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5 Big Mistakes People Make When Buying A Franchise

by | Dec 2, 2021 | Blog

โ”‚๐Œ๐ข๐ฌ๐ญ๐š๐ค๐ž #๐Ÿโ”‚ ๐Ž๐ง๐ฅ๐ฒ ๐Ÿ๐จ๐œ๐ฎ๐ฌ๐ข๐ง๐  ๐จ๐ง ๐Ÿ๐จ๐จ๐ ๐Ÿ๐ซ๐š๐ง๐œ๐ก๐ข๐ฌ๐ž๐ฌ

Hereโ€™s the deal…there are a number of high-quality non-food franchises out there that are…

โœ… More profitable

โœ… More lifestyle-friendly to operate, and

โœ… Cheaper to get intoThe only problem is theyโ€™re hard to find.

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โ”‚๐Œ๐ข๐ฌ๐ญ๐š๐ค๐ž #๐Ÿโ”‚ ๐…๐š๐ฅ๐ฅ๐ข๐ง๐  ๐ญ๐จ๐จ ๐ฆ๐ฎ๐œ๐ก ๐ข๐ง ๐ฅ๐จ๐ฏ๐ž ๐ฐ๐ข๐ญ๐ก ๐ญ๐ก๐ž ๐ฐ๐ข๐๐ ๐ž๐ญ

Look…we all want a business we can make a bunch of money with that revolves around our passion.

The reality is that business probably doesnโ€™t exist.

Now, if you can get passionate aboutโ€ฆ

โœ… More freedom in your life

โœ… Building a team of people who love working for you (and want to run the business for you), and

โœ… Creating an income-producing asset that you can sell one dayโ€ฆ

…youโ€™ll find some interesting franchises to explore.

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โ”‚๐Œ๐ข๐ฌ๐ญ๐š๐ค๐ž #๐Ÿ‘โ”‚ ๐”๐ฌ๐ข๐ง๐  ๐ญ๐ก๐ž ๐ฐ๐ซ๐จ๐ง๐  ๐Ÿ๐ฎ๐ง๐๐ข๐ง๐  ๐ฌ๐ญ๐ซ๐š๐ญ๐ž๐ ๐ฒ

Youโ€™ve probably heard a big reason new businesses fail is because they run out of money. The truth is thatโ€™s probably because they used the wrong funding strategy to begin with.

One of the biggest advantages to investing in certain* franchises are the funding options available.

โœ… There are some โ€œlow-money downโ€ options through the SBA that donโ€™t require a ton of cash.

โœ… Thereโ€™s also a way you can tap into pre-tax retirement funds like a 401k plan without having to pay taxes and penalties.

*I say โ€œcertainโ€ because the SBA and banks will only fund franchises they feel comfortable with.

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โ”‚๐Œ๐ข๐ฌ๐ญ๐š๐ค๐ž #๐Ÿ’โ”‚ ๐‘๐ž๐ฅ๐ฒ๐ข๐ง๐  ๐จ๐ง ๐ญ๐ก๐จ๐ฌ๐ž ๐Ÿ๐ซ๐š๐ง๐œ๐ก๐ข๐ฌ๐ž-๐ซ๐š๐ง๐ค๐ข๐ง๐  ๐ฐ๐ž๐›๐ฌ๐ข๐ญ๐ž๐ฌ

Ever scrolled through those franchise ranking websites like youโ€™re shopping for a new frying pan on Amazon?

Well, just like how Amazon controls which frying pans you see, so can those franchise-ranking websites.

Plus, as soon as you find a franchise you think is interesting and request more information, get ready to become a very popular person because your information probably just got sold to a bunch of other franchisors and brokers who are hungry for a lead!

Thereโ€™s an easier way to find the right franchises to explore that most people donโ€™t know about.

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โ”‚๐Œ๐ข๐ฌ๐ญ๐š๐ค๐ž #๐Ÿ“โ”‚ ๐ƒ๐จ๐ข๐ง๐  ๐ญ๐ก๐ž ๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐ญ๐ก๐ž ๐ฐ๐ซ๐จ๐ง๐  ๐ฐ๐š๐ฒ

Look, just because a franchisor publishes a juicy Item 19 in their FDD doesnโ€™t mean anything.

There are a number of layers to a franchise that need to be analyzed to make sure itโ€™s the right fit.

So buckle up and prepare for a thorough process that includesโ€ฆ

โœ… A number of conversations with a sales rep franchise the franchisor whoโ€™s going to make their business seem like the greatest thing since the Magic Eraser

โœ… Reading lots of dense text written by attorneys in the FDD

โœ… Having a number of discussions with actual franchise owners of that brand (and not just sitting on conference calls or listening to recorded calls)

โœ… A few of your family and friends telling you โ€œyouโ€™re crazyโ€

โœ… Talking to different funding companies that specialize in funding franchises, and

โœ… Some sleepless nights as you think about this life-changing decision.

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The good news is if you do your research the right way, have the right advisor, and find the right franchise, it should all be worth it!

And you can learn all of this by claiming your free copy of The Franchise Investment Guide.

By reading this book, youโ€™ll have an advantage over most people researching franchises right now because youโ€™ll learn how to get inside access to some of the top non-food franchises in the country.

On top of that, youโ€™ll learn how to analyze a franchise to figure out if it has the potential you want.

https://www.franchiseinvestmentsystem.com/FreeBook

The Franchise Investment Guide is written by one of the leading franchise consultants in the country, Dru Carpenito.

Dru is a franchise industry expert who has over fifteen years of experience helping people buy, build, and sell (as in cash out) franchises.

And he shares his secrets with you in this book.

https://www.franchiseinvestmentsystem.com/FreeBook

Claim your free copy now!

The First Step is a Conversation.

If you have that burning desire to build your own successful business so you can live a life you can only have working for yourself, letโ€™s talk.

The First Step is a Conversation

The first step is a pretty simple one: We have a conversation.

After we speak, weโ€™ll be able to figure out if there is a good fit to work together.