Hi there!
Buying a franchise is a big deal.
That's because you may be about to invest a lot of your hard earned money in a business venture that doesn't have a 100% predictable outcome.
That's why I created a list of questions to ask yourself before you send in your money and sign your Franchise Agreement. I know you'll find them useful.
Here you go.
10 Steps to Help You With Your Decision
Use these 10 questions to help you make your yes or no decision about becoming a franchise owner with the franchise concept you've been researching. It's a final checklist, of sorts.
1. Have you learned all you can about the franchise concept?
2. Do you feel all of your questions were answered fully by corporate?
3. Did you get enough insight from the franchisees?
4. Did you attend an in-person Discovery Day at franchise headquarters?
5. Did your Discovery Day provide you with enough information on the company, its culture, and its support structure? Do you trust them?
6. Did you look at a couple of different financing alternatives?
7. Did you seek out and meet with qualified legal counsel?
8. Do you have money in place to live on (household expenses) for 6-12 months, during the lean times of your franchise start-up period?
9. Have you discussed a worst-case scenario? What if your business fails? How much will you lose?
10. Are you ready to put in the hours necessary to be successful
I encourage you to file these questions away for future use. They'll help you a lot!
Till next week,
The Franchise King®
Joel Libava
Work with me (click)
216-831-2610
"No matter what people tell you, words and ideas can change the world."
- Robin Williams
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