One of the best ways to get into business for yourself is with a franchise. But the advantages of a franchise can go right out the window if you start to tinker with its time-tested system. Are you ready for a franchise?
As many people will tell you, if you’re going to buy a franchise, you have to follow the system, a veritable operating manual you get with your purchase. The whole beauty of a franchise is the training and ongoing support you get with the system that has led dozens before you to long-term success. You don’t have to reinvent the wheel. That’s the whole point.
If you’re the type of person who likes to create your own systems, a franchise might not be for you. Whatever you do, you should figure this out at the start of your process. See for yourself if a franchise can be your ticket to a new career. Answer just five easy questions.
The 5-Question Test To Know If A Franchise Is Right For You:
1. Can you call for assistance when needed?
One of the criteria you use to choose a good franchise is the quality of their training and support. A good franchisor will help you through the start-up process, provide lots of suggestions and hold your hand along the way. Take full advantage of what you’re paying for. You must be willing to ask for advice. Then take it.
2. Can you accept paying franchisor royalties and other specified fees?
Successful franchisees consider the franchise fees more than a fair price for what they get: back-room expertise, a national brand, marketing and advertising, as well as ongoing support. If you’re going to resent paying royalty down the road, don’t buy a franchise!
3. Can you accept the franchisor’s advice?
A franchise requires you to accept a fully-vetted system designed to work a certain way. If you think you would prefer to create your own business based on your unique vision, you don’t want a franchise.
4. Do you want to be a part of a larger organization?
With a franchise, you join a team, and the franchisor requires each franchisee to present a consistent image to the public. You will need to follow the rules. Just as you will want other franchise owners to also follow established national branding.
5. Can you see yourself following the system? Is it a good fit for you?
If you don’t like the system exactly as it’s presented to you, don’t buy it. You can’t start tinkering with it later. Not only will it break the terms of your contract, but it may also reduce your chances of success. Not all systems will suit every person. You might find another franchise system that works better for you.
If you say yes to each question, you’re ready to begin your research to find the best franchise to match your skills, experience and interests.
Making a good match requires a willingness to do your homework. But, then again, so does running your own business. The good news is that when it’s your business, you get to reap the full rewards of your hard work.
Disclosure: This post is sponsored by a Work It Daily-approved expert. You can learn more about expert posts here.
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