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If the Shoe Fits: Finding the Right Franchise to Fit Your Needs

By: Franchise.com

 

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if-the-shoe-fits--finding-the-right-franchise-to-fit-your-needsChoosing a franchise to invest in is a lot like finding the perfect pair of running sneakers. You need to find one that will fit your needs and give you the support that you are looking for. Choosing the brightest, shiniest pair of kicks off the wall is not necessarily going to buy you happiness. Before forking over your money and tightening your laces, you need to figure what you’ll need to be successful. Like sneakers, franchising comes in all shapes and sizes and it is important to find the best fit.

Style: If you like to run on the treadmill, you aren’t going to buy a pair of trail-running sneakers. Just like if you like to sleep in on Saturday mornings, you aren’t going to invest in a franchise in that will require you to get up at 4am to brew coffee and serve bagels. Be realistic about what your living style is like. Embrace the fact that you like sleeping in and allow yourself to do so. Just because you like to drink coffee doesn’t mean you are going to want to own a franchise that serves coffee. Figure out the hours you want to be working and look for a franchise that fits your needs.
Support: No one wants to roll an ankle because they aren’t wearing shoes with the proper support. Some franchises provide franchisees with extensive training and support while others give you the tools you need to get started on your own. It is important to ask questions about the support a franchisor can provide you with. Don’t invest in a franchise if you don’t believe it will give you adequate support down the road. A franchise that lacks the support a franchisee is looking for is not going to win any races.
Durability: The best shoes are the ones that are going to last you; they are the shoes that you keep replacing because they get the job done. There are many franchises out there that have been around the block. Pay attention to franchises that have stood the test of time and weathered financial storms and hardships. Just because something is flashy and makes the front-page of the news, it doesn’t necessarily mean that it will stay in the news for long. There is nothing wrong with choosing an older franchise that has a proven track record and loyal customers.
Investment: The price of a pair of shoes can vary widely, which is also the same in the case of franchises. More important than picking up a great deal, you’ll want to consider your budget before you start shopping. Depending on your budget and your needs, you can find a franchise that will fit what you’re looking to spend.
Investing in the right franchise can lead to financial and professional success, which is why it is so important to find the best fit. Be aware of what is out there on the market before taking the leap to invest. Be a smart shopper, weigh the pros and cons, ask questions, and evaluate your options because unlike running sneakers, there is no 30-day exchange!
This article was originally published by Franchise.com
Published: August 7, 2013
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