Posted by: Admin Post on November 7, 2009
Author: Brad Swanson
Before you decide which franchise you're going to choose, you need to take a while to consider your five year goals - this is in respect not only to the financial aspect, but also, your own life goals as well. Are you someone who doesn't want to be tied down to the area, who enjoys traveling? Then you'd want a more hands off operation. Are you someone who would rather have that involved approach to things? Then you may find that you have other options even still.
When you look into a company that you may be working with, you may want to make sure that you know how they do things. Talk to other franchisees who are currently succeeding, find out what they feel about it. Get a personal perspective of things from those who are still with the franchise, and are doing well with it. These are the people who can tell you the truth about the company and about the way that it handles business, as well as how it works out on a quality of life level.
In addition to those things, you also need to think about your overall goals- do you feel like this is something you can see yourself still doing five, even ten years down the line? Are you willing to commit your time and energy in the beginning to making things work? These are all very reasonable questions to ask yourself and a place where many seeking a quick buck fall short. Understand, like any business, a franchise still takes a little time, a little knocking on doors, no matter what it is you choose to do- start ups are generally a little slower than some anticipate. Being ready for that, can prevent you from getting frustrated or giving up before you've even really began to see the progress you hope for.
Many make the mistake of seeing franchises as an almost instant business- and in some respects, they can be, but this does not mean that there isn't start up time needed. Franchises also take a little time to get their bearings and get things rolling, and being prepared for that can mean the difference between success and failure. More often than not, understanding that it is just another form of business start up, and one where you may have some advantages, yes, but you also still have the effort and commitment involved makes everything go much more smoothly.
Being able to take a look at your goals and the quality of life aspect in franchising is just as important as any other detail. Being able to assure yourself that it really is your business- and something you want to continue on doing helps, yes, but also, consider how much effort and dedication you also feel you can handle. There are as many franchises out there as there are goals of potential franchisees, so finding the right fit for you is usually just a matter of making sure you have those goals in mind before you set about looking.
Starting a business and being your own boss is an exciting venture, but it should not be taken lightly. Proper support for your business is very important. Check out an example of a real franchise and how they run by visiting FiltaFry or Learn about Filta.
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Author: Brad Swanson