Paul Flick, the CEO of Premium Service Brands, is a leader in home services franchise opportunities. Franchise support is crucial for new entrepreneurs as they navigate the challenges of leaving the structured corporate world and pursuing success on their own. Small businesses are the foundation of the American economy, with about 33.2 million in the U.S. and 806,270 of them being franchises. Franchise business models provide new entrepreneurs with a proven track record, brand recognition, training and ongoing support in exchange for an initial investment and regular royalty fees.
Many Americans have considered starting a business, with 42% expressing interest, and 55% of Gen-Z and Millennials having a side hustle. Moving from the structure of a corporate environment to entrepreneurship can be daunting, but having a network of franchisees to rely on can help streamline the process and lead to success. Transitioning from an employee to a business owner can be challenging as there is no longer a set structure or someone overseeing your work. Moving forward, it is important for franchisees to establish a business owner mentality, choose the right franchise, and lean on their support system for guidance and training.
Paul Flick launched his first franchise business, 360° Painting, in 2005 and has since grown it to approximately 136 locations across North America. Through setbacks and challenges on his entrepreneurial journey, he has learned valuable lessons that he now shares with new business owners. The top challenge he sees new entrepreneurs facing is the transition from being an employee to owning their own business. Franchisors should be invested in the success of their franchisees, and it is important for new business owners to attend Discovery Day and conduct validation to ensure they are partnering with the right company.
Creating a business plan, setting clear goals, and adopting a positive attitude can put franchisees on a fast track to success. Partnering with a company that shares your vision and values is crucial, as is leaning on the training and ongoing support provided by franchisors. Premium Service Brands offers on-site guidance and support for struggling franchisees, helping them navigate challenges such as hiring and retention, funding, and customer lead generation. Through the nurturing of determination and drive in its franchise owners, Premium Service Brands has become a driving force in the home services industry.
The support and training of an established brand can streamline the entrepreneurial journey of franchisees, putting them on track to achieve self-sufficiency and financial freedom. Premium Service Brands is now the franchisor of nine home service brands, including 360° Painting, and continues to empower franchise owners to succeed in the competitive industry. Forbes Business Council is a leading organization for business owners and leaders, providing growth opportunities and networking for those looking to expand their businesses.
