Here are top tips from www.franchisingmatters.com, it’s easy in 1, 2, 3 essential steps…
- IDEA
- PLAN
- FUNDS
IDEA. In the same way that you don’t just want to sit around and wait to be hired, why wait for that business idea to strike? Think about setting up a franchise instead and get inspired by some very successful and proven businesses which have already taken their product or service to market and are now expanding into new territories.
PLAN. Each and every professionally run franchise business will have a detailed operations manual, which is essentially the business plan to successful and profitable trading. The franchisor will already have tested the product or service, established a market for it and proven it as a valid sustainable business. As a franchisee, you jump straight in at the point that the business is growing and expanding opening up the opportunity for you to run the brand in your own geographical area or territory. The franchisor will provide specific skills training and development plus offer on-going support as your business grows.
FUNDS. Like all businesses, there is a start-up cost involved in becoming a franchise business owner, this varies from franchise to franchise. If you have cash in the bank from your student loan then you are ready to go, if not, then you will need to approach the bank for a business loan. Banks are more likely to loan to franchise companies because of their proven track record and on-going support from the franchisor. Or perhaps you know someone who will invest in you, your newly acquired skills and your determination to make a success of yourself?
Above and beyond all of these points you need to have aspirations and goals to be successful. Dreams without a plan come to nothing so start achieving your life plans today and find out what franchise business you could be running tomorrow.
