Thinking of Buying?
It is important to note that before taking the time to evaluate a franchise, it is essential to first ensure that you are prepared to work with a Franchisor. To help you assess your readiness to do this, ask yourself the following questions:
- Do you know your skills, strengths and weaknesses?
- In light of this knowledge, do you believe that operating a franchise is the right form of ‘self employment’ for you?
- What are the types of franchises that interest you? Make a list -Franchise Central can assist you with this.
- Have you investigated these enough to determine that they have a future, particularly in view of current economic and social trends?
- Have you decided to work the franchise in partnership with someone? Do you know their skills, strengths and weaknesses and are these compatible with yours?
- What about the members of your family? Are they willing and able to help/support you in this venture?
- If you plan to operate the franchise on your own, do you have confidence in your ability to manage all aspects of the business?
- If you will require assistance in the setting-up stage, does the franchisor include the cost of staff in the financial calculations for the franchise?
- Are you confident that the level of training and support provided by the franchisor will be sufficient for your needs as a franchise business operator?
- What exactly is your reason for acquiring a business? New challenge? Job replacement? Asset building? Boredom? Family involvement?
- Do you have the stamina and perseverance to run a business?
- What exactly do you want to achieve over the next ten years? Security for family? Cash flow for other investments? Empire-building? Capital gains? Property investment portfolio?
- What sort of working conditions can I tolerate? Noise, food odors, cold, hours, pressure, physical demand, outdoors, customers, etc.?
- What is your asset position? Equity in house? Cash reserves? Shares, bonds, etc.?
- What type of business suits your personal style? Would I wear a tie? Am I comfortable telling friends I own a fast food outlet, a car detailing business or food shop?
Owning a franchise or business is a great way to become self-employed with a proven business system and with the support of experienced operators. With vast experience and dedication, Franchise Central can provide you with assistance in choosing the right franchise or business for your specific and personal requirements.
Franchise Central can specifically help you:
- Find the most suitable franchise/business amongst the great variety available;
- Evaluate a franchise/business before you buy to ensure it is viable and that it is realistic to expect it can achieve what you want it to;
- Negotiate with the franchisor/owner to ensure you receive the best deal possible;
- Assist in the application to a franchise/business to improve your chances for success.
- Assist in business planning and cash flow projections of the proposed franchise/business.
- Arrange your financing in the most appropriate way.
Are you ready to MAKE THE MOVE?