- Never been in business before!
It is very understandable that, if you have never been in business before, this could be scary. However, remember that there are very many professionals around you to help you and answer all the questions that you may have.
To start with, I as an experienced entrepreneur and franchisee, will guide you throughout the entire process and will be available to direct you to the right decision for your specific circumstances. By the way, my services to you are at Zero $ cost nor is there any contractual obligation on either of our parts.
In addition, I would consult anyone that you know that is a successful business owner and write down your questions and ask for 30-45 minutes of their precious time to learn how they were successful. I would advise that you do not speak with negative ‘nay say’ people as they will always say no without even either properly understanding your business venture or your capabilities. Now, the successful businessman may say no after consideration to your proposed new venture, but at least that person is qualified to comment on the subject.
Other people that may be good to talk with would be a CPA, a Commercial Realtor or a Banker.
Always surround yourself with ‘positive-thinking’ people!
- How do I know that this franchise will not lose me all my hard-earned monies?
Again, if you do your due diligence, with a Franchise Consultant like me alongside, you should be able to ascertain which is the best opportunity for you from the hundreds out there.
I will assist you to learn all about the Franchisor, their successes and failures, the industry, the local competition and all else necessary for you to arrive at an informed decision.
I should mention that all Franchisors are regulated at a Federal and State level to protect you, the investor, from any scams. Each Franchisor is required to file yearly reports on their performance with these administrators and I will assist you to be able to understand them fully prior to any contractual commitment to the Franchisor.
- Do I have enough money to be able to buy into a franchise, and can you help if I do not?
As stated, I will be alongside you all the way from identifying the best opportunities for you through to introducing you to appropriate Franchisors for your specific needs.
Now, you may not have quite enough cash to invest in the business but, again, I can help! I will connect you with the best specialised franchise funding experts that will assess your situation and provide solutions as to how to raise funds through any ROBS, private pensions or the government-backed SBA loan scheme.
It should be noted that most Franchisors do not offer a funding option but may relate to third-party lenders of their own.