SCORE Small Business Blog

Franchise: Five Keys to Buying a Franchise
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Finding the Right Franchise for You

A question I hear often is, “If you were in my shoes, what franchise would you buy, or what is the hottest franchise right now?” I repeatedly come back to them with the statement that it does not matter what I think, it matters what you think, since you are the one that will be signing the franchise agreement and ultimately affected by the outcome of the business. Therefore, it only matters what you think. Here are the buying factors that you should think about when buying a franchise:

1. Safety
2. Affordability
3. Success
4. Fitting Your Image
5. Prestige

Those are the 5 buying factors of purchasing a franchise or any business of any kind. The secret is, every one of them must be met and answered in your satisfaction in order for to select the right franchise or business. Let’s discuss each one. I will several posts covering all five.

Jania Bailey, Guest Blogger
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Discussion (1) Comment


  1. Robert BarrVisitor

    Nicely put. A few other things to consider are:

    Financing options
    Training
    Advertising & Marketing
    Ongoing Costs of Operations
    Lifestyle

    Honestly, the number of factors in determining the right (or wrong) franchise is pretty large…so do your homework! :)

 

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