Inc.com has just published a good article listing the “5 Biggest Mistakes People Make When Buying a Franchise”.
Be sure to read the article, but here is a list of the 5 franchise purchasing mistakes:
- Not understanding the market or doing proper research (Be sure to use www.Franchise-Seekers.com!)
- Not spending time with other franchise owners of the business you’re contemplating.
- Thinking you will be able to be independent.
- Not learning how to implement the system.
- You have to walk before you run.
And here is the big take-away:
“Buying a franchise isn’t for everyone. However, if and when you make the commitment to become your own boss, and you do all your homework and invest in a franchise model, follow the model, and work hard. It appears in franchising, the harder someone works, the luckier they get.”
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