Indecision when you buy a franchise…
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Posted On :
Nov-01-2011
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Article Word Count :
566
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In my business of franchise consulting services and brokerage, a major part of my day is spent working with candidates to help them determine, whether franchise ownership is right for them.
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Here is a great quote concerned with franchise consulting that is always kept on my wall. It reminds me of the importance to take a chance and to not live in a “grey twilight” of indecision:
Far better, it is to dare mighty things, to win glorious triumphs even though checkered by failure, than to rank with those poor spirits, who neither enjoy nor suffer much because they live in the gray twilight that knows neither victory nor defeat. Teddy Roosevelt
In my business of franchise consulting services and brokerage, a major part of my day is spent working with candidates to help them determine, whether franchise ownership is right for them.
When you buy a franchise, it is important to consider many factors that are beyond the basics of the business model. Though, it is obvious that you want to make sure the model work and can generate the income to support your lifestyle, there are many other factors to consider like:
1.If you would enjoy the business
2.Do you have the skills required to operate franchise business successfully?
3.Is your family supportive of your decision?
4.Are you comfortable having so much control of your destiny?
5.Is it that owning a business is something you REALLY want to do?
What is the interesting aspect of franchise concept, but disheartening too, is when people lose sight of the objectives and are overcome by fear, which leads to indecision. It is realized that when someone buys a franchise; they are making a significant financial commitment. It is a big decision and one must be certain about what they really want.
The challenge is you never can really tell until you are in the position of owning a franchise system business. You can do all the research you want and can perform a detailed financial analysis, speak to franchisees and see if they are happy with the model. While this can give you some certainty; still, you can never be 100 percent sure. We should face it that on buying a franchise, or start any other type of business; there is an element of RISK.
So how does one overcome this fear?
Well, I wish that I could provide an answer for you. I have had clients that decided to buy a franchise. Some have done very well; while others have not done so well. It is just the nature of business, which you will be able to know after giving it a shot.
Does this mean to you to go out and buy a franchise? Well, the answer to this is a big No.
The basic thought behind this is to carry out your research and assess the risk and make your decision. I realize that may seem flippant or cavalier; but it is not. Your decision can always be to NOT buy a franchise. Saying no is totally acceptable…
My point is that you should either go about it or don’t do it. The situation should be to make the decision and be comfortable with it. As the above referenced quote states, “Don’t take rank with those poor spirits who neither enjoy nor suffer much because they live in the gray twilight that knows neither victory nor defeat.
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Article Source :
http://www.articleseen.com/Article_Indecision when you buy a franchise…_98752.aspx
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Author Resource :
The author of this article has specialization in Franchise Concepts. His enormous experience is summed up in the article ‘Franchise Disclosure Document brings the master plans for the Franchise Opportunities’. Along with this he also provides franchise consulting, franchise development and brokerage services to both individuals and franchise systems.
Read more: http://su
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Keywords :
franchise, franchise consultant, franchise concept, Franchise Models, Franchise System, Franchise Brokerage, Business Coaching, Stra,
Category :
Business
:
Business
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