Finding a suitable Franchise
A Look At Yourself
establish what you want to do. Do you want to work in an office,
from home or from a van ? What did you enjoy most about previous
jobs? Try to establish what business types really interest you.
If you are doing something that you enjoy you will stand a far
better chance of success.
this stage, when you are just commencing your search, it is
important to keep an open mind and establish the basics.
normally suggest that you start with taking a long look at yourself.
examining franchise opportunities it is important to establish
exactly the nature of the role that you as a franchisee would
be required to carry out. Sometimes it is possible to dismiss
an opportunity too easily. e.g The role of a franchisee
taking out a cleaning franchise is to manage the business, take
on new customers etc but not to do the cleaning.
is also important to understand that you may not be acceptable
to a company that operates in a field where you have previous
experience. e.g - A print franchisor will almost certainly not
take a trained printer as a franchisee. The role of the franchisee
is such that he will employ a printer but the franchisee's role
is much more management, customer liason and selling based.
the various franchises on our site and other franchise publications.
Ask for brochures of the ones that interest you, still keeping
a relatively open mind.
examining the various brochures and before drawing up a shortlist
to go and see try to establish:
- Does the product
or service interest you and fire you with enthusiasm?
- Does the company
have name awareness?
- Has sufficent
market research been carried out?
- Does it have
a successful operation and marketing system?
- Is it a viable
- Do you understand
the role you will play?
- Does the role
match your skills. If not does the franchisor provide training?
The above represents the initial starting point. A great deal
of further research will be required before you finally satisfy
yourself that you stand a good chance of being successful by
purchasing a particular franchise.
all once you have found a franchise that you are serious about
make sure you talk to franchisees who are already operating
the business. They will normally be only too pleased to help,
as they were in your situation once. Equally,
when you take up a franchise you are entering in to a long term
partnership with the franchisor it is therefore vitally important
to check the background & business performance of your prospective
never fails to amaze us how many people are prepared to take
on a franchise without carrying out the necessary research with
which to make an informed decision. Be prepared to pay for professional
advice from franchise lawyers and accountants, you will be making
a decision that you will have to live with for some time.
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