6 Things to Know Before Starting a Franchise
By Jim Sebastiano, MatchPoint Consultant
By Jim Sebastiano, MatchPoint Consultant
1) You will be flying solo. After training you are on your own.
2) Have a cash stash (because of the credit crunch).
3) Money will be tight. Make sure to have money put away for living expenses that will last six months to a year.
4) Don't get suckered. Review the franchise disclosure document. Ask a lot of questions and don't get sold on anything. Also, watch out for resales that are too good to be true.
5) Do your research. If you follow the program you should have a 90% success rate. Follow the program and choose a good location. Also, talk to other franchise owners before buying. Lastly, have a franchise lawyer review liability disclaimer clauses.
6) Be forewarned. As the franchisors start to hurt, it is possible they will go into the red.
2) Have a cash stash (because of the credit crunch).
3) Money will be tight. Make sure to have money put away for living expenses that will last six months to a year.
4) Don't get suckered. Review the franchise disclosure document. Ask a lot of questions and don't get sold on anything. Also, watch out for resales that are too good to be true.
5) Do your research. If you follow the program you should have a 90% success rate. Follow the program and choose a good location. Also, talk to other franchise owners before buying. Lastly, have a franchise lawyer review liability disclaimer clauses.
6) Be forewarned. As the franchisors start to hurt, it is possible they will go into the red.
