Buy A Franchise
Buy A Franchise
First of all, consider what type of business gets you really excited and passionate about. If you had all the money in the world to start up your own business, what would you do? You might think that McDonald’s is a fairly secure franchise to buy into, but if the idea of selling hamburgers doesn’t get your juices flowing, it might be best to opt for something else.
Second of all, once you’ve determined the industry that you want to venture into, try and think about what kind of operation you want to run. Do you want to deal directly with hoards of customers? Or do you want to operate in a more business to business fashion, out of the reach of customers?
Third of all, whether you want to interact with customers or companies, what kind of environment do you see that happening in? If the smell of fried meat makes you sick to your stomach, again, McDonald’s is probably not your best bet. Think about whether you like the smell of oil – the Jiffy Lube franchise is showing promising signs – or if you’re happy most working inside the confines of an office. Even still, do you need to work from home to look after the children? Should it be a flexible, part-time opportunity instead of something that might consume you day and night, seven days a week? Environment is a key factor to think about before you buy a franchise.
Once you’ve figured out your dream venture, the next step is to try and answer that all important question: how are you going to finance this business? Do you have any investments you can cash in on? Can you take out a loan from the bank? How about from the bank that is your family? Chances are you will need whatever financial resources you can draw upon at all.
What is important to remember in this process is to do your homework. Never take anything at face value without doing your own research. And, never take the first opportunity that gets you excited; if it sounds too good to be true, it probably is. Take your time and evaluate all the options. Don’t commit unless you’re completely satisfied with your options; you won’t be able to get out of a bad agreement too easily.
When you decide to buy a franchise, you should think of it as buying a friend for life. There will be ups and downs, but hopefully, if you have chosen wisely, it will all be worthwhile.
Buy A Franchise - To learn more about this author, visit Cynthia Gleeson's Website.
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Before you buy a franchise, you need to be clear about who you are and what you want to get out of such a venture. Unlike popular belief, running a franchise is not the easy way out of starting from scratch. It takes just as much work to operate successfully as does your own startup. So, before you find yourself head deep in a new business, you best be sure it is the right move for you.
First of all, consider what type of business gets you really excited and passionate about. If you had all the money in the world to start up your own business, what would you do? You might think that McDonald’s is a fairly secure franchise to buy into, but if the idea of selling hamburgers doesn’t get your juices flowing, it might be best to opt for something else.
Second of all, once you’ve determined the industry that you want to venture into, try and think about what kind of operation you want to run. Do you want to deal directly with hoards of customers? Or do you want to operate in a more business to business fashion, out of the reach of customers?
Third of all, whether you want to interact with customers or companies, what kind of environment do you see that happening in? If the smell of fried meat makes you sick to your stomach, again, McDonald’s is probably not your best bet. Think about whether you like the smell of oil – the Jiffy Lube franchise is showing promising signs – or if you’re happy most working inside the confines of an office. Even still, do you need to work from home to look after the children? Should it be a flexible, part-time opportunity instead of something that might consume you day and night, seven days a week? Environment is a key factor to think about before you buy a franchise.
Once you’ve figured out your dream venture, the next step is to try and answer that all important question: how are you going to finance this business? Do you have any investments you can cash in on? Can you take out a loan from the bank? How about from the bank that is your family? Chances are you will need whatever financial resources you can draw upon at all.
What is important to remember in this process is to do your homework. Never take anything at face value without doing your own research. And, never take the first opportunity that gets you excited; if it sounds too good to be true, it probably is. Take your time and evaluate all the options. Don’t commit unless you’re completely satisfied with your options; you won’t be able to get out of a bad agreement too easily.
When you decide to buy a franchise, you should think of it as buying a friend for life. There will be ups and downs, but hopefully, if you have chosen wisely, it will all be worthwhile.
Buy A Franchise - To learn more about this author, visit Cynthia Gleeson's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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