Joining a Franchised Network is a Business Decision
The required investment should generate appropriate returns but with one very important proviso. A franchise is not a passive investment. The onus is on the franchisee to maximise the ROI.
Before You Invest in a Franchise, You Need to do Your Homework
- Your suitability for the role of franchisee. Find out all you can about franchising before you move into this field because not everyone likes to work within a relatively rigid system.
- Your personal interests and your ability to fund the business. The franchisor will train you but unless you have passion for the sector, your success chances will be mediocre at best.
- The business sector’s current status and future outlook. It is generally not a good idea to enter a sector that is in decline, or where price cutting is rife.
- The stability of the franchisor and the standing of the brand in the marketplace.
- The prevailing vibe within the network – lack of enthusiasm for the brand and what it stands for can erode its success chances.