Should You Own a Franchise?

Look in the mirror. Look hard. Be honest.
Be brutally honest when you answer these questions.

Question 1:  Am I Looking at a Business Owner?

Question 2:  Am I Looking at a Good Franchisee?

The Franchise Success Center Initial Qualifying Form that you will fill out and your free consultation with one of our franchise broker representatives will explore these and other questions. You may also decide to work with one of our Franchise Business Coaches to review these issues.

Question 1: Owning Your Own Business

Owning your own business is the true road to satisfaction, purpose, wealth, security and financial success and freedom.

Are you ready?

Or do you only want a job and intend to work hard everyday trying to make someone else’s dreams come true?

For most visitors to our site, and certainly for our members, this self-assessment is easily met but before you decide to consider buying a franchise, be sure you are ready and committed to take control of your life and become a business owner.

Ask yourself:
1. Am I motivated and driven to make this venture succeed?
2. Am I self-disciplined and able to work without supervision?
3. Do I need someone to tell me what to do or am I ready to lead my own business?
4. Do I have the talents and experience I need to succeed?
5. If not, do I have a plan for building a team that will include people with all the skill sets and experience I need to succeed?
6. Do I have the financial resources in place that I will need?
7. Am I tired of just having a job and working for other people?
8. Am I ready to take control of and change the direction of my life?

Owning your own business, alone or with partners, can be a tremendous path to long term success and satisfaction. Once you make this commitment to yourself, you are ready to consider whether owning a franchised business is right for you.

Question 2: Being a Franchisee

Compared to owning your own, independent business, there are pros and cons to owning a franchised business. The next step is to determine if becoming a franchisee, and working within a franchise system, is right for you.

There is no need jump in and start trying to find the “right” franchise opportunity for you until you have determined that becoming a franchisee fits your personality and business style.

Are you considering a hamburger franchise but know for a fact that your own special sauce would taste better than the franchisor’s carefully researched and tested special sauce?

Are you convinced you know more about operating a business than the people you met at Discovery Day?

Do you think you could come up with better signs and a better logo than the franchisor is using?

Is your chicken soup recipe better than the one the franchisor serves?

If you even considered answering yes to any of the above questions, becoming a franchisee is probably not something you should consider.

“My way or the highway” style entrepreneurs should not be franchisees. Fiercely independent entrepreneurs who are extremely independent thinkers and tend to "fight the system" also do not make good franchisees. 
When you become a franchisee, you become a partner with the franchisor. You must be open and communicate. You must be open to receiving seek help, guidance and assistance. To be a successful franchise business owner, you must be comfortable working within someone else’s system and able to take direction from others. If you are the type of person who does not enjoy taking instruction from others, then you may not be happy as a franchisee. If you appreciate having established guidelines and don't mind working within a system, then investing in a franchise opportunity might be the best choice for you.

Remember, the value of buying a franchise is that you are acquiring the franchisor’s experience. Rather than design and build your own business model, plans and systems, you obtain the right to use the franchisor’s tested systems and procedures. Having decided to acquire these rights, doesn’t it make sense to use this experience rather than try to “fix” the franchisor? If you think you know best and know that the franchisor’s system needs to be fixed, even a little, you should probably consider opening your own business rather than becoming a franchisee.

Pros and Cons of Owning a Franchised Business

Pros: proven, turnkey, business model and systems, initial training and ongoing support, supervision and guidance, marketing strategies and plans,  proven and established products and services, entity identification and a known brand, trademarks or trade names, buying power, ongoing research and development regarding products and practices, and in some cases, financing.

Cons: fees (upfront franchise fees and ongoing royalties), loss of independence, limited expansion opportunities, franchisor problems become your problems, and poorly run operations of other franchisees may adversely impact you.

Again, take the time initially to take a long, hard, honest look in the mirror to assess yourself; who you are, what you want and whether owning a franchise business is right for you.

NO RISK ... NO OBLIGATION

With no risk and no obligation you can add Franchise Success Center to your Success Team today!

The process of identifying and acquiring the right franchise business opportunity can be daunting and you can make very costly mistakes if you try to do it on your own. We designed our educational, coaching and broker/referral program to help you avoid making those costly mistakes. Our goal is to make you a more informed, smarter buyer and to help you become a successful franchise business owner.

Register now for your Free Consultation with one of our franchise broker representatives and you will be on your way to owning your own franchised business.

We look forward to your success!

Franchise Success Center provides educational and broker services but is not qualified to advise in any part of the purchase of a franchise or business opportunity. This report in no way offers business advice. Investing in a franchise is a complicated and serious matter. You are urged to seek professional advice and to consult with a franchise attorney, an accountant, and/or other professionals before you make your decision