Acquiring a franchise business can be rewarding, but does require serious consideration. Some of the important steps to take are:
- Doing thorough homework about what the chosen franchising business entails, so that they have the correct expectations
- Ensuring that it’s feasible
- Understanding the brand that is being bought
- Understanding the local market and finding the right location
- Having an ‘own’ contribution of about 40% to 50% of the start-up costs
- Bringing plenty of passion and energy to the venture.