There’s many people out there who would like to leave their current dead-end job and start working for themselves. They’re looking for a job that cannot be taken away from them and where they’re the boss. Big corporations are always downsizing, sending good jobs to cheaper places overseas or automating certain task they used to hire people to do.
Many aspiring entrepreneurs look to franchising – which has many benefits, especially for novice business men and women. But, franchising is not a guaranteed success – you must do the research to find out if the opportunity is legitimate and right for you.
It’s a good idea to pay an attorney to evaluate a franchisor/franchisee agreement to be sure it is something you are comfortable with and to prevent yourself from being exploited. You’re most likely not going to be able to negotiate changes to franchise agreement so look for an agreement the franchisor has negotiated with its franchisee advisory group.
Above all, understand what you are agreeing to and if it doesn’t seem right, walk away. Once you are part of a franchise, you’re committed to their success too so you will have to do things their way – there’s little room for you to change things.
Franchising can be a great way to start a successful small business. They have brand recognition built into their name and you can benefit from the support a franchisor offers – in the end, their success depends on yours as well.
