Questions to ask before buying a franchise
Buying a business is a big step and even if a franchise can be less risky, it's still a risk. When looking over purchasing a business there are not only questions you should ask the franchisor but also ask yourself. Here are a couple of things to ask yourself and questions to ask the franchise.
Questions to ask yourself~
Should you own a business? It's easy to think you can do a better job than your boss that you are tired of working for. It's another thing entirely to execute and run a business. Here are a couple of questions to think about.
What problem am I solving?
What are the alternatives if I don't start a business?
How are my finances?
What are the time commitments involved and am I willing to commit to it?
Questions to ask the franchise~If you have decided to go forward and you see a franchise in your future, here are a couple of questions to ask the franchise:
Tell me what kind of training and support you offer your franchisees?
What is a typical day in the life of a owner?
Tell me about your customer, what is the typical demographic that uses this service? Is that demographic in the area you want to develop in?
What are you doing to secure the best prices on products for your franchisees?
The best advice I can give my clients when looking at franchise opportunities, is don't assume anything, ask a lot of questions. You will often be surprised by the answers. Take your time doing your due diligence, it will pay
SSB Franchise Consulting offers one-stop shopping when you are searching for a business to call your own. We help you save time by working with you to learn your likes and dislikes and style of doing business then matching you with prospective Franchisors at no cost to you. To read more on if we're a good fit go to https://www.ssbconsulting.us/faq
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