Evaluate franchise opportunities
Before you can evaluate a franchise opportunity, you need to evaluate yourself first.
What are your hopes and dreams, your goals, both financial and personal, in owning a franchise? What are you good at? What do you like to do? What kind of lifestyle are you hoping to achieve by owning a franchise? Twelve-hour work days? Weekends off? Managing others? Doing the work yourself?
“There are all kinds of franchises in every sector of the economy,” said Susan Hancox, owner of Franchising Forte in Groveland, who counsels people on franchise opportunities. “It’s important to find one that matches your abilities and desires.”
Hancox said she takes a prospective franchisee through an extensive interview process involving the person’s work experience, managerial skills, financial skills, networking ability, marketing and operations experience. Different franchises will need different skill sets in the owner.
Leave a Reply