Searching For A Franchise? Don’t Complicate It
by FranchiseKing, Guest Blogger
- Created: June 17, 2014, 9:00 am
It’s easy to do. It’s easy to search for a franchise. Looking for a franchise...or even a couple of franchise opportunities to investigate isn’t hard. There’s no pressure. You’re just “looking.”
It only starts to get difficult after you find one or two franchise concepts that actually make sense to you. I’m talking about franchises that you can “see” yourself owning.
Let The Fun Begin
A lot of things happen internally when you start to see franchise opportunities that you can visualize owning.
1. Your adrenaline* levels increase. You start getting excited. More energetic. Nervous, too.
2. You change from “casual looker” to “would-be franchise owner.” Things start to feel a bit more serious.
3. You start thinking.
Don’t Complicate Your Franchise Search
Once you find a franchise you’re interested in, your wheels start spinning. You start thinking about lots of things. Like:
· Where can my new business go? What would be the best location for it?
· How many other franchises of the concept I’m interested in are there around my area?
· Will I be able to secure a small business loan?
· Will I make enough money?
· Could I lose all of my money in this venture?
· Will my family be okay with me buying this franchise?
· Should I just get a job instead of risking my money now?
· Etc. Etc.
None of those things matter. You’re complicating your search for a franchise.
First Things First
There will be plenty of time for you to ask those questions. But, you’re wasting your time, and a lot of energy, if you start asking yourself questions like the ones I wrote above before you find out if the opportunity you’re interested is even a viable one.
In other words, don’t put the cart before the horse.
Instead, do this:
1. Go to the franchisors website
2. Look for the “contact” link
3. Fill out the contact form
4. Wait to get contacted
5. Arrange a call with a member of the franchise development department
6. On the call, share your story-and listen to theirs
7. Decide if you’d like to continue learning more about the franchise
8. Follow the franchisors “next steps”
Take the steps
If you’re still interested in possibly buying the franchise, continue down this list. If not, start your search for a franchise again.
1. Call several franchisees, and ask questions like these*
2. Visit franchisees-spend a day with one or two of them
4. Find a franchise attorney
5. Visit franchise headquarters
6. Have your attorney look over the franchise agreement
7. Make your decision
It’s right before your decision that your wheels will be spinning. Sometimes, they’ll spin out of control. Things like self-doubt will creep into your head. Fear…real-live fear will also appear on your doorstep. But, don’t worry. It’s completely normal.
If you ask the franchise development director, the franchise executives at headquarters, and existing (and former) franchisees great questions, and their answers are satisfactory, it may be time for you to become the owner of the franchise you’ve been focused on for the past few months.
But, you don’t have to say yes. You always have a choice. Don’t complicate your search for a franchise-the right franchise.
Keep it simple. Go step-by-step. Don’t get ahead of yourself.
Are you ready to start searching for a franchise?
*Non-US Government links.
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