Do you plan to buy a franchise?
Do you plan to buy a franchise? Does your action list include buying a franchise?
There is no question that the economy is getting stronger and more people are ready to take the risk of owning and operating their own business and enjoy its rewards. The first and important question to answer is “where do I start?”
To help answer the question “where do I start?” I have put together a two page document. This PDF looks at the three options available to a new business owner. These options are to start their own business, buy an existing business or buy the rights to a local franchise.
Making this first decision and getting it right is important. Becoming a new business owner takes time, money and a lot of soul searching. Without exception I have noticed that most buyers have a limit to the amount of time they are willing to invest as they find the process too complicated and/or too long before they get discouraged and simply give up. If you would like to read and use the PDF I’ve put together and presents your options, you are welcome to click on the following link: Business ownership – what are my options?
Advantages of a franchise
There are many advantages to buying a franchise compared to starting a business from scratch or buying an existing business. Some of these advantages include:
- A selection of many different franchise concepts. This allows the franchise buyer to find a concept that meets their many needs including the right industry that appeals to them.
- More and readily available finance options for a qualified buyer.
- Initial and ongoing training to increase the chances of success.
- Operations, technical and sales & marketing support.
- The franchise buyer is able to verify the success of the franchise system before making their final decision.
Not all business owners like the idea of working in a franchise. Some of their concerns include paying a monthly royalty and feeling as though they are being told what they can and cannot do from “Corporate” or head office.
It’s my observation that those that work best in the franchise system are those that come from corporate America and have a highly developed set of skills. It may be in sales & marketing, operations, finance/accounting or a specific industry such as manufacturing, technology or retail. Using their highly developed skill set they are able to target a specific franchise and use their skill set to be a top achiever in the franchise system.
Buy from a position of strength
Something I encourage all franchise buyers to do is make sure any decision to buy a franchise is the right one for you and you do this from a position of strength. This involves doing as much reading as possible and understanding their personal strengths so they have the right fit to successfully own and operate a franchise. To help understand these strengths and a method to qualify the right franchise, I provide a consulting service that allows you to review your options and find the best franchise that works for you. This process starts by having you complete and return to me a Confidential Qualification Profile or CQP. The CQP is an 8 page document that breaks down different information to help find the franchise that will work best for you.
If you would like to look at this document and fill it out to meet with me be it over the phone, via Skype or in person, click the following link: Confidential Qualification Profile.
What different franchise concepts are available?
There are many franchise concepts in many industries. Everyone is familiar with the fast food franchise concepts such as McDonald’s and Carl’s Jr. or the auto repair franchises such as MAACO and AAMCO or hair cutting concepts such as Great Clips or Sport Clips. However, there are many more options be they in fast food, retail, service industries and more. If you would like to look at the different types of concepts including your own search, please click the following link: Franchise concept options
The many steps to buy a franchise
There are many steps to buy a franchise. If you want to see a one page summary of the steps to buy a franchise, click the following link: The Many Steps To Buy A Franchise
Need more information?
Still have questions and need more information? If you would like to know more, you can immediately download a copy of my book by clicking the following link to my website: Successfully buy your franchise.
If you have questions or need additional help, use the following link – Send Email or give me a call on 916 570-2674 and we can schedule a time to talk about your goals.