Apr 10 2024 29 mins
“Don't fall in love with a business or industry, or whatever it is, early on. If you’re looking at franchises, make sure you take the time to talk to other franchisees in the system and talk to a lot of them. Ask the tough questions about worst-case scenarios as well as the positive aspects of the business. Make sure you think about your potential customer base and how that might be evolving because things don't just stay the same in any industry. Keep an open mind.”
It’s normal to feel excitement about a business or industry as long as you can approach your research with a practical and open-minded mindset. It’s important not to let your emotions persuade you when considering a business to own. Using a rational and reasonable approach to your options can help ensure that the franchise opportunity you choose is the right fit to help you achieve your lifestyle and income goals.
We cover many current and relevant topics. A few include:
◈The importance of family support when delving into a new business venture
◈Having a supportive sounding board when researching a business
◈Ways to reduce risk in starting a business