Are you thinking about franchise ownership? Well, franchise ownership isn’t for everyone, and it’s perfectly okay to say no. But the question I have for you is, are you saying no prematurely and robbing yourself of what could be one of the best opportunities of your life? The way I look at things is going through the franchise exploration journey is a learning journey, not a buying journey, and you will get to learn a lot about yourself and a lot about different businesses. Before you say yes or no, let’s look at a couple of things.
Doing Your Research
When you look at the actual time of research, it should take you about 15 hours a week of active research time for about 10 to 12 weeks. You’re learning from the franchisor what the different components are; you’re talking to existing franchisees, and you’re understanding the various components. I talk about this in another video – how much money you can make, and what is the work it takes (to make the money). By going through all that research, only then can you decide at the end, do you understand enough about the business? Do you have the skills and the resources to run that business well? And most importantly, are you ready to take on the commitment and all of the things that are involved in launching and growing a business?
Making a Decision
Remember to treat this as a learning journey. Get to the end of that journey, after you’re informed, then you can make a defensible YES or NO decision. And sometimes no can be more of a “not now”. Maybe you feel like, “I’d like to do this, but it might be two or three years from now”. Maybe you are feeling like you have done this research and now you know this is the wrong business. You could ask, what are my other options? This is the journey that I help people go on. I’ve worked with over 2000 people and I hope to have the opportunity of working with you to explore your options. Book a call and let’s get a conversation underway.
