A common and fundamentally important question I’m asked many times a week is “Do you know a good franchise system to buy?” The answer to buying a good franchise system hinges upon five key elements or ‘bases’ which will be discussed below
Buying either a new franchise business opportunity or an existing franchise business can be likened to playing softball. You need to navigate your way around all bases to find the right franchise business that works for you, and be successful! So it is with buying a franchise you need to successfully negotiate in each base to be successful in choosing a franchise business that works for you.
Navigating through the process of selecting and buying a business can be a challenging process. The stress of not knowing what you don’t know can be reduced by taking good advice, relevant research and following due process.
Do you know a good franchise system to buy? is a question I’m asked many times a week with clients seeking advice on buying a franchise business. The answer to this question is dependant on a number of various elements.
So what are the five bases to methodically evaluating a franchise business? The following are five fundamental bases I’d suggest you must pass in making your decision on buying an existing franchise business.