Buying a Franchise is a great business opportunity as the majority of franchisees are still trading successfully after 7 years (source – US Department of Commerce figures). Before you start looking at franchises, decide which market niche you want to enter. Choose a field that not only creates a livelihood but one that you personally will enjoy.
You also have to analyse your self. Are you good at sales? If you do not like being cooped in to one environment, then a franchise which demands that you out and meet people might be good for you.
Do you prefer it if the customer comes to you? If you prefer to have a retail outlet where you task is to ensure that the environment is as conducive as possible so that customers will be more inclined to shop, then a fast food franchise or similar might be up your street.
Where does your expertise and strength lie? This analysis will determine the franchise that you choose. Always choose the option that is right for you!
Some franchises do all the market research for you and even help you to choose a location for your business. Your job is then to manage the business, keep proper accounting records, always be...
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