It’s all over the news; business owners are struggling, the economy is failing. With the COVID-19 pandemic greatly affecting everyone, some questions business-minded people have, “Is this really the right time to franchise a business?”, “Should I really consider owning a business now?”, and probably, “Is it worth it?” Well, there are many answers and opinions regarding this matter, but if you want our opinion… Probably. Remember, it doesn’t cost anything to look.
“But I don’t know what I want to do!”
Before we look at any franchises, it’s important to do a thorough workup and determine what type of franchise suits your skill set, your interests and your financial abilities. Once we determine that, we will look to see what franchise business opportunities exist in your area and what territories are available.
“But how do I go about researching these businesses?”
I will help you do your research the professional way. Not internet research. I will introduce you to the Franchise Development Manager, Vice Pres, or sometimes the President of the franchise – we are NOT dealing with the sales staff you get when you dial their 800 number. We will find out everything you can’t find out on the internet: Who owns the business; What kind of experience do they have; How financially strong are they; Do they have any pending litigation – especially from franchisees; What percent of franchisees fail in their system? Once you have that information and you are really interested in this business, we will get all the contact information for every franchisee. You can ask them anything you want, and they will be totally honest with you, as each one of them have been in your shoes before they made their purchase.
The economy is down. Why would I even consider buying a business now?
Because NOW may be the perfect time. It has become a buyers’ market. It’s always better to buy when the prices are low. This economy won’t stay down long, and it’s likely that it will come back with a vengeance.
Give me a call, and let’s see what is out there? My services are free to you as the franchisors pay my fee.