1851

By MATT DIAZ

You don’t have to be an Olympic athlete to jump these franchising hurdles. Here are five things every potential franchisee needs to know before making their decisions to become business owners.

Real Estate

Finding the perfect location for your franchise can be a challenge and one of the most important decisions a business owner has to make. A good location can be the difference between an extremely successful investment and a flop. Taking the time to carefully plan out a location is infinitely better than rushing to open the doors.

Financing

Obtaining the funding to start a new business can be tricky, especially right now with banks tightening their lending policies. Alternative funding might be the way to go. Many people don’t realize that they have different funding options at their disposal such as using their 401K to finance their business. A good thing to remember is, most of us aren’t experts in financing, so seeking outside council might be a good idea for any perspective business owner.

Talent

Surrounding yourself and your business with top talent can make or break an opportunity. Finding people as passionate about your business can be a challenge, so working towards keeping your top employees is important. Give credit where credit is due and weed out those who don’t fit your culture.

Market Availability

“The territory I want isn’t available…what do I do now?” Well, there are a couple ways around this franchising hurdle. The first would be to purchase an existing franchise. This can often be a good route if the existing franchise has a solid client base or if you know that you could expand or turn around a struggling business. Another way to bypass this obstacle is to bring a new concept to an area or find a competitor of the concept you were initially interested in.

YOU!

Following your dreams, especially when it comes to business ownership, can be nerve-racking. I get it. But taking that plunge can be one of the most exciting things you’ll ever do, but the number one thing to keep in mind is research. That cannot be stressed enough. Research, research and research some more before making any decisions.

1851 Franchise

By MATT DIAZ

You don’t have to be an Olympic athlete to jump these franchising hurdles. Here are five things every potential franchisee needs to know before making their decisions to become business owners.

Real Estate

Finding the perfect location for your franchise can be a challenge and o.....

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

5 Hurdles to Owning a Franchise and How to Get Over Them

5-hurdles-to-owning-a-franchise-and-how-to-get-over-them

The Ultimate Guide to Selling Franchises: How To Create a Strong Incentive

how-to-build-strong-incentives-to-attract-prospective-franchisees

How Car Sales Taught Buddy's Home Furnishings’ Mitchell Lee the Secrets of Franchise Development

how-car-sales-taught-buddys-home-furnishings-mitchell-lee-the-secrets-of-franchise-development

What You Need To Know About Low-Cost Franchise Opportunities

what-you-need-to-know-about-low-cost-franchise-opportunities

Sola Salons Franchisee Grows Salon Freedom Into a Multi-State Powerhouse 

sola-salons-franchisee-grows-salon-freedom-into-a-multi-state-powerhouse

Dan Yangas Brings Family Flooring Legacy Full Circle With Footprints Floors Franchise in Naperville 

Dan Yangas Brings Family Flooring Legacy Full Circle With Footprints Floors Franchise in Naperville, Illinois

dan-yangas-brings-family-flooring-legacy-full-circle-with-footprints-floors-franchise-in-naperville-illinois

Franchisee spotlight graphic with photo of Sean Phelan & Caring Transitions logo