Is a Franchise Right for You?

Ask yourself the following questions…

What are my goals in buying a franchise? (ex. build and empire, get out of my job, build income streams)

What are my strengths that will help me achieve these goals?

Do my strengths compliment a franchise business partner?

What are my weaknesses that will hinder me from achieving these goals?

Will my weaknesses be mitigated by a franchise business partner?

Am I ok with achieving success alongside a franchise business partner when compared to achieving that success on my own?

 

What is the perfect franchise for you? The perfect franchise is one that puts you in a role you enjoy. It will maximize the contributions of your strengths while providing support in the areas you are weak. It will also let you achieve your goals in a manner that is much more time efficient and profitable than you doing it on your own.

This doesn’t directly answer the base question though, is franchising right for you? This is ultimately a question only you can answer. Each of the perfect franchise benefits above come with a value proposition that is specific to you, and each franchise comes with a specific cost in terms of franchise and royalty fees. If the value they provide you based on your skills and goals is greater than the costs of bringing a franchise system on as a partner, then it is right for you!

If a franchise system is replicating your strengths, not supporting your weaknesses, or you are just the type of person that is unhappy achieving success that you have not built on your own, then franchising is not right for you.