The hardest questions to ask when buying a franchise
There’s one thing you should do before anything else when considering buying a franchise.
Before you think about the type of franchise that appeals to you. Before you get caught up in all of the fantastic freedoms and financial rewards. Before you get in touch with the franchises themselves.
You need to ask yourself: “Am I ready for this?”
Are you ready to give up the security of a monthly salary? Are you ready to invest your life’s savings into a franchise? Are you ready to put your heart and soul into a new venture, and work harder than you’ve ever done before?
If you are, then great. Franchising can bring you the success you desire. Just like it has for the hundreds of successful francisees i have placed through-out the years.
Franchising a Business – The Family Aspect
Okay – So YOU have asked the important question to yourself. But is your family ready for it too? Your decision to buy a franchise will affect everyone around you – for better and, on occasions, for worse. Of course, they’ll appreciate the time you have to spend with them and the money you generate to spend. But will they support you in the days when you’re banging your head against the wall, and when you’re cursing all those salaried employees who can forget about work at the weekend?
Because that’s the reality of any business owner’s life. And that’s why the most important questions to ask when buying a franchise should be directed at you and your family.
Think very hard about the reasons you want to become a franchisee too. Think about what you are prepared to sacrifice and what you want to achieve. Franchising might be an easier way of getting into business for yourself. But that doesn’t mean it is easy.
And being honest with yourself isn’t easy either.
It’s why you need to carefully undertake your own self-assessment. You have to really know your strengths and weaknesses. And because the most important questions to ask when buying a franchise are very personal and introspective, you should ask the opinion of those people closest to you as well. Those people you trust to give you an honest answer, but not necessarily the answer you want to hear!
If you are considering buying a franchise, then please give me a call. I am here to help you. I have over 30 years of franchise consultant experience and will save you a lot of time, money and energy. I offer FREE CONSULTATIONS and will help you to better understand YOUR goals and how buying a top franchise can help you!