If you have decided that franchise ownership may be
for you, do you feel it makes sense, at least logically, to seek out people in
your local area that know about the franchise industry? Maybe you feel that it
is not important to work with local resources. Let's look at the top 5 reasons
you should consider changing your thinking:
1. Local resources in franchising know what
types of franchise concepts already have a large presence in your local area.
{Or are about to!}
Back up your PC this year!
2. Local
resources in franchising know what gaps exist in your local market, and
have access to the concepts that can help fill those gaps.
3. Local resources in franchising know the
franchise history of your local market. They have seen the concepts that have
failed, and they have seen the concepts that have prospered.
4. Local
resources in franchising know the franchise industry trends, and can
help you get involved in them, immediately.
5. Local resources in franchising need you
to succeed. After all they live in your local market, also. If they help you
find a franchise that you ultimately decide to invest in, if you do well, the
local area does well. If you do not do well, the area suffers, you suffer, and
this resource suffers, also. Local resources have real skin in the game.
There are several other reasons to work with a local franchise resource,
including:
1. Access to proven local lenders
2. Access to your area's best in franchise legal resources
3. Access to great local accounting and tax firms
There are a lot of so called franchise "specialists" in the industry.
Most of them don't work in their local area. They don't meet their franchise
candidates in person, but instead work the phone, "dialing for
dollars." If you have been looking online for a franchise, you have
probably received these phone calls. 9 times out of 10, these
"specialists" are from out of town. {Usually way out of
town}
They are out to make a sale, and if
they do, will never have skin in the game, locally. What are the chances that
an out of town franchise broker/consultant knows anything about your
local area? None! {Or for that matter, even cares about your local area, and
local economic development}
Another thing for you to think about Do you really want to share your personal and financial data with someone
is this:
who may be 1500 miles away? If this broker succeeds in "making the
sale", do you think you will ever hear from them, after you start your
franchise? If you fail, it is no skin off of their backs! You never met them
face to face, and never will.
Hopefully, for your sake, you will
choose to only work with a knowledgeable local franchise specialist.
Since this is your money you may decide to risk, I suggest that you have
a list of questions to ask a local franchise specialist about their
experience, and their length of time as a franchise specialist.
With our economy in lousy shape,
currently, it is even more important to work with local resources. Protect
yourself!
If you decide to start exploring
franchise ownership opportunities, start with your local resource. They know
your area, and there is nothing like a face to face meeting. Investing in a
franchise is serious business. Work with local resources.
Of course, if you choose to work with local resources, you are keeping money flowing in your area, instead of an out of town franchise consultant/broker, who's fee goes back into his or her area. You don't want that, do you?
Here is an important article concerning buying local!
{I specialize in the Northeast Ohio market area,
and will be happy to answer your franchise questions, anytime. Since I really
know what works and what doesn't work franchise-wise in Northeast Ohio, I am
only comfortable working with you if you live here, or are moving here,
However, I have been in franchising long enough to have a network of franchise
resources all over the US. {Even Canada}
Contact me if you would like to talk and see if it may make sense to work
together, in Northeast Ohio, or to get referred to a franchise specialist in
your area.
Call 216-831-2610,
or email franpro at sbcglobal dot net
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