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:

...

[Continue Reading at SavingAdvice.com]

This entry was posted in Investing, Making Money. Bookmark the permalink.

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!

  3. Pingback: My Personal Financial Internet History: Articles For February 2, 2007 » Silicon Valley Blog About Money

  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?

  5. Pingback: Carnival of Entrepreur - February 14, 2007 | Pick the Brain - Getting Smarter Every Day

  6. Chris says:

    Your last point is very important. Many prospective franchisees don’t think about exit strategy. Are you going to sell the business or pass it on to your kids? Any prospective franchisee should take a look at the transfer provisions including transfer fee requirements.

  7. 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.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>