How to Choose a Franchise

Thought you might be interested in the article How to Choose a Franchise and thought I’d share a few points with you here. I’ve found some relevant information here so if I find more, I’ll be sure to pass it on.

Franchising can be a great sector to join, especially now when it is seeing an all-time high in terms of revenue as well as providing a record number of jobs.

Personal finance

• Your personal finances will indicate what you can afford, this will allow you to look for potential franchises with a budget in mind.
• Your personal finances will help you decide how to fund your idea. You will have to consider using personal savings, bank loans or there are also plenty of other methods of funding your small business that you can look into.
• Consider the working capital. You need to be aware that at the very beginning you are not likely to be making much profit, and you may need funds when setting up your business.
• Also consider, how much money will the franchise make for you? Is it going to sustain your lifestyle?

Franchise opportunity

• Look at the training, support, expectations and guidelines that will be given to you by the franchisor.
• Speak to current franchisees, this will allow you to get a good insight into what it is like to run a franchise.
• Communicate and seek advice from franchisees that are similar to you in terms of background/ lifestyle/ location.

If you want to keep reading with any of that content, by all means, click here.. Please feel free to contact me on (0401) 763 563 or email at [email protected] for any thoughts and perspectives.

Thanks,

Meron