Hello!
With AI becoming increasingly prevalent in franchising, it's crucial for you to NOT use it when you're trying to match yourself to the right franchise.
Translation: go at it old-school.
Now, I'm not going to get into how AI really works in today's VIP Franchise Newsletter. You can study it yourself if you want.
What I AM going to do is boil franchise matching, researching and buying into 12 simple steps. Here they are.
What Are The Steps To A Successful Franchise Match?
1. Determine why you want to buy a franchise.
2. Learn about the franchise business model.
3. Make sure you are 100% comfortable following rules.
4. Use a net worth calculator to determine your net worth, so you can figure out your budget for a franchise.
5. Put together a list of your top skills.
6. Create a list of your dominant personal traits.
7. Search for franchise opportunities that closely match your top skills and dominant personal traits, then make franchise matches based on those things.
8. Request information from the franchisors that seem to match up.
9. Do thorough research on the franchise opportunities you’re interested in.
10. Determine how you’re going to fund your venture.
11. Write your business plan.
12. Arrange an in-person visit to franchise headquarters to meet the team and see the operation first-hand.
Hire a franchise attorney to go through the Franchise Disclosure Document (FDD), and the franchise agreement.
Make your decision.
Open your franchise business!
P.S. if you'd like my help with any of those steps, go here.
Till next week,
The Franchise King®
Joel Libava
216-831-2610
"Infuse your life with action. Don't wait for it to happen. Make it happen. Make your own future. Make your own hope. Make your own love. And whatever your beliefs, honor your creator, not by passively waiting for grace to come down from upon high, but by doing what you can to make grace happen... yourself, right now, right down here on Earth."
- Bradley Whitford
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