Franchise Opportunity - Questions To Ask The Franchisor - #43
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Finding The Right Franchise
Whether it’s hamburgers, pizza, telecom, coffee, Internet, muffler parts, or seniors’ services, there are Franchise opportunities available to evaluate. There are great Franchise systems, good Franchise systems, and bad Franchise systems. The challenge is to ask the right questions to find the right system that will fit your goals and dreams. The key is to ask the questions – and listen closely to the responses. Only then can you determine if the Franchise opportunity is the right fit for you. So whether it’s food services like burgers or coffee, professional services like telecom or IT, or manual services like cleaning or oil changes, ask the questions and record the answers.
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Does A Franchise Meet Your Emotional Needs?
When you think of becoming a businessperson by making the transition from employee to Franchisee, you don’t generally think in terms of emotional fulfillment. However, in reality, the evaluation of emotional factors should play a significant role in making that final decision to join the world of the capitalist, or remain in the realm of employee.
Of course, every analysis should include the standard of comparing risk to return. It should include income projections, and cash flows. It should include the analysis of financing avenues, site selection alternatives, and many other objective criteria to lead to a final decision about becoming an entrepreneur. The course of due diligence should be driven by a systematic approach to each of these items.
However, in the end, assuming the objective criteria have been ticked off your list in a satisfactory fashion, it should boil down to emotional fulfillment. After all, we all have a right to be happy. That particular statement – ‘we all have a right to be happy’ – has changed the course of my life on several occasions. It was one of those statements that was passed casually by an acquaintance over dinner one evening, and ignored by everyone at the table, except it hit me right in the heart. It stuck to me like red on a stop sign. As a result, I have made many important life decisions based on emotional criteria, in addition to objective criteria. If it doesn’t pass muster on both fronts then I look for a better course.
There are many employment situations that can meet your emotional needs, wants and desires. Of course, there are also many that do not, and cannot. A full examination of emotional criteria should include the analysis of several items, with the ultimate goal of determining whether your needs can be met by a job, or whether it is more likely they can be met by your own business.
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To receive a free copy of an E-Book titled ‘Franchise Opportunity – Making The Right Decision’ by Dennis Schooley, email that request to corp@schooleymitchell.com.
Dennis Schooley is the Founder of Schooley Mitchell Telecom Consultants, a Professional Services Franchise Company. He writes for publication, as well as for schooleymitchell.blogging.com and franchises.blogging.com, in the subject areas of Franchising, and Technology for the Layman. http://www.schooleymitchell.com, 888-311-6477, dschooley@schooleymitchell.com.
Keywords assigned to this article by MoneyMoz: franchise opportunity, franchising, franchisee, schooley, mitchell, dennis, small business owner
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