Franchise
Seven Sure Steps to Choosing a Franchise
CHICAGO BUSINESS
OPPORTUNITY FAIR
F
ranchising is a wonderful way to go into business for yourself. have the required capital, the territory he wants is not available,
So many things have already been established for your be- and he’d have to give up weekends if owning a food franchise.
nefit: branding, marketing, processes, products, systems, etc. Another ineffective way to begin your franchise research is to
Building a business through franchising has been so successful lock yourself in to one or two concepts. If you think, “I’ll only
that franchised businesses generate jobs for more than 18 mil- look at ice cream and exercise franchises,” you may miss finding
lion Americans and account for 10 percent of the private-sector that that gem of a concept that would mesh perfectly with your
economic output, according to a study recently released by the needs.
International Franchise Association Educational Foundation. With thousands of franchise companies available, keeping an
If you are convinced that you want to investigate franchising open mind is the best strategy you can employ to get on the
for your next career move, how do you go about finding just the ground floor of that new, hot concept or to find something that
right one? will really take off in your market.
This is one subject about which much as been written. Eve-
ryone has their own version of what you need to do to find that
one, perfect concept for you and for your market. At FranChoi-
STEP 3
ce, helping people find their ideal franchise opportunity is what Let’s say you’ve found an assortment of franchises that look
we do. As a result, we have worked with thousands of people promising. What do you do next?
looking to find the right franchise and realize their dreams. Contact the franchisors and request information about their
Here then is our recommended approach of determining what concepts. You will probably get a call from someone in the fran-
to look for in a franchise that will meet your needs, expectations chise development department who will gauge your interest and
and goals: advise you if the territory you seek is available. You will want to
thoroughly view the web site information and any brochures and
STEP 1
videos they send you.
Keep notes on your impressions. Are their materials profes-
Before you start looking at franchises, take stock of that most
important component of the equation – YOU.
„ What skills, experience and interests do you have?
„ Consider your past jobs and determine what you liked best
Climbers
TM
and least about them; then make a list of your strengths and
T
weaknesses.
ethnicity
o us, di
. It
versity
means
means
W
mor
anted.
e than
„ How much money can you invest and how much would you
manufact
developing,
like to make?
„ Are you comfortable managing others or would you prefer in
life-
sev
enhanc
uring
ing me
and
dic
mark
al te
e
c
t
hnolog
ing
ies
to work alone?
„ Where do you want to work? Are you willing to relocate?
It means
eral therapeutic fields.
„
that
What hours are you willing to work while the business
around
spans
culti
the
a
globe
v
v
ar
at
iet
ing
y of
a w
c
orkfor
ultures
ce
ramps up and what lifestyle expectations do you have after
the business is established? And it means fost
.
„ How do you feel about selling and the sales process?
of talented
ering the careers
By starting with a list of what you have to offer and what you
their bac
individuals, whatever
need from a business, you can create a strategy and model for
interest.
kground or avenue of
your research.
T
STEP 2
Visit
ake
www
us
the
at
ne
:
xt step in your career.
Keep an open mind. Whether (at Step 1) you use a resource
www
.crbard.com/careers
.facebook.com/bardcareers
like FranChoice or do your own franchise research via the In-
ternet, it is best to keep all options open when considering a
franchise.
An inexperienced person may approach the process by thin-
king, “Well, I love donuts. How about a donut franchise?” And
C. R.
after spending days or weeks of research on Krispy Kreme,
Equal
Bard, Inc.
Opportunity
is an Affirmative
Employer
Action/
Dunkin’ Donuts and others, the individual may find he doesn’t
The Black E.O.E. Journal
www.blackeoejournal.com 55
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