Rebecca Monet is CEO and chief scientist of Zorakle Profiles and co-host of The Franchise Woman podcast Where Passion & Purpose Collide. Rebecca has been in the franchise consulting and psychometric assessment business since 1993. Known for her uncanny ability to draw performance correlations, she is fascinated with neurology, neuroeconomics, and human performance as it relates to business success. Monet is the inventor of the meta-analysis methodology used in Zorakle’s SpotOn! Profile and SpotOn! Eclipse Reports which categorically compare prospective franchisees to a franchise system’s top performers. The Zorakle tools have helped thousands of individuals desiring to own their own business find a right-fit franchise system. 

Rebecca joins us today to share her story and her expertise in the world of franchising. We talk about the benefits of franchising vs starting from scratch, such as lower risk of failure, group buying power with other franchisees, and easier access to funding. We discuss some of the things you should consider when looking into a potential franchisor, including your alignment with their values and culture, their stage of growth, and whether you might have a similar personality to other high-performing franchisees in the company. We also share some tips for success, such as having the right team to get you started, understanding that the franchisor is there to help you, and talking to other franchisees to get a feel for your potential fit before choosing a franchise.

“The tagline of franchising is ‘You’re in business for yourself, but you’re not in business by yourself.’” - Rebecca Monet

This week on SmallBizChat Podcast:

• Franchising vs starting from scratch
• What you need to know when considering franchising
• What sort of team you should have with you
• Understanding the sort of business knowledge needed to get into franchising
• Tips for success for franchisees

Resources Mentioned:

• Zorakleprofiles.com

Connect with Rebecca Monet:

• Rebecca Monet on LinkedIn
• Thefranchisewoman.com
• The Franchise Woman on Facebook
• The Franchise Woman on LinkedIn