TL;DR
Developing a business model and having a plan are key steps for new franchisees to consider. A research process for finding the right franchise can be overwhelming and requires patience.
Develop a business model. “How will you ever know if you’re looking for the right franchise if you don’t know what you want in a franchise in the first place,” Nicol says. “Think of it this way: If you were looking to buy a house, wouldn’t you first sit down and write out the criteria of what you want in a house, and then start to look? It’s the same thing here, just a different set of criteria.”
Make a decision. Hang in there. The research process can be overwhelming at times, but patience is a must. This is a 2 – 3 month research marathon, so it is not a race.
In this story
This story was originally published in 1851 Franchise on July 15, 2015. Burnaze summarizes and links to the original reporting.
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