1851

The publisher of&nbsp;<a href="https://1851franchise.com/">1851 Franchise</a> and&nbsp;<a href="https://www.youtube.com/watch?v=ef4aftFHiVk&utm_source=1851franchise.com&utm_medium=article&utm_campaign=1851-growth-club-how-franchising-works-and-how-to-make-your-decision-2723852" target="_blank" rel="nofollow">1851 Growth Club</a> CEO&nbsp;<a href="https://www.linkedin.com/in/powills?utm_source=1851franchise.com&utm_medium=article&utm_campaign=1851-growth-club-how-franchising-works-and-how-to-make-your-decision-2723852" target="_blank" rel="nofollow">Nick Powills</a> understands that as a prospective franchise buyer, there are plentiful opportunities available from the&nbsp;<a href="https://www.statista.com/topics/5048/franchising-in-the-us/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=1851-growth-club-how-franchising-works-and-how-to-make-your-decision-2723852" target="_blank" rel="nofollow">thousands</a> of brands available. Franchisors are also eager to have you on board, specifically if you are financially qualified.&nbsp;“When you're financially qualified and ready to buy, you've cut through this giant line of people that are considering buying a franchise,” said Powills. “Now you're at the finish line.”As you navigate this journey, it's important to recognize that when you fill out an inquiry form on&nbsp;<a href="https://1851franchise.com/mainland/building-a-franchise-development-website-2717566">a franchise website</a>, you're not simply submitting information. You're entering the domain of a dedicated sales team whose livelihood depends on awarding franchises. That’s why Powills recommends holding off on the form, at least until you are ready to move forward.&nbsp;“If you’re not ready to have the conversation, don’t fill out the form,” he said.&nbsp;Take your time to gather information,&nbsp;<a href="https://1851franchise.com/how-do-you-do-due-diligence-on-a-franchise-2716448">research the brand online</a> and&nbsp;<a href="https://1851franchise.com/how-to-market-your-franchise-opportunity-part-6-using-linkedinsocial-media-to-support-franchise-development-2720130">message franchisees on LinkedIn</a> to ask questions. At this point in the process, you should have already engaged in discussions with the franchisor, grown comfortable with the business concept and asked your questions.Once you decide to&nbsp;<a href="https://1851franchise.com/how-do-i-apply-for-a-franchise-2717021">fill out that form</a>, they will assess your suitability, your plans for growth, financial capabilities and may even conduct personality tests to gauge compatibility for a long-term partnership.&nbsp;“It's almost like dating,” said Powills. “You're vetting each other out to make sure you're the right fit.”Powills recommends exploring an investment that allows you to afford&nbsp;<a href="https://1851franchise.com/multiunitfranchisees">two or three units</a>. Why? There is often a significant gap between signing the franchise agreement and opening for business, which can range from 30 days to a few years.&nbsp;“You’re going to feel like you’re bleeding cash,” said Powills. “You need to be properly funded to withstand this timeframe so that you don't get overwhelmed. Feeling overwhelmed can create significant knee-jerk reactions when buying or building a business, and those knee-jerk reactions can be the difference between good and great performance.”&nbsp;As you progress, you'll encounter&nbsp;<a href="https://1851franchise.com/what-is-a-franchise-fee-2717526">franchise fees</a> and&nbsp;<a href="https://1851franchise.com/what-is-a-franchise-royalty-fee-2718389">royalties</a>, which are typically non-negotiable. Evaluate the franchise carefully, including aspects such as&nbsp;<a href="https://1851franchise.com/how-franchise-suppliers-can-impact-franchise-growth-2718980">supply chain efficiency</a> and the dynamic of&nbsp;<a href="https://1851franchise.com/the-importance-of-a-strong-leadership-team-972">the leadership team</a>. If you are feeling uncertain, never underestimate the strength of existing&nbsp;<a href="https://1851franchise.com/what-strong-franchisee-validation-looks-like-2712150">franchisee validation</a>. If doubts continue to arise, don't hesitate to seek clarity from the franchisor.&nbsp;After your questions are answered, this is the time to move forward. While completing your due diligence is vital, Powills has an interesting take on prolonged hesitation — he compared it to his own experience jumping off a high dive at a community pool.&nbsp;“I walked up there probably 25 times before I jumped,” Powills said. “That's very similar to buying a business. If you keep on getting close and you don't go for it, you're going to constantly find reasons and excuses not to do this now. When you do that with a brand that's growing, you risk losing out on that opportunity because there could be another candidate ready.”1851 Growth Club is here to help you be that “ready” candidate and assist you in navigating the complex process of&nbsp;<a href="https://www.youtube.com/watch?v=HtCb62eFcyQ&utm_source=1851franchise.com&utm_medium=article&utm_campaign=1851-growth-club-how-franchising-works-and-how-to-make-your-decision-2723852" target="_blank" rel="nofollow">buying a franchise</a>. We have resources available on the 1851 Growth Club website and 1851franchise.com.&nbsp;For more information, click<a href="https://www.youtube.com/watch?v=WmgA9rFLt7s&amp%3Blist=PLYoYh1wSeGsTqBrKtJH101pFoV4qlvpGc&amp%3Bindex=2&utm_source=1851franchise.com&utm_medium=article&utm_campaign=1851-growth-club-how-franchising-works-and-how-to-make-your-decision-2723852" target="_blank" rel="nofollow"> here.&nbsp;</a>

