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6 Steps To Take Before Purchasing A Franchise

Purchasing A Franchise
Purchasing A Franchise

It’s easy to get excited about owning your own business. You may have found a franchise opportunity that you feel is the perfect fit for your skills and personality. Or you may simply be ready to become your own boss. 

Either way, here are 6 steps to take before purchasing a franchise. 

1. Figure out what it’s like to be a franchisee

Your first step should be to find out what life is like as a franchisee. If you are going to make a career change and financial commitment to owning your own business - you must be sure it is the right choice for you. A good starting point is finding franchisees within your local area to speak too. 

2. Decide if you’re ready to be your own boss

Along with purchasing a franchise comes the responsibility of being your own boss. Are you ready for the challenge? As a franchisee you need to be ready to throw yourself into your business. You will be in charge of all operations and having a personality that suits such a lifestyle is paramount. 

3. Consider your financial situation

Like any new business, a franchise comes with costs. You will require cash to buy and run the franchise. Therefore taking stock of your financial situation and any risks you are willing to take should be completed before purchasing a franchise. 

4. Research the business you’re buying

You wouldn’t think it happens - but it has! Be sure to research the business you are considering buying into. Not doing your due diligence can lead to regrets and purchases that should never have been made. We recommend seeking business advice and speaking to others within the industry to gain a full understanding of your decision. 

5. Take time to reflect

Once you think you’ve made a decision, the next step is to take some time to reflect. Use this time to write pro and con lists. Look inwards. Brainstorm what you want your overall life to look like. Purchasing a franchise should never be rushed and this step - while more airy-fairy than the rest - should never be overlooked. 

6. Consider our unique business opportunity! 

Are you interested in investing in a new career a franchise? If so, take some time to learn about our own offering.

That’s right, we’re seeking Home Sorted! Franchisee partners that share our values, passion for organisation, and genuine care for clients. Sound like you? Get in touch today to learn more about our opportunity and your next career move!

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