Buying A Franchise? Here Are a Few Things to Consider
When buying a franchise take some time to consider things like your lifestyle, skills, personality, temperament, likes and dislikes.
Most franchise agreements last from five to twenty years and there may be penalties for terminating your contract prematurely.
So they are a fairly long term investment...and even longer when an inexperienced entrepreneurs choose unwisely and tire of them.
How horrible would it be to lock yourself into something that simply doesn't fit your preferred lifestyle or personality just because the math looked so good to you?
Below is a list of things to consider before buying a franchise and investing not only your capital but also your life into a home based business franchise.
Ask yourself this question over and over when evaluating franchises..."Is this the Franchise that is right for Me?"
Then think about the following points:
1. My skills: Do I have the skills it takes to run this franchise smoothly?
2. My attitude: Do I believe in this…do I have a passion for it….do I enjoy it….could I do this every day for years to come?
3. My temperament: What would this type of activity do for my personality? Will it make the kind of person I want to be?
4. My sales abilities: Do I love to meet people in person or am I comfortable talking to strangers on the phone?
5. My physical fitness: Do I have the physical strength for this?
6. My stress level: Will I feel contentment and calm in this type job?
7. My ability to lead myself and others: Am I self-motivated? Am I a good example to others?
8. My likes and dislikes: Do I like the detailed jobs involved in running this franchise? What would be my favorite jobs and my most hated ones?
9. Do I enjoy office work? How much is there?
10. Would I prefer to work out and about?
11. Do I want to work alone?
12. Do I prefer to not be alone?
13. Do I enjoy dealing with the public?
14. Do I like to teach, manage and train others?
15. What are my weaknesses?
16. Will the franchise provide support in the areas I’m weaker in?
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