Franchise Business:

Take A Look At Yourself!

Firstly, establish what you want to do. Do you want to work in an office, from home or from a van ? What did you enjoy most about previous jobs? Try to establish what business types really interest you. If you are doing something that you enjoy you will stand a far better chance of success.

At this stage, when you are just commencing your search, it is important to keep an open mind and establish the basics.

I would normally suggest that you start with taking a long look at yourself.
What are your motives for becoming self employed?
What business and inter-personal skills have you got – break this down into detailed actions?
How motivated are you?

How prepared for you being self employed are your family?
How much money do you actually need to earn each month?
Do you have sufficient funds to meet cash shortages?
What you have enjoyed most about previous jobs?
Are you prepared to follow the franchise system even though you are self employed?
Are you prepared to go that extra mile to achieve success and are you prepared to work long hours when necessary?
How much finance are you able to raise?
Do you want to work from a van, office, home or shop
Do I mix well with people
Which business areas do i feel are my strengths and weaknesses

Answer these questions honestly, there is nobody else to fool other than yourself.

Drawing up a shortlist
It is important to keep an open mind and to not shut doors without investigating the various franchise opportunities properly.

When examining franchise opportunities it is important to establish exactly the nature of the role that you as a franchisee would be required to carry out. Sometimes it is possible to dismiss an opportunity too easily. e.g The role of a franchisee taking out a cleaning franchise is to manage the business, take on new customers etc but not to do the cleaning.