How to choose a franchise
Basic things to remember when deciding on a franchise to buy.
By: Armando Bartolome | Jun 14, 2012 10:00 am
Q: What should one keep in mind when choosing which brand to buy a franchise for?
A: The first consideration should be to find a business model or concept that best suits you. As much as possible, choose a concept you really like or have a passion for. This would make it easier for you to succeed because if you enjoy running a business, you really wouldn't mind spending your time taking care of it.
Another thing: a lot of people have a misconception that once you open a franchise store, the money will start rolling in as a matter of course. This isn't the case at all. You as a franchisee must really learn how to run the business; you need to familiarize yourself with the various nuances of its operations.
It's highly advisable to talk to other franchisees before making your choice of franchise. What is their relationship with the franchiser like? Are they getting the right amount of support from the mother company? Are they satisfied with the business model?