By the end of our step-by-step process, you will be able to answer that question for yourself. No, not everyone is destined to be a successful business owner, but if it’s something you have always considered, our process will help you come to the final conclusion.
FEAR. Fear is a natural reaction to a new situation. When the average person moves out of his comfort zone, his brain reacts accordingly. It is the same fear that keeps people in dead-end jobs for years…and the same fear that keeps people in bad relationships. Not everyone can overcome fear. We recommend reading the book Feel The Fear…And Do It Anyway and the article: “The Path Of The 99 Percent” by Joe Mathews.
The evaluation process that I follow is designed to save you time by helping you to zero in on franchise opportunities that meet your investment level, are available in your market and offer you the rewards you are looking for. If you prefer to do your research without the help of a franchise specialist, I suggest you visit Entrepreneur.
Is it true that all franchise companies want to do is sell franchises.
Sadly, there are franchise companies that make their money selling franchises, doing little to support their franchisees once the deal is closed. I will not do business with companies that sell but don’t serve. I look for companies that will only award a franchise to someone if that person completes the due diligence process and is deemed to have the right skills and attitude to become a franchise owner.
The answer depends on you and how much time and attention you are willing to commit to your evaluation. I advise people that if they are serious about getting to a decision, they should be willing to commit between 5 and 10 hours per week – representing a combination of phone communications and research. Most people complete their investigation in 4 to 6 weeks. A person who is really focused can be done in 2 weeks, while some people can take as long as 90 days.
1. They educate you about their concept
2. They evaluate you during the educational process based on your level of engagement, the quality of your questions, your professionalism in scheduling calls and keeping appointments, and your ability to complete tasks
3. They have you talk with their franchise owners so that you can confirm how the franchise works based on their owners’s feedback.
4. They invite you to a meeting with their corporate leaders, typically at their headquarters so that a final determination can be made – by you and by them!
If after beginning the process of evaluating franchises you decide you are no longer interested, then just let me know!