On Franchise “Matching“
A few years ago, I read about some new software that could “match” prospective franchise owners to “the right franchise.”
What a crock of sh*t. Look. Just what the world of franchising needs. A “sophisticated franchise matching tool.” For that “human” touch. And now, potentially hundreds of franchise brokers are using this magical software with everyday people who are considering franchise ownership. People who may end up investing $200,000 or more so they can take more control of their lives by being their own boss. Freaking perfect.
A Theoretical Free Franchise Consultation Using This Magical Franchise Matching Software
Let’s see how a franchise consultant makes a franchise match with the software.
Franchise broker:
“Well, here’s the printout of your score, using our “Ultimate, Amazing, Super-Laser, Franchise Matching Tool. If you’ll just put on these 3-D glasses, you’ll clearly see that your personality profile is a B877Z-TR.”
The Sucker:
“Yes, Jack, I see that. But you know, I am little worried. I took that profile of yours on a Monday. Monday’s are not good days for me. And how will this profile you took help me find a good franchise opportunity?”
Franchise broker:
“No worries. Our tool compensates for days of the week, lunar cycles, and even mild earthquakes felt in Indonesia. That said, according to my franchise opportunity matching tool, you need to look at Coaching franchises.
The Sucker: “I see. Like a sports thing? I’m not very good at dribbling.”
Dribble. Dribble. Dribble…..
Hooey
What a bunch of hooey.
Seriously; who the heck would put their life-savings on the line to buy a franchise based on an algorithm? You? I hope not.
Call me crazy, but when it comes to something big, and potentially life-changing (like becoming the owner of a franchise business for the first time), my gut tells me that human interaction is needed. Not some type of plug and play gadget supposedly designed to help you find a perfect franchise.
A gentle tip from The Franchise King®:
Do not buy a franchise until you know EXACTLY how to do thorough research.
Learn how here
As a matter of fact, if you are looking to match yourself to a franchise that makes sense for you-and become profitable, is to follow a simple, step-be-step process.
The Steps To Successful Franchise Ownership
I specialize in helping people not lose money on a franchise.
If that’s something that interests you, follow these franchise purchasing steps:
1. Determine why you want to buy a franchise.
2. Learn about the franchise business model.
3. Make sure you are 100% comfortable following rules.
4. Put together a list of your top skills.
5. Create a list of your dominant personal traits.
6. Put together a net worth statement so you can figure out your budget for a franchise.
7. Search for franchise opportunities that closely match your top skills and dominant personal traits Try to make a franchise match based on those things.
8. Contact the franchisors that seem to match up.
9. Start doing your research. (Use “The Definitive Guide to Franchise Research.”
10. Figure out your funding and write your business plan.
11. Arrange a visit to headquarters.
12. Once you’ve narrowed down your choices to one, hire a franchise attorney to go over your franchise documents, so you can make an informed decision on the business you want to buy.
And if you’d like details on how to work thought each of the steps I just laid out, check out this comprehensive article on exactly how to buy a franchise.
Finally, if you want to make sure you’re on the right track, or if you would like some fresh ideas, you can work with me…I can help you a lot.
Plus, I’m a human.
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