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If you’re looking to create additional streams of income, whether you are an employee, business owner or own commercial real estate, then a franchise might be an option.
When speaking to a perspective candidate, we recommend that you request a copy of the Franchise Disclosure Document after the introductory call. To help you use your time in the most efficient manner, here are the top 3 three items to target when reviewing the document
Last year, I spoke to approximately 2900 potential franchise seekers and the question I am frequently asked is, “Why should I use your services?” “After all, I can find my own franchise.”
Anyone can find a business but going through due diligence is a process that takes time, and you need tremendous skills to put all the pieces together, before any purchase is made.
When deciding to purchase a franchise, it’s important to know the in’s and out’s of the business before making any commitments; this allows you the best chance at success with your individual franchise. When franchises fail, it’s often because of poor planning.
Recently, I attended a local franchise opportunity expo. I wanted to see some new brands and meet some old contacts. The show was only a short 30 minute drive from my house and the fee was only $5, with free parking. So I figured it would be a good way to spend a Saturday morning.
Owning a franchise or a business opportunity are both viable options when making the decision to start a business. Before making any choice, you may want to gather as much information to differentiate what is the best selection for your needs. Listed below are the differences between a franchise or a business opportunity.
“Franchises that run by themselves” – what a great idea! Put that idea alongside body wraps that melt away fat while you watch TV and amazing exercise machines that can make you look like the muscular guy in the picture in just 10 minutes a day with no sweating. Amazing!
Running a franchise, like all small businesses is time-consuming. Who has time to read?
Good question. The answer is that if you don’t carve out time to reflect on your business, how you can do better, how you can manage people better, improve your sales, get back to being energetic about your business if busyness has sapped your strength, and other important questions that take thought and quiet time, you run the risk of burnout, frustration, isolation and going through the motions, otherwise known as a rut, commonly known as a grave.
Whether to run a franchise full-time or part-time is one of the first basic decisions you must make when you start thinking about franchising. Which you choose depends on a variety of factors. Like many other franchising decisions, it is a personal decision and people will come up with different answers for them.
If you are going to buy a franchise you are most likely going to need to borrow money. You will want to clean up your finances before applying for a loan because being turned down for credit can make future loans more difficult to obtain.
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