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From Employment To Buying A Franchise? Here’s How You Do It…

You might be reading this article because you have fallen into the ‘employment trap’ and now need to remove yourself from it. You have decided that a guaranteed regular income and the perks that come with a job are no longer sufficient for you, after all, sometimes it is not just about a great salary is it, post pandemic behaviour has taught us that hasn’t it! However, what are the steps from moving where you are right now, to purchasing a franchise? This short article is just for you!

There Are Three Ways To Owning A Business

For completeness these are: starting your own business, literally from scratch, you could even buy an established business, or you can buy a franchise. When you see it like this, everything seems so much simpler don’t you think?

Each of these options will get you the outcome you need to be able to morph out of employment, and each one will have it’s very own set of challenges, for now, we shall focus on franchising, which, by the way, can be a brand new franchise, or an established franchise, often referenced to as a ‘franchise resale’.

Why Look To Buy A Franchise?

The fact is, the whole point of a franchise is that it is a proven model, and you might well want something that you know has a much higher chance of success than going out there on your own.

Check the facts for yourself, there is very little else that has a higher chance of success than franchising can bring you, it is fair to say though that there does still need to be some further checks on the modelling to ensure it will be appropriate for where you want to operate, however, this can often be done with some mutual market research, which will satisfy not only yourself but the franchisor too.

How Will You Fund Your Franchise Purchase?

Look at the initial cost to purchase, should you be ‘awarded’ with the franchise opportunity. There will be initial and ongoing costs to consider, this is just part of what financial outlay you can expect, but what about behind the scenes?