FOUR TIPS FOR BECOMING A FRANCHISEEIf you want to become a franchisee, the tips below c

FOUR TIPS FOR BECOMING A FRANCHISEE

If you want to become a franchisee, the tips below can help you to find the perfect opportunity. BE FOCUSD ON YOUR PREFERENCE. On the stage of decision-making, the bottom line is: Don't rule out a business without learning or seeing what the day-to-day will look like. For instance, think about a mom returning to the work force who knows she wants to interact with children on a daily basis. Among the hundreds of options there, she needs to decide if she would like to be hands on as a teacher or if she would rather manage a facility that tutors children in math. Deciding between the two is easy if she considers which day-to-day position she would prefer and how that will impact her other goals. BE PROACTIVE WITH YOUR RESEARCH. After you've determined what role you want in a franchise, it's important to start researching different options. Physically visit many different franchise locations and browse the web and then determine what will be a fit in your community. Make sure the franchisor has experience. Before signing on to a franchise, it is essential to ask the franchisor about the executive team and its past industry experience. Find out if the company leaders have had significant experience at another franchise and are now applying that knowledge successfully. READ THE FRANCHISE DISCLOSURE DOCUMENT CAREFULLY. The first thing to look at is how much a franchise would cost to purchase. Make sure you have a financial advisor who can look at that item with you and see the type of profit a franchisee can make on average. It's also important to take a look at the post-termination clause in the agreement to make sure that when you want to leave the business, you know the terms well and your interests are properly protected.

1. Decide on a business with learning or seeing what the day-to-day will look like.() 2. Before you've determined what role you want in a franchise, it's time to start the business.()

3. Before signing on to a franchise, the essential job is to ask the franchisor about the executive team and its past industry experience.()

4. The first thing to look at is how long a franchise would take to purchase.()

5. To make sure that when you want to leave the business, you have made enough money and you are satisfied with that.()