Let’s face it most of the good franchise profitable opportunities are already taken in the past. But you still here is a franchise? What and where can you look? In my opinion, what’s new, what’s hot, it is possible to latest and greatest. Is it a fad,proper drainage . the ability to grow, that is behind it?
First you’ll want to find what you’re interested in. Remember you might spend more hours running your individual businesss than you’ll at home. So it better be something you want and something which is affordable. Don’t put your life’s fortune, your property, all your family members at risk for a franchise. Don’t roll the dice and risk all this. Make sure you leave your fall back position.
Once you end up picking a franchise research your options. Start with the franchisees who may have stores on the market. This is done for two main reasons, first, you can find a better deal buying existing over a new store. Also, you’d like to know why these are getting out. The number one reason is usually they may be not so that it is. They will show you all the issues with the franchise, some true, some not. The more franchisees you speak with that are selling, the higher quality questions you might develop if you approach this franchise to try and do a new location.
When you have ended your fact gathering quest, discuss the main people running this franchise. How long provides the CEO, President and COO been on this company? Has there been consistent turnover towards the top? If so wii sign. Has the company moved too many times to different states? Usually a sign of complications with that state, also negative.
Support is a big and important issue. What type of training how about and how long? Do you get help if you open a store? Do they have an excellent marketing system and do they really funnel enough take advantage to marketing the idea? Strong support or lack there of says to you a lot in regards to company.
New store growth could it be a steady 10% or could it be not there? Every good concept must have some section of positive growth. If so many people are selling their stores, also a bad sign.