How to choose the right franchise for you
By The Franchise Centre at Griffith University
There are consumer signposts everywhere in modern society for people looking to make purchases of all shapes and sizes.
But how do you find the same roadmaps that will guide your way into franchising?
For large purchases such as a house, car or holiday, right down to everyday dining or grocery items, consumers now have a myriad of ratings and comparison mechanisms at their fingertips. From open for inspection and test drive checklists to detailed advice on choosing holidays, restaurants and household products, knowledge is power in the modern decision-making process.
Buying a franchise is arguably the biggest and most important decision that someone will make in their lifetime, and is one that will have a huge impact on their finances, work-life balance and future. It therefore makes sense for this decision to be afforded the same level of scrutiny, comparison and analysis as more routine and less-influential purchases.
As part of its commitment to promoting better decision-making in all things franchising, Griffith University’s Asia-Pacific Centre for Franchising Excellence is proud to announce a ground-breaking new product for those who have chosen to buy a franchise but have yet to decide which one.
‘How to choose a franchise that is right for you’ is a unique tool, not available anywhere else in the franchise sector, that provides the framework for successfully navigating the process of buying a franchise. It is 100% impartial and independent with no vested interests or selling of specific franchise systems.
The overriding goal of this new self-guided product is to empower those seeking to buy a franchise to take full responsibility for what is a life-altering decision. To probe, question, compare and analyse, not just blindly accept what someone selling a franchise says. It is the only product of its kind that will step you through the process of actually deciding which franchise is best for you, with no strings attached.
The launch of the ‘How to choose a franchise that is right for you’ is an extension of the renowned pre-entry franchise education programs provided by the Asia-Pacific Centre for Franchising Excellence. The focus of pre-entry education is on deciding if franchising is indeed the right path for you. Once the decision to buy a franchise has been made, this new product outlines the next steps on choosing which one is right for you in a detailed and systematic way.
There are endless franchises out there to choose from and plenty of traps for unsuspecting new-comers to franchising. This product will help you to avoid the pitfalls, save you money in the long run by making the right decision up front, and set the foundations for a successful and sustainable franchise journey.
‘How to choose a franchise that is right for you’ is presented in six easy-to follow modules that provide the framework and signposts to guide you in this most critical of business decisions:
- Module 1 – Getting ready
- Module 2 – Analysing a franchise
- Module 3 – Asking the questions
- Module 4 – Going through the paperwork
- Module 5 – Analyse the business offer
- Module 6 – Become a franchisee
This is the essential guide to choosing, buying and becoming a franchisee, in a franchise that is closely aligned to your personal, professional, financial, lifestyle and future goals.
It empowers the prospective franchisee with the know-how to expertly navigate this process, covering everything from understanding franchise terms, the questions to ask, the paperwork and costs involved, due diligence and the professional advisers you need on board.
The product is filled with valuable tools, checklists, calculators, timelines and templates to ensure you are making the most informed and rigorously road-tested decision possible.
Are you ready to start your future in franchising? Visit ‘How To Choose A Franchise That Is Right For You’.
This article was first published on www.franchise.edu.au. To go to the original article click here.
