I have purchases a few franchises and explored hundreds more. I have stressed this on previous posts concerning franchises on Yahoo Answers, but without question, the number one thing that neeeds to be considered when dealing with considering purchasing a franchise, is location.
Often times in business, a unique product is the key to success. With franchising this isn?t possible, therefore the success is based on demand and filling that demand where others aren?t.
With that said I feel franchising in the right location is definetely a great idea. The stability of an established business and product along with a working business plan provides all the support to someone who might not be a purebreed entrepreneur.
Before jumping into any franchise I can?t stress enough how important research is. When I am looking to get learn more for a potential purchase I turn to Franchise Gator. Franchise Gator.com is an amazing resource for someone considering a new franchise and they literally have thousands of opportunitys that include all the information you will need to make an informed decision.
The nuts and bolts they provide you will help you decide if that franchise is right for you, but it wont answer the question of whether that area is ready for your franchise.
As far as whether or not it is hard work. Of course it is. You need your business to standout above all others, competitors and other franchise locations.
I own a few fast food franchises, and I am very cautious of the cleanliness of my restaurants. I want my food to look better then my competitors whether same franchise or not, from an aesthetic perspective, even though it is the same product.
It?s the little things that make you successful. I want people to think, ?Hey I want McDonalds? and then think, ?I want to go to Jennifer?s McDonalds?
It might sound trivial but it has been the key to success for me. I hope this has helped. Good luck!
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