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Things to Consider When Exploring Franchise Ownership

Have you thought about what it takes to go into business for yourself? Here are some things to consider when exploring franchise ownership.

Before getting started on your search for a franchise it is important to examine your knowledge of franchising and what is most important to you in a franchise. If you don’t understand what you’re looking for or why it’s going to be pretty hard to find. It is much easier to find if know the right questions.

First off, there are thousands of franchises? And no, they are not all in the food industry. If you go to the Franchise Search page on my website you will get a list of all the different industries that are available. Have a look around there and see if anything sparks your interest. We’ll wait for you. Ideas and curiosity should be flowing through your head right now, but let’s stay focused just a little while longer.

Many think that they can just buy a franchise and let someone else run it, which is possible but unlikely, at least during the startup phase. Some think that because it’s a franchise, it will be easy “….build it and they will come”. Well, the truth is, it is easier than starting a business from scratch, but the advantage of franchising is the business and process have all been tested and proven. Running a business is demanding! It takes a ton of determination. It takes discipline and emotional strength. It requires realistic expectations and patience. Franchising is not a get-rich-quick scheme. It’s a get rich faster, with a lot less risk plan. Are you really prepared to ride the waves knowing that it may not be a smooth ride? If your answer is yes, keep reading.

What are you buying with a franchise? Do you know the answer to that question? Most people think they are buying a brand name. Of course, that has something to do with it, but it is NOT the primary reason you purchase a franchise. You are buying a system. You are buying someone else’s education and experience. You are investing in a tested proven system to save you the tens of thousands of dollars in “trial and error”. You are buying an instruction manual on how to execute every single aspect of your business well, the first time around. This is the invaluable advantage of a good franchise.

One of the questions I often hear is; “Well if I can figure it out for less than what I pay for the franchise fee, I’d still be ahead,”. I call this the I don’t know what I don’t know variable of starting a business. The number one reason why small businesses fail is inadequate startup capital. Well-meaning business owners think that starting a business will cost them a set amount. Most don’t account for the ridiculous amount of unknown expenses that they were totally unaware of at the time of their planning. And rightly so, if you are unaware of someone’s presence in a room, would you make a note of them being there? Of course, you wouldn’t. You didn’t know they existed. This is the pivotal error that is next to impossible to plan for and yet takes so many business owners to the bankruptcy court. This is what you are paying for when you invest in a franchise, freedom from that frustration and disappointment.

Now, if we haven’t scared you off and you understand franchising a little better, think about all the things that you would want to have in your business. Close your eyes and picture your perfect life. What kind of business would you run? What kind of hours would you work? How much money do you want to make? What type of customers do you want? How many employees do you need? What could you do that would make you feel amazing at the end of every day? A good tip here is to think about what you currently enjoy with your job, life, etc., and also what you currently complain about. These are things that you’ll want to include, and/or exclude from your dream business.

Ready to get started? From here ex[ploring franchise ownership becomes much simpler, go to our GET STARTED page and Complete the Personal Profile form and one of our team members will contact you directly to assist you with all the resources you need to get started on your path to franchise ownership. The award process can be quite stringent but don’t worry, we’ve been through this a couple of hundred times and know exactly how to help every step of the way.

And if you are just tire kicking and looking for information, that’s ok too. We’ll still help you find what you need and get you on your way. Our goal is to make everyone that reaches us better off after they’ve had contact with us. It’s all about helping people succeed. That’s the point of what we do.

Have you thought about what it takes to go into business for yourself? Here are some things to consider when exploring franchise ownership.

Before getting started on your search for a franchise it is important to examine your knowledge of franchising and what is most important to you in a franchise. If you don’t understand what you’re looking for or why it’s going to be pretty hard to find. It is much easier to find if know the right questions.

First off, there are thousands of franchises? And no, they are not all in the food industry. If you go to the Franchise Search page on my website you will get a list of all the different industries that are available. Have a look around there and see if anything sparks your interest. We’ll wait for you. Ideas and curiosity should be flowing through your head right now, but let’s stay focused just a little while longer.

Many think that they can just buy a franchise and let someone else run it, which is possible but unlikely, at least during the startup phase. Some think that because it’s a franchise, it will be easy “….build it and they will come”. Well, the truth is, it is easier than starting a business from scratch, but the advantage of franchising is the business and process have all been tested and proven. Running a business is demanding! It takes a ton of determination. It takes discipline and emotional strength. It requires realistic expectations and patience. Franchising is not a get-rich-quick scheme. It’s a get rich faster, with a lot less risk plan. Are you really prepared to ride the waves knowing that it may not be a smooth ride? If your answer is yes, keep reading.

What are you buying with a franchise? Do you know the answer to that question? Most people think they are buying a brand name. Of course, that has something to do with it, but it is NOT the primary reason you purchase a franchise. You are buying a system. You are buying someone else’s education and experience. You are investing in a tested proven system to save you the tens of thousands of dollars in “trial and error”. You are buying an instruction manual on how to execute every single aspect of your business well, the first time around. This is the invaluable advantage of a good franchise.

One of the questions I often hear is; “Well if I can figure it out for less than what I pay for the franchise fee, I’d still be ahead,”. I call this the I don’t know what I don’t know variable of starting a business. The number one reason why small businesses fail is inadequate startup capital. Well-meaning business owners think that starting a business will cost them a set amount. Most don’t account for the ridiculous amount of unknown expenses that they were totally unaware of at the time of their planning. And rightly so, if you are unaware of someone’s presence in a room, would you make a note of them being there? Of course, you wouldn’t. You didn’t know they existed. This is the pivotal error that is next to impossible to plan for and yet takes so many business owners to the bankruptcy court. This is what you are paying for when you invest in a franchise, freedom from that frustration and disappointment.

Now, if we haven’t scared you off and you understand franchising a little better, think about all the things that you would want to have in your business. Close your eyes and picture your perfect life. What kind of business would you run? What kind of hours would you work? How much money do you want to make? What type of customers do you want? How many employees do you need? What could you do that would make you feel amazing at the end of every day? A good tip here is to think about what you currently enjoy with your job, life, etc., and also what you currently complain about. These are things that you’ll want to include, and/or exclude from your dream business.

Ready to get started? From here ex[ploring franchise ownership becomes much simpler, go to our GET STARTED page and Complete the Personal Profile form and one of our team members will contact you directly to assist you with all the resources you need to get started on your path to franchise ownership. The award process can be quite stringent but don’t worry, we’ve been through this a couple of hundred times and know exactly how to help every step of the way.

And if you are just tire kicking and looking for information, that’s ok too. We’ll still help you find what you need and get you on your way. Our goal is to make everyone that reaches us better off after they’ve had contact with us. It’s all about helping people succeed. That’s the point of what we do.