1851 Growth Club: How Franchising Works and How to Make Your Decision

1851 Franchise

1851 Growth Club CEO advises prospective franchisees on how to navigate the early stages of the buying process and the downside of prolonged hesitation in investing.

This brand page has been paid for by 1851. Content within this page that is paid will showcase a Sponsored icon. This means the brand has engaged 1851 FRANCHISE to write the content. Content without the Sponsored Icon is aggregated media placements the brand earned. Questions can be sent to editorial@1851franchise.com

1851-growth-club-how-franchising-works-and-how-to-make-your-decision

Jollibee

How Jollibee Is Disrupting the QSR Franchise Industry 

how-jollibee-is-disrupting-the-qsr-industry

USA Ninja Challenge

How This Franchise Consultant Helps Entrepreneurs Find Purpose With the USA Ninja Challenge Franchise

how-this-franchise-consultant-helps-entrepreneurs-find-purpose-with-the-usa-ninja-challenge-franchise

Busy Bee Jumpers

Bouncing Into Business: Meet Kayla and Jason Leonard, Busy Bee Jumpers’ New Franchisees 

Bouncing Into Business: Meet Kayla and Jason Leonard, Busy Bee Jumpers’ New Franchisees in Rhode Island

bouncing-into-business-meet-kayla-and-jason-leonard-busy-bee-jumpers-new-franchisees-in-rhode-island

Woodhouse Spas

Photo of exterior of Woodhouse Spa location

How Woodhouse Spas Leverages Learning Management Systems

woodhouse-spa-franchise-training-lms

Image Studios

image of studios salon suites stylists business owners

Finding Freedom: Why Beauty and Wellness Professionals Build Their Dream Careers With IMAGE Studios

benefits-image-studios-salon-suites

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Development Website Builder

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

Jeni’s Splendid Ice Creams Begins Franchising To Grow Its Fellowship Model

jenis-splendid-ice-creams-begins-franchising-to-grow-its-fellowship-model

Design with American and Federal Reserve flags against light blue background

Federal Reserve Expected To Cut Rates by Quarter Point, a Move That Could Boost Franchise Growth

fed-rate-cut-boosts-franchise-growth

Potbelly to be Acquired by RaceTrac in $566 Million Deal 

racetrac-acquires-potbelly-in-566-million-deal

Health Care Hiring Slowdown Highlights In-Home Care Franchise Opportunities - 1851 Franchise Agg

Health Care Hiring Slowdown Highlights In-Home Care Franchise Opportunities 

health-care-hiring-slowdown-in-home-care-franchise-opportunities

Caribou Coffee Names Scott Kennedy CEO, Eyes Continued Growth

caribou-coffee-names-scott-kennedy-ceo-eyes-continued-growth

Hely and Hiral Patel Bring Their Longtime Dream to Life With The Brass Tap

brass-tap-franchise-pasadena-maryland-hely-hiral-patel

Franchisee spotlight graphic with photo of Ricki Oberoi and Layne's Chicken Fingers logo

Multi-Unit Wendy’s Operator Signs 12-Unit Deal With Layne’s Chicken Fingers

ricki-oberoi-laynes-chicken-fingers-growth

graphic image of an 1851 franchisee spotlight brayden and johnny steven of teriyaki madness

Father-and-Daughter Team Bring Teriyaki Madness to Wichita, Kansas, With Big Expansion Plans

johnny-brayden-steven-teriyaki-madness-wichita

photo-of-laynes-chicken-fingers-dalton-dennis-southern-oregon

23-Year-Old Entrepreneur Brings Soon to Be Famous Chicken™ to Southern Oregon With 3-Unit Layne’s Chicken Fingers Franchise Signing

laynes-chicken-fingers-dalton-dennis-southern-oregon

1851 Keyword - The Secret To Succeeding With a Part-Time Franchise Is Picking the Right Model

1851 Growth Club: How Franchising Works and How to Make Your Decision

MORE STORIES LIKE THIS