10 Steps to buying a Franchise Business – Step 1 – Evaluate yourself
Do you know that bees have an incredible ethical conduct, they have clear standards that regulate their behaviour and keep their mission on track. Their shared values are instilled through frequent messages as well as the demonstrable behaviours of higher level bees.
Have you ever watched the film called “Sliding Door?” if you haven’t go and watch it. If you have you will agree with me, everything you do in life is about that split-second decision. Whether you catch the train or you don’t because a little girl is in front of you. Your life changes every time you make a decision.
It comes to a time in your life when you get to a crossroad, I remember mine very clearly, working silly hours, children at home with an au pair, never having time to see them or the energy to do anything with them when I was off, off?? Sorry, a few hours break maybe… something had to give, I couldn’t carry on like that and I actually didn’t want to.
Whilst working at a luxury hotel in Jersey, we had monthly mystery guest visits from a UK company and I realised there was a gap in the market for a similar service with local knowledge. This excited me and gave me the impetus to leave my secure job to pursue this idea. I sold my house and used the profit to set up on my own in 2009 to provide a service that filled this gap. And so, the next chapter of my life began.
- Have you had enough working for someone else?
- Is it time for you to develop your potential and put all your knowledge into your own business?
- Do you want a better work/life balance?
If all of those questions are coming into to your head perhaps it’s time to for you to seriously ask yourself what you really want from your life and would running your own business is what you really want, what would you like to achieve by owning a business?
- what hours do you want to work,
- what expertise can you bring to a business,
- where do you want to live and run your business from?
- do you have the support from your family, partner, husband/wife, are they 100% behind you?
Running your own business can be very scary especially if you have never done it before, that’s why Franchising is a safe but exciting way to start your own business, with the support of the Franchisor you will never be alone on the business journey which can sometimes be scary but you do need to make sure you pick right one for you. If you want to be your own boss, make sure you’re finding the best franchise for you, which may be different than what you thought given the market conditions.
Because although a Franchise is a great way to start a business with a support network, it is still running a business and take time, effort and a lot of energy to do that…
And last but not least, and I know it seems a little strange to talk about this when you are just looking at starting up but… what your exit plans are in the future.
Once you understand what’s important to you, you’ll be able to evaluate any franchise opportunity and know if it’s a good match.