner. My first goal and objective was to get to know each and every student that was enrolled at the center and establish a line of communication with the families. It's imperative to keep your current customers happy and I believe one of the easiest ways to do that is to be open and honest. I wanted all of the enrolled families to know my background, my passion for quality education and the vision for my Kumon Center.
2. Ingrain yourself within the community.
Small businesses are the backbone of communities. As a business owner, it's imperative to root yourself within your community. There's a face to every business and you need to make sure that your community knows your face and recognizes that you care. For me personally, I've connected with the local school corporations, I built trust with school board members, I participate in local youth activities and I've developed relationships with members of the local government. In fact, the town's mayor typically attends the award events I coordinate for my students. Showing that you care goes a long way to making a difference. This will make your franchise takeover much more successful!
3. Know your product and believe in it.
Find a business that you are passionate about and that you truly believe in. I've always had a passion for math and fell in love with helping students achieve a high level of academic success, which is why Kumon was an easy fit for me. Whether you are starting from scratch or taking over a business, you must have knowledge of your product, but it's even more essential in a takeover because existing customers expect the same or better level of service from you. This isn't something that can be taught in a business class or overnight in training. There are no shortcuts to gain that knowledge. You must be willing to roll up your sleeves and be ready to work. Communicating the benefits of your product is essential to your success, and working in the business as I did and having my kids in Kumon was an excellent path for me to truly learn about Kumon.
4. Commitment, commitment, commitment.
My currently enrolled families, along with members of the local community, can see the passion that I have for Kumon. I cannot stress enough how important it is for any business owner to establish and maintain a certain level of commitment. I truly care about each and every one of my students and have set out to help them reach their maximum potential. It's the most rewarding and challenging career I've ever had. I am committed to influencing future generations. When you take over a franchise, your success will be directly tied to your commitment.
5. Conduct target marketing.
It's important to remember that not all businesses are the same. You may read a lot of business related articles and believe you are going to run and market your business one way, but at the end of the day, you have to listen to the market you are in. What works in one community may not work in another. It took me quite some time to figure out what will work for my specific market. Instead of forcing your vision upon the community, take the time to get to know the market and what your customers want.
Visit kumonfranchise.com to learn more about the Kumon franchise opportunity or call (844) 480-1575.