Trying to find the right franchise can be frustrating. After all, there are nearly 3500 franchises in the world today.
For most people, they have no idea how to determine if a franchise opportunity is right for them.
Finally, who do you trust?
All of this leads in two directions. You get stuck in what we call, “Paralysis by Analysis” or you just give up and look for a J-O-B (which is why you started looking in the first place). In either case, the major factor is fear or just lack of knowledge about the opportunity.
So what is a good shortcut to finding the right franchise?
Start by understanding your strengths and skills. This will save you time and frustration in the long run.
How bad do you want to be your own boss? Use our shortcut, it only takes about 10 minutes and you will learn your strengths, skills and more importantly what business culture is the best fit for you.
Did you know you can own a low cost franchise business where you actually enjoy working?
Low cost franchise opportunities do exist and offer a great introduction into franchising. These opportunities can be great for the candidate looking for something part-time, with minimal money to invest, can be a passive business, minimal or no employees and you can expand your net worth. In addition to being low cost, some are great recession resistant opportunities because businesses need more business in any economy.
An ideal franchisee is an outgoing professional who enjoys interacting with others. You should be comfortable making presentations to small groups, organized, and upbeat. You should enjoy working with people and have a willingness to follow a proven method is a MUST. After all you are buying a proven franchising system.
These opportunities can be run from your home office, a smart phone, iPad or tablet thus making it more affordable to get started. Start small and grow. All of the franchises have excellent support, cutting edge technology, some have high quality referral programs, award winning marketing programs and training to help make you successful. All of this is included in your franchise fee.
The ideal candidate may need:
Solid business background
Sales and marketing oriented
Decision maker and problem solver
There is a little known fact – many franchisors offer discounts for Veterans, Firefighters, Policemen, Emergency First Responders, minorities and multiunit discounts are available to those who qualify and can help stretch your investment dollars even further.
Were we being too hasty? We had only visited 1 franchise and there was one more like it we knew about. Why not look at the competitor? What was their corporate culture like? We seemed to fit in with Comfort Keepers. Calls were made to some of the franchisees, we asked my Dad, who is a CPA to look at their Profit and Loss and Balance Sheet for us and to give us questions to ask about the soundness of their company.
We still had jobs. We were beginning to hate what we were doing and how we were being treated. The thoughts of taking control of our lives was dominating our conversations. The fear of doing something new would always bring us back to the fact that we still had jobs. One by one our colleagues began to disappear. Mike and I realized the clock was ticking faster and it was time to say yes.