Bin There Dump That's Franchise Team looks at 11 mistakes made by in the franchise investigation process. From financial options, to investigating methods, you may be skipping on a wonderful franchise opportunity or investing in a poor franchise opportunity
11 MISTAKES YOU SHOULD AVOID INVESTIGATING A FRANCHISE
1. They Assume That the Franchisor Is Trying To SELL Them A Franchise:
BUT Good Franchise Companies Make Candidates Qualify To Own Their Franchise
2. They ASSUME That All Franchise OpportuniJes Are Valid, Protable & "Approved" By Somebody:
BUT This AssumpJon Isnt True. The marketplace makes these decisions. YOU ALWAYS HAVE TO DO YOUR HOMEWORK!
3. They Don't Keep Their IniJal Dreams Burning Brightly
THEY NEED TO Keep Investigating! If there is a roadblock you cant get around, seek advice from the Franchisor
4. They CONFUSE "GeVng InformaJon" With "Making A Commitment"
BUT Good Franchisors Will Encourage The Exchange of Information To See If Theres A Match
5. All Their INVESTIGATION Is Done Behind Their Computers
BUT Personal Communication Cannot Be Replaced
6. They Don't INVESTIGATE PotenJal Problems Thoroughly
THEY NEED TO Evaluate! Talk to ExisJng Franchisees And Take Notes!
7. They Don't VISIT THE HOME OFFICE When Opportunity Is Available To Them
THEY NEED TO Take Full Advantage of The Franchise Companys Discovery Day
8. They RUSH Into a Decision or DAWDLE To Go Ahead With the Purchase
THEY NEED TO Keep a Steady Pace to Your InvesJgaJon While Keeping Contact With Franchisor
9. They Dont ASK QUESTIONS About Themselves
THEY NEED TO Ask Questions Like: What Am I Looking For in a Business? Can I Build Equity With This Franchise?
10. They DONT CHECK OUT Financing Sources
THEY SHOULD Talk with your franchise consultant. Consider ALL possible sources of financing
12. INSTEAD Do Not Quit and Do Not Get SNIOPD (SuscepJble to the NegaJve Inuence of Other People)