Franchises are generally set for a fixed term, some a lot longer than others, but if you are new to the entire process then it may be
advisable to select a franchise with a shorter fixed term, just on the off chance that you feel franchising isn’t for you.
When deciding on which of the many franchise opportunities to buy into there are several points you should take into account and
naturally the first is affordability. If you have the capital readily available then all is well and good, but if you are desiring to get a loan then you will have to factor this into your
franchise gains so consider the advantages and disadvantages and, even if the franchise that you originally had your eye on is no longer viable, it is more than probable that there are identical
but less expensive franchise opportunities just around the corner.
You will need to decide what you hope to gain from a franchise, and consider costs and outlay. Carry out the research, talk to current franchisees who can give you the low down on the
agency or find a reliable company who deal only in legal or above board franchises and can provide a great range of franchise opportunities.
Your next step is to check out the appeal and uniqueness of the products or services you will provide from your prospective franchise.
Obviously you will want to be offering something that is a) popular, sought after or in regular demand, and b) in regular demand in your retailing area. Stick with a product that you know
is widely used in your sales area .
Another point when looking into franchising is that the franchise will not be yours. You will be buying into the company and paying to use their branding and logos. Again it is recommended
to seek professional advice and use reputable sources, i.e. a highly reputable franchise website which will go through all the finer details with you and help you find great franchise opportunities that suit your demands.
It is important to read the the terms and conditions. Are they affordable and can you adhere to them and still generate a nice income? You also have to study costs. Naturally the franchise
is going to be the main outlay but you also need to add into the equation your training and support as well as the functioning of the business.
When selecting the franchise that you want you will need to devise a marketing plan. For instance, if you manage a tools franchise you will be supplying businesses like garages, building
companies, plumbers and private mechanics. Guarantee that you have easy and sole access to all of the companies and trades people in your area and aim to develop a good relationship with
It is reassuring to know that there is a support system to guide you in the right direction.