4 Areas to Consider with Franchises
1: Proper expectations
2: Know the players
3: What’s in it for you
4: Vetting Franchises
Setting Proper Expectations
“Figuring out what the best franchises are is actually… not that simple. That’s why most people don’t do it.””Instead, they end up buying on emotion, believing in the sales materials and only having a few conversations with other franchise owners. That’s it.”
“In our opinion, this is not the safest or best way to invest one’s life savings.”
Especially when there IS a way to understand the information and increase your odds of success. With so much at stake, we would think that more people would pay closer attention to their investments, but that ends up not being the case.
Can you answer these questions?
- How much will it cost?
- How much money can I make?
- How quickly can I make it?
- What are other people saying about it?
- How will I be supported?
- Can I see myself doing this?
To reliably predict the viability of a franchise, you MUST work with a trained professional who has legitimate information.
- There is simply no way to understand the complexities of franchising if you are not working in this business every day.
- A professional is someone who understands franchise evaluation & business viability.
- Most people in franchise sales have NEVER been trained on what it takes to actually evaluate a franchise.
- Most franchise brokers NEVER owned a business!
- A professional is someone who has access to and can analyze what is known as the Federal Disclosure Document (FDD)