Before buying a franchise business there are a great number of things to consider. This article provides you with 10 factors you should look for from a franchise business that will help you avoid some of the major pitfalls.
The article is also known as Avoiding a RIYOT, the acronym RIYOT stands for REPENT IN YOUR OWN TIME. The point being, that if you pick the wrong franchise in haste you could be regretting the decision for a long time to come. We hope by reading this article we can stop at least a few people making a very costly error of judgement. Hope you find this useful.
This list has been compiled by a very experienced franchisee. All the information here is based on direct experience, near misses and the stories we have heard from the 0trenches0.
- How would your franchise business be affected by economic cycles? (eg for example during a general economic downturn or worse a longer term recession).
All economies are cyclical and as you will be aware from experience there are times of prosperity (that can last many years) and there are times when global, national and local factors result in economic slowdowns (which can […]
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Perhaps the most common objection that would be entrepreneurs have to face is the fact that starting a home business requires an investment. Sure, there are the more costly franchise opportunities that may offer large profits but at the same time also require a quite sizeable upfront injection of capital; at the same time, even some of the more modest multi level marketing opportunities that you will find online will require an investment that must be made before you can even have a chance at making any income whatsoever.
While starting a home business with next to no capital will appear to be impossible at first glance, there are some methods that savvy entrepreneurs have used to make it happen! No, they did not mortgage their homes or max out their credit cards 0 two steps that will be sure to lead you to financial ruin rather than business riches 0 and instead they focused on making do with what was at hand.
Take for example the lawn care professional that is making a name for himself on your block for his gardening acumen. Perhaps this is an individual with a green thumb who loves to putter around outside and one […]
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If you still think that you need something a little bit more than a giftcard when you are going to be attending a wedding, then you can always look into putting together some sort of theme package. Perhaps the newlyweds will be moving into a new house when they return home from their honeymoon.
If so, then think of putting together a basket with a couple of thoughtful household gifts along with a card from a local bath and bedding store. Unique wedding gifts are very thoughtful, and your wedding gift ideas are sure to catch the attention of the happy couple.
Certainly, present cards are always a great item to give at weddings, for your best friend to one of your closest cousins in the family. Whereas years ago, a present card for a local store may have been looked at as being tacky or thoughtless, many couples today really enjoy receiving such a present. They can head out to the store or hit their computer and shop online for the items that they want and need.
It is simply a matter of finding one with the gift card balance that you have in mind. Consider getting one from […]
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