Your choice of a franchise is obviously very personal. Some people love the money and energy of the food business, there while others like the low cost and simplicity of an office based business. There are people who are risk adverse and there are those who are returns obsessed. You know you, ampoule so trust that and think about the perfect franchise for you. With that in mind, you can then explore which franchisors meet your needs.
Criteria I would suggest, when considering which franchise to pursue, would be, who is in charge, what is the concept, how are they at promoting my business, integrity and improvement focused, is the product dynamic and is there a target market in my area for the product and finally, is this a unique opportunity?
Some people trust only a franchise that has been around for a long time and has lots of brand recognition. There are some advantages there absolutely, but typically that does not include the ability for you to grow in a territory, have a role in the brand, take advantage of the franchisor growth and see how they handle challenges and change. At the end of the day, what is more important than the company, is who is in charge. Have they led success before? Do they know operations and quality? Do they understand the needs of franchisees. Most educated people would choose a new business led by a proven leader over an older business led by promoted middle managers.
Of similar importance, can the brand promote my local presence and can they show they have done this? Sure, with a national brand you have the same signs, hand-outs and commercials, but how does this promote your location? It really doesn’t. It’s critical to choose a franchise that can get you the attention you need and drive the traffic to your door.
Does the franchise have evidence of the willingness to change, to sacrifice for the greater good. So many large franchisors have died on the vine for failing to adapt to the times and make the necessary changes to make sure their franchisees stayed ahead of the curve.
Obviously there has to be a market for my produce and you would want a product that sells itself. Of course there is the Golden Ring that few believe is out there, but it would be fantastic to find a franchise that was totally unique and generated excitement and interest by the mere mention of its name.