THE DO’S AND DON’TS OF INVESTING IN A FRANCHISE THIS YEAR

By Kimberley J. Daly

Investing in a franchise can be a great way to advance your learning curve of starting a business, learn how to grow into a successful business owner, and have the leverage, tools and support to really scale your business to build wealth and the life of your dreams. But franchising is not a bulletproof guarantee of success in business. If you are ready to invest in yourself and your future and are considering exploring franchise opportunities, here are some important do’s and don’ts to consider before you invest.

Evaluate yourself to see if you’re ready to take the plunge.

Don’t invest in a franchise if you

• expect someone else to make you successful,

• think it is the franchisor’s job to find your customers, get your phone to ring, or make you money,

• can’t afford to lose money—fiscally or emotionally,

• can’t put in whatever time is necessary to build your future,

• are not properly capitalized,

• need to make money immediately,

• have no patience,

• are not a leader or don’t want to become one,

• don’t enjoy people or want to serve others,

• have no faith in yourself, in others, and in God,

• are not open to learning and growing in every aspect of your being and life,

• don’t want to be challenged,

• want comfort, or

• are not a goal setter and have no vision for your future that is bigger than what you can accomplish by just doing what you currently do.

Do Invest in a franchise if you

• are ready for the best adventure of your life,

• are ready to be uncomfortable

• are ready to be 100% accountable to your results—even when they are not what you hoped they’d be,

• can afford to invest money,

• can afford to lose money—because sometimes things have to go wrong before you understand how to make them go right,

• have the time to invest to build your business—whatever that means—either yourself or through people, systems, and tools,

• are decisive without consulting a lot of other people,

• are ready to own your results every single day—even when they are not what you had hoped for,

• want something that money can’t buy—inner strength that comes from growing, struggling, working it out, and staying committed,

• can trust the process, timing, and yourself,

• are excited to serve others because you know that it is in giving that you will receive, and

• have a vision for your future where once you learn and grow and have the experience that is necessary to be successful, you can be the owner, have the business, and live the life you are dreaming about today!

For help identifying the right franchise and learning how to explore options with confidence, please reach out to Kim Daly, franchise consultant at kim@thedaly coach.com. ◗

Kimberley Daly is one of America’s top franchise consultants, a motivational speaker, business coach, and author. With over 22 years of experience as a small business owner and franchisee, she brings energy, wisdom and passion to her candidates as she helps them explore franchises matched to their background, interests and goals. She thrives on helping people achieve their dreams. She lives on the beach in southern New Hampshire and can be reached via kim@thedalycoach.com

ARTWORK BY SHUTTERSTOCK