Final Advice
Here are five main points to remember when making your decision on which franchise system to invest in:
- Find an outlet for what you’re passionate about. Virtually all of the franchisees we speak with mention how much they love the area they are working in.
- Scout your area and match what you want to do with a need in your community. This will increase the likelihood of your franchised business being a success. Also, you will be able to take advantage of local contacts you’ve garnered over the years.
- Finding financing in this economic climate can be difficult. Many traditional avenues of funding are either closed or very rough to navigate. As you look at franchise options, honestly audit yourself to determine how much you can afford.
- Visit other franchisees. During the research process of learning about any franchise you have the opportunity to speak to existing franchisees to gain an even clearer idea of what to expect. Their names and locations should be provided by the franchisor. Take advantage of this opportunity to learn what happens when you open a franchise, in practical terms, from someone who has been there before.
- Make sure you really want to be a part of the franchise system. Franchising is for people who want to own a business, but don’t want to do it alone. If you are an entrepreneur that values independence in making decisions, you will probably find franchising too confining.
Franchising is a time-tested way for everyday people just like you who have made the decision to run their own business. When you’re ready to begin your journey to franchise ownership, browse through our listings on Franchise Direct Ireland and find a franchisor that suits you most.
