If you are interested in franchise opportunities, here is a question for you to ponder: “Regardless of how much money you have to invest in franchise unit(s), which franchise type you choose: Low-investment or high-investment one?” To dig deeper into that question, please consider the following scenario: Suppose you have $100,000 to invest in franchises.…
Can you get rich with franchising? Yes. Just like anything else in business world, you can achieve your financial milestones well if you do the right thing. Being a franchisee for several years makes me realises that not all franchisees are born or created equal – The personal traits of the franchisees govern how well…
The basic rule of thumbs in buying a franchise unit is to look for a franchise that suits your interest, personality and management style. However, a seemingly suitable franchise will not guarantee you any success if it is not great. Being good is not enough – You would not want to invest tens of thousands…
When you are looking for a franchise to invest in, you will surely be invited for a short interview to learn why you are interested in one. In some occasions, you may also be invited to take a personality assessment. The personality assessment held by a franchisor is aiming to profile franchisee candidates in order…
A conventional wisdom on franchising says that absentee ownership is not ideal in running franchise units; Therefore, most franchises offer franchising opportunities that do not allow absentee ownership. Perhaps they should think about allowing absentee ownership, as it presents a win-win solution for both franchisee and franchisor. Absentee ownership means owners who are not physically…
You are ready with the resources on your side. You revved-up and ready to invest your money in a good franchise. Your next step is to find which franchise to partner with and to invest in, and after that you are ready to start making money. We are ready to go, right? Well, not quite.…
