There’s a Perfect Franchise Match for You

Though the franchising landscape is always changing based on consumer trends, economic shifts and market saturation, the interest in franchising as a viable business ownership path is stronger than ever. And after many years as a franchise consultant, I’ve come to see some common threads between the most profitable franchise owners out there.

Franchise consulting is all about getting to know the client and asking the right questions in order to learn what motivates him/her in a professional capacity. While I believe there’s a perfect match out there for every qualified potential franchisee, there are many things to take into consideration before making such a huge decision.

I was recently featured in the Milwaukee Journal-Sentinel where I provided 10 key considerations a prospective franchisee should think about before making the leap:

• Take into account three key factors: your spouse/family, your lifestyle, your money.
• What is your availability to do a guided and thorough research project?
• Do you know which financial “levers” you can pull to leverage and scale an investment?
• What is your ROI (return on investment) goal? Is it purely financial, or does it include lifestyle factors?
• Do you have business management experience, and what do you love/hate about running a business? Be as honest with yourself (and with me!) as possible.
• If you have no business operation/ownership experience, what personal and professional skill sets are you most confident in and most in need of?
• Upon meeting the franchise executive leadership team at “Franchise Discovery Day,” do you believe they are upholding standards of business practice that give you confidence?
• After attending “Discovery Day” with your spouse, do you collectively believe that this investment opportunity will allow you to achieve your short- and long-term goals?
• Have you been given the opportunity to talk with a franchise attorney, to review the final documents and agreements?
• Final gut check: Are you ready to make one of the most life-changing decisions to take control of your future? You should feel steady, albeit with nervous anticipation.

For the rest of the story, click here to read it online.

Ready to take the next step with franchise ownership? I’d love to help. Learn more here: http://www.megschmitz.com/