You only need to choose one franchise to invest in, but there are over 4,000 different franchises to choose from. That makes searching and investing in the best franchise quite challenging, especially if you don’t know how to do it or even where to begin.
You can attempt to go it alone and search for the right franchise with a few online tools you can find with a Google search, like these:
Option 1: Personality Tests
There are several online quizzes that may help you decide whether franchising is suited for you. However, they are not vetted, scientifically sound tests. Therefore, there is no certainty that you will make an excellent franchisee if one of these tests predicts that you will.
Option 2: Online Listing Platforms
There is a multitude of websites that list franchises for sale. These can be useful for learning the varieties of available franchises but should not be used to make a final decision on your investment.
Solution: Work with a Franchise Consultant
If you've never purchased a business before, you'll need a guide to make sure nothing is missed or overlooked when you're going through the process.
A Franchise Consultant is an expert that specializes in assisting you in locating the best franchise for you. They will assist you in defining your objectives, determining what you truly want to achieve through business ownership, and narrowing down the list of franchises that meet those goals.
In the area of franchise consulting, here are a few things to consider while looking for a consultant to help you on your road to franchise ownership:
- No list: Someone that gets to know you, has a process to get you where you need to go and doesn’t just hand you a list and send you on your way alone.
- Consulting experience: Select a consultant who has successfully matched franchisees with franchisors previously.
- Franchise ownership experience: Having a consultant who has owned and operated a business will bring invaluable experience to the table.
- A variety of franchise options: Look for a Franchise Consultant who can show you a broad range of brands that's a great fit for you not only in terms of price but also passion and goals.
Franchise Consultants, like me, act as unbiased resources to guide prospective franchisees through the path of achieving their dream of business ownership.
If you would like to talk about how I can help you, please schedule a brief call here.
