Festive franchising - 12 days of Christmas...
As Christmas approaches and the year draws to a close, it’s both a time for reflection and looking to the future. If...
Selecting a franchise may be one of the biggest choices you make in your lifetime and for that reason aspiring franchisees undertake a lot of research - rightly so - but they often forget to do the most important part of researching - understanding themselves. You should sit down and take as much time as needed to completely understand yourself before you start to even look at any franchises in particular.
Franchising isn’t for everybody, in fact, it’s a very challenging occupation that will become stressful and time consuming but it’s also very rewarding. Every franchise will offer different areas to make franchising work for a variety of people but the franchise model won’t alter in certain areas. So, the first thing you should ask yourself; is franchising for me? If all your answers, to the fundamental following questions, is yes then perhaps you have what it takes to consider franchising as your occupation:
If you answered no to any of the above questions, then I would suggest that perhaps franchising isn’t for you as these rules apply to all franchises.
If you look at all the franchise industries available, you will find the variety of franchises out there which means there is something that will interest you on a personal level. What we suggest is that you make a note of what you enjoy doing, whether this be an avid vehicle driver, animal lover or a computer geek. Once you understand an area that genuinely interests you, then you need to understand if this area will challenge you to the level you will require to drive your commitment.
Answer the following questions for yourself to highlight what franchises might suit you:
When you start off as a franchisee it will involve a lot of hands on work that will be time consuming, often with unsociable hours, but for some franchises this can change to be more relax after the initial set up. So, it’s important to understand what commitments you can make in the ongoing years, following the initial set up time.
It may seem unusual to discuss finance when the topic is understanding yourself but the finance that you have or can get is a major role in understanding yourself as it limits you at the offset.
Finding a franchise that works for you and that you can commit to is great but this is a ongoing business model so you need to ensure that you can commit for a long period of time.
After you have answered all these questions, you should have a clearer understanding as to what franchise industries will suit you but you have one more area to cover before you understand yourself. Do these franchise opportunities have the potential to fulfil you ambitions on a personal level?
If you have answered all the questions in this blog then you have a clear understanding of what might work for you in terms of franchise opportunities so we would then recommend you following the next guide in choosing a franchise opportunity