June 25, 2018  
 
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Articles for Entrepreneurs

 

Purchase a Franchise

 

Consideration Before Buying a Franchise

Before investing in a particular franchise system, carefully consider how much money you have to invest, your abilities, and your goals. The following checklist may help you make your decision.

Before buying a franchise, consider these factors.
(article continues below)

Your Investment

  • How much money do you have to invest?
  • How much money can you afford to lose?
  • Will you purchase the franchise by yourself or with partners?
  • Will you need financing and, if so, where can you obtain it?
  • Do you have a favorable credit rating?
  • Do you have savings or additional income to live on while starting your franchise?

Your Abilities

  • Does the franchise require technical experience or relevant education, such as auto repair, home and office decorating, or tax preparation?
  • What skills do you have? Do you have computer, bookkeeping, or other technical skills?
  • What specialized knowledge or talents can you bring to a business?
  • Have you ever owned or managed a business?

Your Goals

  • What are your goals?
  • Do you require a specific level of annual income?
  • Are you interested in pursuing a particular field?
  • Are you interested in retail sales or performing a service?
  • How many hours are you willing to work?
  • Do you want to operate the business yourself or hire a manager?
  • Will franchise ownership be your primary source of income or will it supplement your current income?
  • Would you be happy operating the business for the next 20 years?
  • Would you like to own several outlets or only one?

Want to Learn about Franchise Opportunities?

Browse tons of franchise opportunities in the Gaebler Ventures franchise directory:


Our Directory of Franchise Opportunities now includes over 1,400 franchise opportunities. If we're missing a franchise, please let us know.

Related Articles

Want to learn more about this topic? If so, you will enjoy these articles:

Buying a Franchise
How Franchising Works
Selecting a Franchise
Top Five Fast-Growth Franchises


Conversation Board

What's your take on before buying a franchise? We welcome all comments.


Questions, Comments, Tips, and Advice  Code Image - Please contact webmaster if you have problems seeing this image code
Problem Viewing Image
Load New Code

 

 

Additional Resources for Entrepreneurs

Search Engine Marketing

Social Marketing Optimization

Business Forms

Business in the Jungle - Business in Fiction - Negotiating

Radio Ad Costs

Newspaper Advertising Rates

City-Specific Resources for Entrepreneurs

Small Business Insurance

Global Entrepreneurship

China & Entrepreneurs