You have wanted to be your own boss for a very long time. However, every product you can think of to develop for sale seems to have already been developed by someone else. You don’t have the techie skills to design the newest hottest app, and all the other good ideas appear to have already been taken. But you’re not ready to give up on your dream, so you give a thought to franchising. Here we discuss the pros and cons to help you make your decision.
If you were to purchase a franchise, you speculate, you could be your own boss.
If you are looking to buy a franchise and have read my post on “How to Vet a Franchise,” you will most certainly want to know the 2017 Top 500 Franchises according to Entrepreneur Magazine. Check out the Entrepreneur Site to see the entire list and how they determine their rankings
When I was in my late twenty’s, I had a horrible experience buying into a popular franchise concept. I am a lover of all things business and have been self-employed most of my adult life. After my sour franchise experience, I have investigated hundreds of franchises trying to find just the right thing. At this point I consider myself a franchise investigation pro. Here are the questions you need to know to ask in order to properly vet a franchise.
I am a former owner of a Creamery franchise. I had never owned a franchise before and I did not do the proper amount of due diligence or ask the right questions. I paid dearly for those mistakes. Please read my story here as I had a true franchise nightmare.
If you’re looking for a business opportunity which allows you to jump on board with an established brand and work to a tried and tested formula, a franchise could be the perfect solution for you. There are all kinds of business opportunities out there online, most of which start with something along the lines of ‘”Make a Ton of Money an hour from your front room.” Guess what? If it looks to good to be true…it probably is.
With a new-store opening cost between $1,000,000 to $2,000,000, Rebounderz Indoor Trampoline Arena Franchise is not for the faint of heart. Still, Franchisee Chris Bouma from Grand Rapids, Michigan is happy with his franchise choice and tells us, “It takes an incredible amount of time and quite a bit of business savvy. You will work harder than you ever have, but it is also exciting and rewarding at the same time. Be prepared to answer about a thousand questions every day. You’re the boss and you need to be able to make decisions quickly and move on.”