Franchise options abound in today's economy. However, a closer look reveals that not all franchises are created equal.
Working in the franchise market has various advantages, including certain recession-resistant brands, inexpensive start-up costs, and little overhead. Furthermore, working your own hours and making your own decisions may provide you with a richer quality of life.
I'd like to share the story of one of my successful franchisees, Hernán B., with you. Below are his thoughts.
Question: What were the top three things (characteristics) you were looking for in a business?
Answer:
- Owner role: semi-absentee
- Low franchise fee
- Few employees
Question: Did you experience fear/hesitation/anxiety at some point? When? How did you deal with it?
Answer: No
Question: How valuable did you find talking with franchise owners? Anything especially surprising or interesting? Did you find them or change to something else?
Answer: Very Valuable
Question: Did you feel well equipped at the start of the validation process? If not, what could you have known before?
Answer: Yes
Question: When did you know that this was the right franchise for you?
Answer: After I talked to existing owners.
Question: Do you think you would have found this business without my help/guidance?
Answer: I don’t think so. I tried.
Question: What did you think about the unique perspective I gave to you being an experienced multiple-unit franchisee?
Answer: It was great because it gave me the confidence you knew about being a business owner.
Question: Now that you have gone through my process, What advice would you have for someone thinking about owning a franchise?
Answer: Evaluate as many franchises as you can. Make sure you understand the role of the owner. Talk to all of the existing owners.
Let me help you find your path to franchise ownership. Please schedule a quick call with me.
