Finding a franchise business that is right for you is simple if the right preparation is done beforehand. So what steps do you need to take to ensure that your first venture into business goes according to plan?
Who Are You?
First you must take a long hard look at yourself. What kind of person are you? Do you want to work from home or would you prefer to manage a retail outlet? Are you good at managing people? Are you a morning person or a late starter? What is your attitude towards risk?
Money, Money, Money
How much capital is readily available and do you have family or friends who can assist you with funding your venture? What are your current monthly outgoings? How long can you sustain yourself before you need to take money out of the franchise business? What is your credit score like and will the banks help you to purchase your franchise?
Marketplace
The area you live in and plan to operate your franchise plays a huge role in your success. What are the demographics like? Is the average age of the population increasing or decreasing? Is unemployment rising or falling? Are people in your area generally speaking, making more money now...
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