When you are thinking about buying a franchise, there are a lot of factors to consider before making a final choice. You need to know that you’re doing the right thing because it can be very expensive and you probably won’t be profitable on day one. So, you’ll need to be able to keep going until profitability. If you do your due diligence before choosing a franchise, you’ll get there.

Personal Factors to Consider

* Skills – Do you have the skills to do the job you will need to do for your franchise choice? For example, a food or retail franchise will require you to spend an enormous amount of time on your feet.

* Desire – Do you really want to do “that”? Whatever it is. Every job has things to do that are not fun. Taxes, paperwork, data entry, stocking and so forth. Well, you may be the type who likes those things, but you know how it is. There are things you won’t like doing, but if you have a desire and passion for delivering the results of what your business delivers, you’ll do great.

* Time to profitability – How long can you hang on without making a profit while also paying all the bills associated with your new business franchise? How long can your family survive?

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