Joel Libava
If you’ve been on the hunt for a franchise for awhile, you know about roller coasters. Emotional ones.
One some mornings, you wake up feeling confident about the your future. You find yourself daydreaming about the possibilities. Some of them may include;
- Quitting your nasty-ass job
- Spending more time with your kids
- Having the ability to save oodles of money for their college education
- Paying off all of your credit cards
- Choosing a franchise that feels right
- Cutting the ribbon during your franchise’s Grand Opening
- Seeing your customers lined up waiting to get in your store
- Owning multiple locations
- Retiring in a location that has turquoise-water
Or
You’re tossing and turning on a nightly basis. Because you’re freaking out. (About the possibilities.)
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Some of these possibilities include;
- Having to stay in a job that makes you physically ill
- Choosing the wrong franchise business opportunity
- Blowing through your start-up money much faster than you planned
- Obtaining a second mortgage just to stay in business
- Avoiding conversations concerning college applications
- Wishing for customers to appear inside of your store
- Losing your business
- Losing everything
What’s Stopping You From Buying That Franchise?
Both scenarios above are possible when you take on something as big as business ownership. Not everyone is cut out for it.
If you do enough things right, you have a shot at real success. If you skimp on things like due diligence, or you purchase a franchise that’s clearly above your financial comfort level, you can lose a lot.
I purposely presented those extreme examples of what could happen if you choose to become the owner of a franchise. That’s because every franchise buyer experiences daydreams-and sometimes even nighttime dreams that are similar to the ones I presented.
Are your dreams stopping you from your dream?
If there is something stopping you from buying the franchise you’ve been investigating, what is it?
Maybe if you tell me in the comment section below, I can offer a suggestion on how to work through it.
About the Author
Joel Libava is The Franchise King® — an independent franchise advisor with 25+ years in the industry, two published books on franchising, and his writing has been featured in The New York Times, Forbes, CNBC, Entrepreneur® Magazine and others. In addition, he wrote exclusively for the U.S. Small Business Administration blog for eight years. He doesn't sell franchises. Instead, Joel helps you figure out if franchise ownership is actually right for you — and if it is, teaches you his powerful, proven-to-work franchise research techniques, so you can make a smart, informed decision on a franchise to own and be your own boss.
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