I’ve found a franchise concept that I’m really excited about. How do I make sure my decision isn’t clouded by this?

You’ve had an important realisation in the research process.

It’s not uncommon for a prospective franchisee to be blinded by excitement and passion, along with the brand’s effective sales and marketing people. While it’s important to be passionate and excited about a brand you want to invest in, you need to take your time and continue on your due diligence with a cool head.

During this time you need to make sure that other people (who include other franchisees and of course customer demand in your region) are as excited about it as you. No matter your passion, if there’s no demand for your interest, then there is a risk your investment can turn out disappointing. At the same time, carefully assess whether the concept (if new) has longevity or whether it’s a passing fad.

Before being influenced by your ideas and by the franchisor, speak to existing franchisees to determine whether your impressions marry up to the reality. If they do, proceed to the next step. If not, it’s a good idea to start looking for another concept. Never put all your eggs in one basket. The franchise industry is dynamic and diverse. There are a lot more concepts available than you might at first think.

Tracy Lee Nicol
About the Author
Tracy-Lee Nicol is the managing editor of Franchise Zone Magazine and deputy editor of Entrepreneur Magazine. She studied her Masters degree in Art History and Visual Culture at Rhodes University and spent the next two years working and travelling in Asia. Her love of people, business and teaching is reflected in telling the stories of entrepreneurs, franchisees and franchisors, inspiring others to take the leap to being their own boss and bringing about positive change in South Africa.

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