How to Become a Franchisee
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
Before you invest in a franchise, you need to do your homework. Investigate the following key points:
- 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
passionfor 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.