Thinking of Buying a Wyndham Worldwide Franchise?
Basics to Consider Before Becoming a Wyndham Worldwide Franchisee.
If you're thinking about buying a Wyndham Worldwide franchise, there are many things to consider before signing on the dotted line. Becoming a Wyndham Worldwide 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 Wyndham Worldwide franchisee might be financially rewarding.
Owning a Wyndham Worldwide franchise is a serious commitment and works best when you make a thoughtful decision.
Just because you love Wyndham Worldwide's products or services doesn't mean that you will be able to successfully operate a Wyndham Worldwide franchise. Being emotionally attached to the idea of becoming a Wyndham Worldwide franchisee is not a state of mind in which you can effectively evaluate an opportunity. Your positive experience as a customer of Wyndham Worldwide should not form the basis for deciding to become a Wyndham Worldwide franchisee. As an example, just because you love Big Macs doesn't mean that you should become a McDonald's franchisee.
Wyndham Worldwide Due Diligence
You must conduct smart due diligence and determine from a business perspective whether owning a Wyndham Worldwide franchise is right for you.
If you truly want own a Wyndham Worldwide franchise, get all the information you can from Wyndham Worldwide. Talk to Wyndham Worldwide 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 Wyndham Worldwide 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 Wyndham Worldwide franchise.
Wyndham Worldwide Franchise Disclosure Document
Carefully read the Wyndham Worldwide 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 Wyndham Worldwide FDD may be available.
As you are reviewing Wyndham Worldwide's Franchise Disclosure Document you will have a number of calls with Wyndham Worldwide's franchise team before you will be allowed to call Wyndham Worldwide franchisees. Click here to download the questions you should ask the Wyndham Worldwide franchise team.
When you are allowed to call Wyndham Worldwide franchisees make sure you speak to at least five of them. You will find that most Wyndham Worldwide franchisees will be honest and unbiased about Wyndham Worldwide. Click here to download the questions you should ask Wyndham Worldwide franchisees.
Wyndham Worldwide 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 Wyndham Worldwide 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 Wyndham Worldwide franchise is the right move for you.
If you're serious about becoming a Wyndham Worldwide franchisee and want to explore owning a Wyndham Worldwide franchise, take the best first step you can and grab your copy of The Educated Franchisee today!