10 Key Questions To Ask About Franchises

FranchiseWhen people decide that they want to leave the corporate rat race and build their own business, they will often be faced with the choice of whether to purchase a franchise business rather than start from scratch. Franchises offer many attractive attributes including a business model that is already proven to work and much of the initial work already done. There are, however, a number of critical questions to get the answers to before you settle on purchasing a franchise. Here are ten important issues to consider:

Do You Love The Business? You will be living and breathing this business 24 hours a day, 7 days a week so it better darn well be something that you love to do no matter what it is:

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7 Responses to 10 Key Questions To Ask About Franchises

  1. yan says:

    Do you Understand the Restrictions?
    Have You Talked With Other Franchisees?

    These two explain why I still don’t own a franchise.

  2. Steven says:

    Talk to at least ten owners who have an existing franchise before you do anything. I have heard some horror stories especially WSI!

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  4. jersey jen says:

    i recently had an encounter with a “franchise opportunity”. i have an entry on my blog, may i ask for your recommendations?

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  6. Yan is right. You need to speak with franchisees of the business you are interested in and yes. you do need to be aware that you must follow the franchisors formula.
    That doesn’t mean that you can’t find a franchise that will suit your needs exactly.
    Find a good Franchise Directory with News and Articles and a Blog and find out as much as you can. Don’t jump-in. Research thoroughly before you make your choice and you could make the most rewarding decision of your life.

  7. Fran says:

    A great article, I recently summed up a similar article not too long ago. I think that one of the main things people need to look out for is consistent franchiser benefits that will put the franchisee in a position of leverage should they be disheartened with the franchise. Would you agree?

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