|
Technology| Free Advertising Forums|
SBA Articles| Terms of Use| Security/Privacy| Software| |
|
Home| Business Services & Products| Books & eBooks| Success Stories| Contact Us| Link to Us |
|
|
|
Home based business
opportunities-Free html courses-Bookstore-Software-Make Money online and
offline |
|
“ Your Home Business Knowledge Center”
Benefits-Benefits-Benefits |
|
|
|
|
|
|
How To Select A Franchise Opportunity That Clicks!Andrew Adama There is no question that there are clear guidelines to considerwhen shopping for a franchise opportunity. There are personalguidelines for you to consider on your end...and there are
certain
elements you are looking for in the franchisor, too. Your own personal checklist might look like this: * I have enough money or can borrow enough money to meetupfront franchise fees and ongoing fees for at least 18 months *The day to day operations in this franchise are in sync with howI'd like to spend my time * The day to day managementresponsibilities are harmonious with my strengths and talentsand skills * The person at the helm of the franchise opportunityis of strong reputation and likeability * The culture of thefranchise opportunity is in sync with my own values and style *I believe that the future of the franchise opportunity combinesvision and practicality * The structure of the organization,(public, non public, or soon to go public) is one I findacceptable * I know how many hours I'm willing to invest weeklyin the business Of course there is a checklist regarding the franchisor, too: * The franchise organization is financially healthy * Thelitigation history is acceptable and has been explainedsatisfactorily * The organization has had consistent franchisegrowth * The organization has a strong Franchise Owner'sAssociation that works in concert with management * Managementshows an openness to new ideas * Earnings Claims are availableand satisfactory, or if not available, franchisees are willingto help you to understand the financial picture * Franchisorrequires franchisees to work the business full time or not. Ineither case, that meets with my criteria * Franchisor is clearon its support of multi-unit opportunities or not. In eithercase, that meets with my long term goals for the business As part of your Due Diligence, you should also: * Review the franchise's Uniform Offering Circular (UFOC) *Interview a varied group of franchisees with a list ofpre-designed questions * Visit a local franchise unit or two *Visit the organization's headquarters and meet with keymanagement And while I fully acknowledge the necessity of researchingcarefully and asking all the right questions...at some point adecision needs to be made. And the decision, in my mind, comes down to the "Magic Click" * Does this opportunity feel like the right "fit" for me? * DoI feel comfortable conversing with management and fellowfranchisees? * Can I see myself becoming a member of thisfranchise family? A leader within the organization? * Can I seemyself having fun while managing this business? * Do I see avalues and personality fit with the key players? * Do I seemyself growing side by side with this franchise? * Are myinstincts telling me this is the right business organization forme? For years I put my head together with prospective franchiseeswho were examining our system for its solvency and its future.My sales team and I answered question after question on theirrespective checklists. And here's what I learned for sure: When it came down to thefinal decision, I often asked my prospects to check into theirhearts and to check into their guts. In fact, I reminded themthat they had made many big decisions in the past in this way. Because the truth is this: The partnership between franchiseeand franchisor needs to "click!" And it needs to "click!" for both parties. Trust me...if there's any magic answer to look for...it's theone about "the click!" When it's there, you know it, and you have a good chance ofworking successfully with this franchise organization. Please give that good thought before you sign on the dotted line. --------------------------------------About the author:Andrew Adams writes for http://www.magfranchise.org where you can find out more about franchising and other topics.
|
|
|
|
|
|
|