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Print ArticleEvery day I spend significant time on the phone, exchanging e-mails or speaking in person with contractors and other interested business people advising them as they explore their options about investing in a franchise. This is a core foundation of my livelihood — I recruit, and help grow, franchisees for a living.
And not to give in to clichés, but my best advice consistently is “if the shoe fits — and it feels good, and it will add value to your life — then buy it.”
But make sure that it’s the right shoe for you. And equally important, that you are the right fit for the “shoe.” Entering into a franchise agreement is like a marriage — if the fit is right, it is wonderful. However the opposite can also be true for both parties so careful consideration by both the franchisor and prospective franchisee is crucial.
There are a number of key benefits to franchising to consider:
- A tried and tested business format (someone else paid the “tuition” to find out what works);
- Established brand recognition;
- Management assistance, advice and training;
- “Being in business for yourself, but not by yourself.”
In comparison to other ways of getting into business, franchising improves your chances of success significantly — even so, the shoe must fit.
