Thinking of Buying a @WORK Franchise?
Basics to Consider Before Becoming a @WORK Franchisee.
If you're thinking about buying a @WORK franchise, there are many things to consider before signing on the dotted line. Becoming a @WORK franchisee is not a guarantee of success, but rather a blueprint that can assist you in achieving success. Given the correct market conditions, skills and dedication, being a @WORK franchisee might be financially rewarding.
Owning a @WORK franchise is a serious commitment and works best when you make a thoughtful decision.
Just because you love @WORK 's products or services doesn't mean that you will be able to successfully operate a @WORK franchise. Being emotionally attached to the idea of becoming a @WORK franchisee is not a state of mind in which you can effectively evaluate an opportunity. Your positive experience as a customer of @WORK should not form the basis for deciding to become a @WORK franchisee. As an example, just because you love Big Macs doesn't mean that you should become a McDonald's franchisee.
@WORK Due Diligence
You must conduct smart due diligence and determine from a business perspective whether owning a @WORK franchise is right for you.
If you truly want own a @WORK franchise, get all the information you can from @WORK . Talk to @WORK franchisees and secure a qualified advisor who has experience helping people like you purchase franchises. You may also want to download a free copy of A Glossary of Franchise Terms to help you.
Make sure that owning a @WORK franchise fits in with both your skills and life style objectives. If you don't want to work evening and weekends, don't purchase an ice cream shop. If you're an introvert, don't buy a franchisee that requires you to be extroverted. Click here to download the questions you should ask yourself before considering the purchase of a @WORK franchise.
@WORK Franchise Disclosure Document
Carefully read the @WORK Franchise Disclosure Document (Also known as an FDD). They can be intimidating. Chapter 7 of The Educated Franchisee explains what a Franchise Disclosure Document is and what the terms mean. Visit our FDD Exchange to view sample FDDs. A @WORK FDD may be available.
As you are reviewing @WORK 's Franchise Disclosure Document you will have a number of calls with @WORK 's franchise team before you will be allowed to call @WORK franchisees. Click here to download the questions you should ask the @WORK franchise team.
When you are allowed to call @WORK franchisees make sure you speak to at least five of them. You will find that most @WORK franchisees will be honest and unbiased about @WORK . Click here to download the questions you should ask @WORK franchisees.
@WORK Profit and Loss Statement
Put together an estimated P&L (profit and loss statement) and see what the numbers might look like if you become a @WORK franchisee. Reading Chapter 13 of The Educated Franchisee teaches you the secrets of this key step.
The decision making tools in Chapter 15 of The Educated Franchisee and in Step 13 of The Franchisee Workbook show you how to honestly evaluate whether or not buying a @WORK franchise is the right move for you.
If you're serious about becoming a @WORK franchisee and want to explore owning a @WORK franchise, take the best first step you can and grab your copy of The Educated Franchisee today!