Is a Franchise the right choice for you?

Since I am a Franchise Owner and also an Area Developer I can assure you there are benefits in joining a franchise.  I can also tell you that joining a franchise is not going to assure you success and without a solid understanding of the business model you are joining you are going to struggle and possibly fail.  This blog will hopefully educate some who are considering choosing a franchise or deciding to go into business for themselves and provide them with information and tools to help them in their new venture.

First if you are serious about purchasing a franchise you will need to determine what type and then learn which model, if any, are right for you.  There are several ways to go about looking for the right franchise among those choices are using a Franchise Consultant.  Just a quick warning concerning Franchise Consultants, all Franchise Consultants are not created equally and honestly very few know very much when it comes to choosing a right franchise for you.  They are trained to let you choose any franchise you want and get the quickest commission possible and go onto the next potential client.  You have to realize that a good number of these individuals have no real experience in franchising and have purchased a business model, usually around 20k, and are desperate just to make a sale.  If they happen into a sale they will be paid very nicely from the franchisers and once you are signed up have no interest in your success or failure.  I will go into this further but will advise you to steer clear of Franchise Consultants unless you are positive they can bring something to the table. 

As you start your search for the right franchise model you must realize that all franchisers are not created equally.  Many franchisers you will find today are brand new and with being brand new you have to determine if they will be around for the long haul or will they go belly up after taking your franchise fee leaving you high and dry!!!  You must take your time and do your research on each franchise model and after determining the franchisers is financially sound you then must go on to see if other franchisees are experiencing success or are there a lot of franchisee failure going on.  This can be tricky but with a little work and a number of phone calls to multiple franchisees you can start to get a feel for how franchisers are perceived by their franchisees.  Any concerns turned up while making these phone calls must be investigated and a determination has to be made if the concerns are real concerns or are they business owners blaming issues on the franchisers that in reality is their own mismanagement of their own business.

If future posts we will go into choosing the right business model and also what to look for in the franchise organization.  Untill then take care and keep searching there are a ton of great business opportunities out there today!!!

Published in: on May 31, 2010 at 4:40 am  Leave a Comment  

The URI to TrackBack this entry is:

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: