This time of year is popular for many people to look at their options and think about buying a franchise.
So, as you’re lying by the pool sipping pina coladas, here are some useful questions to think through.
1. Would you like to run your own business? Think about what it would be like, where it would be, how it would operate. Do you think you’d be a good boss?
2. What do you like to do? Are there certain activities you enjoy? Be careful with this one. I like eating mangoes, but I’d get sick of eating them every day!
3. What skills and capacity to you have? Do some self-reflection and understand what you’re good at. See how you can use these attributes in your own business.
4. How much do you want to make? Most franchises provide the opportunity to earn decent money, but the actual amount is up to you. So, it’s important to have a figure in mind.
5. And finally, what is the real reason you want to do this? Understanding your true motivator will help you find the best franchise for your situation. Think deeply about this one.
When you’re ready to take things further, be sure to get a Pre-purchase Review. This checks the financial aspects before you buy. It’s a big decision, so you need to be sure.
Let us know if you need a hand.
Peter & Kate
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