Growth Club
1851 Growth Club
10 Helpful Tips for a New Franchisee
FranNet’s Blair Nicol shares words of wisdom for new entrepreneurs.
Do Your Research.Know Your Options. “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.”
Have a plan. Understand that the best opportunity is the one that fits your goals and is most affordable.
Never settle.Asses your risk tolerance.Get help!Know your personality type.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.
