Top Ten Tips For Aspiring Franchisees

The Irish Franchise:

1. Am I suited to going into business for myself?
Can I commit myself to working hard and taking all the responsibilities of running a business? Am I healthy and able to work hard and long hours? Do I want to invest my hard earned cash/capital into a business? Will I have the support of my family?

2. Check finance available to invest
Setting up a business is a risk, although franchising should minimise it, but you must be aware that things can go wrong and if you borrow money you may well be left with debts to repay.

You therefore need to be very comfortable with how much of your own money you invest and how much you borrow.

3. Research Franchising as an Option
Although buying a franchise is usually a lot easier than starting from scratch it still entails hard work and commitment. Understand how franchising works – look at specialist franchise magazines and literature, search franchising on the web, and attend franchise seminars and exhibitions.

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