Discover the exciting and rewarding business that’s perfect for you
Despite the economy investing in a proven Franchise can help you achieve better financial rewards and greater career satisfaction.
But with so many options how do you know the type of Franchise that’s right for you?
Understandably you may have some concerns so here’s some great guidance to make the best choice possible.
‘Is it really me?’ The success of running a Franchise is as much to do with passion, ambition, drive and motivation as it is about the actual business side of things. With expert training support and guidance most Franchises can provide the different aspects to help you…but they can’t provide you with the core drivers within you.
The ‘round peg, square hole’ springs to mind! It’s no good looking at an opportunity that doesn’t inspire or excite you…because you won’t ever have the same incentive especially during the early part of growing your business. Think about what resonates with you, what you enjoy and then investigate what type of Franchise would really suit you.
‘Can I justify the investment?’ It’s natural to want to be sure as much as possible you’re making a wise investment in a Franchise and if you’ve got funds from redundancy, inheritance, savings, etc then it makes it more personal and emotive.
When completing your research on the types of opportunities that fit your needs and inspire you, don’t be tempted just to make your decision on the initial investment. Look deeper at the other elements such as how soon can you expect to make a profit, what are the average earnings, is the management fee on a percentage of earnings or a fixed monthly fee, etc.
These are all things that will help you to assess the longer term achievement of the opportunity to give you a good return and healthy income.
‘How will it fit around my family?’ If you have other commitments such as family then it’s not necessarily just you to consider when choosing a Franchise. It not only has to fit around your family but must provide you with an appropriate work life balance.
Therefore, it’s vital to know more about the industry of any Franchise you’re considering as well as the Franchise itself. Things like trading hours, travel, International communication, etc all need careful consideration to make sure the Franchise you choose gives the optimum balance for you and your family.
‘Will it meet my aspirations?’ Sometimes people don’t actually know what their true aspirations are and so it’s difficult to know if a Franchise will meet them. As the saying goes…‘if you don’t know where you’re going any road will lead you there’.
A good place to start is to write down what your aspirations are to help you assess which Franchise will be the best one to meet them now and in the future.
‘Can I cope with being my own Boss?’ A mighty question and one that should cautiously excite you! Owning a Franchise is the perfect balance of having greater freedom than working for someone else and the confidence of knowing you’re not on your own. In other words you have the support and guidance when you need it.
Unlike someone who works on their own and has to deal with difficult decisions often on a daily basis, when you run a Franchise you can avoid the pitfalls and stresses because it’s a proven business system you’ll be following.
As with anything in life, you get out what you put in, and with a proven Franchise you can look to a very exciting future.