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How to choose a franchise opportunity.

So many options are available when looking to own a franchise. Do you like hamburgers, gym equipment, coffee, kids or cars? It is all up to you when you choose a franchise opportunity.

Make sure you choose a franchise business opportunity that fits with your personality and interests. You will most likely be working for the next 15-20 years so make sure it will continue to hold your interest.

Choosing a franchise opportunity has many pluses that starting your own business does not have.

- 97% of all franchises are still succeeding after 5 years.
- The income varies, but typically makes from $100,00 to $150,000 yearly.
- The beginners guess work is eliminated.

Who has what it takes to be a successful franchise owner?

Well if you are wondering if you have what it takes to be a successful franchise owner. You are not the first. There are over 1500 franchise companies operating in the United States. All of those franchises have owners and all of those owners wondered if they had the personality and skill to flourish.

Feeling a little over whelmed now? Well do not be! There are a few key clues that you can be aware of to determine which franchise would be best for you.

Can you build good relationships with customers?

Do you enjoy working with people? Are you able to show empathy, and maintain a professional decision making process? You may have thought you could, but consider the fact that negotiation is a huge part of making the connection with your employees, vendors and customers.

Being a great people person is one of the first and most important assets of being a great franchise owner.


Can you ask for help?

The driver going 100 miles out of his way, because he refuses to stop and ask for directions is not going to be the best franchise owner. The motto of franchising is that you are in business for yourself, but you are not by yourself. It is your job to ask for help. There are many resources available to support you.

Do you want to take unnecessary risks?

Starting any kind of business has some risk. However, starting a franchise has considerable less risk. With the proven record of accomplishment of other locations, much of the unknown risks are eliminated. So, be willing to take a risk but do not worry about jumping off the bridge alone.

Do you have the expertise?

Though expertise is always helpful, it is not mandatory. If you choose a franchise you are interested in, are committed to working hard, and have the drive to be successful, you can do the rest.

Choosing a franchise for your new business is a very important decision. Most likely, you will be investing a great deal of time and money. Make sure you are staying within the financial limits you have budgeted. Also, allow for ramp up time during which you will not have a great deal of income. Caution and patients will pay off.

Do not sign agreements about franchise business opportunities without investigating them thoroughly. Read their litigation history and have an attorney review the agreement. You will also want an accountant. Investigation will help with your making the right decision for you.

Once you have gathered all pertinent information about the franchise, you are interested. You now have the necessary tools to get going. So, jump in and get those hamburgers fried.


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