Research by the Franchise Advisory Centre indicates there are several key motivating factors for the decision to buy a franchise. While most of these factors will be present for different people’s decisions, the relative importance given to each of these will vary from one person to another, resulting in unique combinations which might arrive at the same destination, but take different paths to get there.
These key decision making factors are:
• Lifestyle
• Brand security
• Self-direction
• Income
• Skills developmentLifestyle
By far the greatest factor in the decision to buy a franchise – weighted at 33% – is the perception that franchising will provide an improved lifestyle. Rarely will two people agree on what lifestyle actually is, yet it seems to be something that the overwhelming majority of new franchisees and small business owners value and want. Read on…