Beware of the Ambush

Beware of the ambush. What am I talking about with an ambush? Most people who dream of independence find a business that captures their interest however in a few days they lose that excitement. Well, when we start thinking about franchise ownership, we find these ambushes? come in three different types.?

Is Your Family On Board?

One, you start to look at a franchise and you find something that's starting to capture your imagination. Maybe it's a possibility and you're starting to get some information on it and you are just in the early stages. In our first meeting you tell me that your spouse is on board and that they are 100% behind it. I’ve talked it over with my spouse and he / she says it’s my call. Whatever I want to do is fine with them.

But when you start to do the process, when you get more information, and when it’s becoming real you are going to maybe find objections and doubts. Maybe they haven’t been included in the process or you need to bring the whole family in to talk about it, but there may be doubts. If this is the case you are going to lose interest pretty quickly, because you don’t want marital problems. The task of business ownership becomes complicated by marital disagreement and what was promising now appears impossible.?

Don’t Get Ambushed by Your Good Friend

The second ambush is your good friend. For example, you tell your friend that you are going to do this business and that you are going to give up your job, because you found the right franchise for you.? They might say to be careful, because they know a person who did something like that and they failed.? They didn't make the money they thought they were going to make. Your friend might have your best interest in mind, but they don't know your assessment. They don't know the franchise you're looking at. They haven't spoken to any other franchisees and done any kind of due diligence or research. So, where are they getting their information from? Why are you trusting them??

Do Your Research

The third ambush, when researching franchise ownership, is the internet. You might be out there looking around and you find a great franchise, but you might read a story about how someone failed with it.? You are always going to find failures in every franchise, McDonald's, Burger King, they all have failures. It’s very unusual to find one with no failures.? So, make sure you are doing the research, because if 95% of the people succeed, maybe you are like them.? Maybe you are like the people you visited and succeeded and maybe you are not like the people who failed.? Remember, you can always say no, but at least do the research.?

When purchasing a franchise, don't get ambushed early on by a spouse, a good friend, or surfing the internet. Go out and do your own research and find out what works for you. I’d love to help, please feel free to reach out.