TL;DR
Telanda Sidari, a franchise consultant with The Franchise Consulting Company, advises potential franchisees to reflect on their motivations for investing in a franchise. She guides clients to understand their goals and values to make informed decisions.
From burgers to bird feeders, the array of franchise opportunities is vast. But that also means when someone is ready to take the plunge and invest their savings into a franchise, they’ve got a lot of research ahead of them.
But, according to Telanda Sidari, a Columbus, Ohio-based franchise consultant with The Franchise Consulting Company, the best place to start your research is within yourself. She says the first thing she usually asks her clients: “Why do you want a franchise to begin with?”
The answer is often revealing, and helpful for both her and the client during the franchise journey.
“Is this something you’re doing because a neighbor did it or a friend did it or you’re not liking your job right now?” she asks, “Or is this truly something you’re looking at as an investment, something that is going to be long term and that you understand what your skill sets are?”
Sidari says that understanding your motivations will guide you to the rest of the decisions that lie ahead on your investing journey, from sector to investment levels.
1851 spoke to Sidari about her experience as well as what other advice she has for franchisees and franchisors who are looking to succeed in the industry.
In this story
This story was originally published in 1851 Franchise on July 9, 2021. Burnaze summarizes and links to the original reporting.
Read the full story at 1851 FranchiseLiked this? Get the week's franchise news, explained
- Sunday 8 AM ET weekly + a monthly deep dive
- Sections picked for the industries you follow
- Every claim linked to its source. Free.