Key Questions Before You Dial into a Franchise
California Job Journal:
Before buying a franchise business, a great many issues must be considered. If you pick the wrong franchise in haste, you could be regretting the decision for a long time to come.
To help you avoid some of the major pitfalls, we have identified ten factors you should consider carefully in your decision about whether to become a franchise owner. The list has been compiled by some very experienced franchisees, and all the information is based on direct experience, near misses, and stories we have heard ‘from the trenches.’ We hope that by reading this article, at least a few people will be prevented from making a very costly error in judgment.
How would your franchise business be affected by economic ups and downs?
All economies are cyclical and, as recent history has shown, there are times when global, national and local factors result in economic slowdowns which can last many years. What impact will a change in the economy have on your prospective business? Typically during difficult economic periods, luxury products and services as well as nonessential goods and services will suffer more than those seen as cost-saving or essential items and services.How dependent is the franchise on a specific type of area or socioeconomic mix? Read on…