When choosing a franchise, it is recommended to make a list of characteristics that describe you as a potential partner. These qualities can be added to the ready list.
"I have the skills..."
"I have knowledge in...".
"In my city..." Assess the location of the enterprise and the radius available for management. Proximity to the business center will facilitate control over the activities of the franchise business.
"I have money... I can also doctor data package attract...". It is important to analyze whether the available funds are enough to open or whether it is worth considering the option of attracting additional investments (from where and how much).
"I can devote... hours a day/week/month to the franchise business." Objectively assess whether the company can continue to operate without you during a vacation or illness.
“I am working with a realtor to find suitable premises, and a lawyer will provide the necessary support…” Analyze business connections and consider how they can be useful in starting and running a franchise business.
"I am passionate about..."
"I am aiming for an income of ... rubles per month." Earnings should correspond to market conditions. For example, if the income from a franchise business does not meet expectations and does not exceed the profit from a bank deposit, then perhaps it is worth considering other options. Approach the choice objectively and compare expectations with the conditions offered to avoid potential disappointments.
“I love and am ready to do…” Find out your desires and preferences to understand whether this work will bring you joy.
"I get irritated by...". Compare the activities in which you do not feel satisfied with the tasks that the parent company will set for you. It should be understood that all support from the franchisor is accompanied by responsibilities for you: they will find premises, you are responsible for its repair; they will give recommendations on the selection of personnel, interviews are your concern; contracts with suppliers will be provided, but the placement of initial orders and purchases lies with you.
"I am inspired by..."
“My goal is to start my own business and not be tied to an employment relationship because…” If you are focused on gaining knowledge, then buying a course would be a better option than choosing a franchise. If you like the support measures provided by the franchisor, then this is the perfect product for you.
"If it doesn't work out, I'll do...". How upset will you be? Consider how it will affect your finances. Buying a franchise with your last money can be a risky move.
What skills are needed when choosing a franchise