Resp2.docx
I've often though about buying my own franchise, but it has never seem to be the right time or the knowledge and defiantly the finances. This is some of the things she spoke about in the video. A key and very important start is to think about your own personality. Buying into a franchise, in order for it to be successful, you would have to maintain it's brand, it's consistency of that franchise, if you are creative and like to do things on your own, then a franchise would not be right for that type of person. When buying into a franchise you are buying a business in a box. A person would be buying into someone else's system, you will be going into business but not on your own, you will be learning someone else experience and that will help minimize the risk. Some of the questions that a person should ask before buying a franchise are: What experience do I need in the industry? Once I'm in, what kind of training can I expect to get? What personal commitment is required? What kind of financial commitment is required? What is the track record of the franchiser? And do you have a UFOC? If they do not have this document that will be a red flag, because this shows the history of the company, the history of the managers, financial statements, and pending litigation and any bankruptcies.
jhayes
0
