The Big Secret About Choosing A Franchise
Nov 16, 2022 2:46 pm
Hi there!
Here's the big secret about choosing a franchise to own...
When it comes to choosing a franchise that makes sense to own, there's no secret.
Instead, you just need to choose carefully and do great research. How?
Go slow and steady.
Then learn what you can about how franchising (really) works.
Do a net worth statement. Then come up with your budget.
Then, match your top talents to franchise opportunities that will allow those talents to shine.
Talk to 15 existing franchisees. Ask them great questions. Visit at least one of them in-person. Spend a day at their business. Observe and participate.
If franchisees are saying good things about the opportunity and are making good money as owners, schedule a visit to franchise headquarters.
Don't go if most of the franchisees are unhappy and not making money.
That said, if everything looks and FEELS right, hire an experienced franchise lawyer to go over the agreement and the FDD.
Then...and only then, make your yes or no decision.
For a few more details on what I just shared, read and bookmark these 3 articles:
How To Buy A Franchise, Step By Step
15 Crucial Questions You Must Ask Franchisees
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The Franchise King®
Joel Libava
216-831-2610
"The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way."
- Robert Kiyosaki