Mistakes To Avoid… When Investigating A Franchise

When investigating a franchised business, make sure that you have a game plan for your investigation, make NO assumptions, and think proactively. Here are some pointers:

• DO NOT ASSUME that the franchisor is trying to SELL you a franchise. The strong companies AWARD franchises and have a solid qualifying process.

• BE PREPARED to demonstrate to a franchisor that you have the qualifications to build their franchise.  In particular, show the franchisor that you have the ability and willingness to learn their system.  Learn a lot and ask many questions.

• EVALUATE THE FRANCHISOR and make sure that they are giving you access to the types of information you need to evaluate the match between you and the respective business.

• KEEP YOUR INITIAL DREAM BURNING BRIGHTLY and do not let the “boogie man (or woman)” dampen your enthusiasm for achieving your goals.

• DO NOT CONFUSE “getting information” with “making a commitment”. NO decent franchise company is going to sell you a franchise, just because you ask for information.

• BE VERY CAREFUL with regard to who gives you advice, and from whom you seek advice. Many bright candidates ask the WRONG individuals for advice.

• GET OUT FROM BEHIND YOUR COMPUTER!!!!!!! Talk with franchisees. Visit them when you can. Meet the home office executives. Your investigation will be more productive, fun and informative.

• STAY POSITIVE AND STAY OBJECTIVE! Remember WHY you started investigating franchises in the first place.

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