5 concerns when buying a franchise


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New franchisors rise or fall based on the amount of expertise and foresight held by themselves and their staff to avoid the inevitable pitfalls.


These pitfalls can spell the difference between franchise success and franchise failure. Although critical to negotiating three stages of starting a franchise (franchise feasibility, formation and management) franchise expertise and foresight are not normally among the new franchisee’s skills.


During the feasibility and formation stages of development, most franchise based operations have the good sense to enlist the help of the franchisor and professional resources such as a competent franchise consultant and  franchise attorney, but it is in the day to day running stage that new franchisees forget to apply the sound franchise principles. Apply the  franchise model & franchise expert’s advice. 


Franchise feasibility analysis is the most important element in the  franchise equation because it truly defines the honesty, integrity, reliability, and motivation of the entrepreneur and/or the consultant involved.


If the elements required to franchise a business are not present, the entrepreneur should not be starting a franchise. Of course, the  franchise consultant, if incompetent, will not have the ability to properly evaluate the situation. Or worse yet, if morally corrupt, the consultant may see a problem but not disclose it.


It is tragic, and probably criminal, to know that some franchise consultants will inflate the prospective franchisor's ego by telling him he "has a great franchise concept" or he will be "very successful in franchising" when he has not even learned about, or indeed, even "seen" the business in question.


Incompetence and dishonesty are rampant in franchising; scores of failed franchisors and failed franchises are grim testimony to this truth.  Evaluate your franchise properly and choose a franchise in an industry that you are passionate about.



Franchise considerations – building your franchise team & franchise infrastructure


Staffing a franchise? After buying a franchise, you'll need people with ambition and talent to grow the franchise with you. Consider the essential qualities you'll need in your team before you start hiring people to work at your franchise.


Although it's possible to start a franchise that doesn't require employees, employee-free franchise opportunities are rare.


Chances are you're going to have to deal with the problem of staffing your franchise and keeping it staffed if your franchise is going to succeed.


Many of the staffing issues you will face in your new franchise are the same issues you would face in any small business. However, franchises do offer some unique benefits and challenges that you need to be prepared to address.

>>> Franchise : Hiring Employees

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