1. Research how franchising works
The very first thing you should do is become educated on how franchising works. Franchises have a better success rate than most start-ups, and there are hundreds to choose from but they’re not for everybody. Most successful franchise owners are good at following a system, if you’re the type of person who likes to do things your own way, a franchise may not be the right choice for you.
I’m really enjoying the blog found at KiddieAcademyFranchising.com. Their latest post, What Do Franchisors Look For In Franchise Candidates, is a great read, and touches on a subject that is important and often overlooked. As you search for the perfect franchise opportunity, you need to know what it is that makes for a strong fit into any system that you are considering being a part of. This is not just for your benefit, i.e. another way to gain insight into whether this opportunity will lead to success for you. No, you are also being evaluated every step of the way.
With the Dow dropping over 1,000 pts (8.4%) in a 4 day span, every American is reminded that not only are we not out of the recession, there’s no telling when this roller coaster ride is destined to come to a stop. Its a very helpless feeling, for sure. If you have thought about buying a franchise before, leaving whatever security that comes with your job and jumping into the unknown is appearing to be less and less a smart move.
If fitness and business are two of your passions, purchasing a health & fitness franchise will offer you great earning potential while doing something you love and maintaining a healthy lifestyle. People are constantly obsessed with their health and looks, and a franchise that focuses on fitness, healthy eating, vitamins and supplements is a good way to start a money-making venture and help people reach their goals.
If you are considering becoming a business owner, you’ve probably convinced yourself that working 80 + hours a week is your destiny, and that you are more than willing to take that on if that’s what it takes to be your own boss. While the work schedule as you now know it may be a thing of the past, it doesn’t necessarily mean you must commit to lifestyle where you will constantly feel the need to come up for air. In fact, your long term success could very well hinge on how well you balance your work schedule with your family and personal life.