Are you looking at franchises? Do you have a list of potential franchise opportunities compiled?
If so, great!
Stop with the fear, already. There’s nothing to be afraid of.
Keep reading. You’ll see why fear shouldn’t be in the picture yet.
There is absolutely no reason to freak out about anything…about something that may-or may not-happen in the future.
Are you afraid of losing your money?
You haven’t done anything yet. You’re only “looking” at franchises.
Are you worried about buying a franchise and ending up with a lousy location?
You haven’t done anything yet. You haven’t signed a lease.
When it comes to franchising, it’s first things first. Don’t succumb to fear before you even get started. It’s a waste of energy.
Get The Facts
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Start by educating yourself. Start here.
“I’ve learned that fear limits you and your vision. It serves as blinders to what may be just a few steps down the road for you. The journey is valuable, but believing in your talents, your abilities, and your self-worth can empower you to walk down an even brighter path. Transforming fear into freedom – how great is that?”
– Soledad O’Brien
Even if you heed my advice, and start educating yourself on franchising-and on how to buy a franchise, you still may feel a few twinges of fear from time to time.
It’s okay. You’re human. It’s to be expected. Just try to control your fear for now. There will be plenty of time to be fearful…right before you sign your franchise contract and send in a big check to the franchisor.
This may help you. It’s an acronym for fear.
False Evidence Appearing Real
Think about it; what evidence do you have that says you would end up losing your money if you buy a franchise?
The answer: None. All you have is mental baggage. Stuff your brain has accumulated over the years. Things you’ve “heard” about franchising.
Now would be a good time for you to learn about some of the things you may have heard about franchising….some of the myths. Read my article on franchise myths now. When you’re done, pop back and get the following fearful things about buying a franchise out of your head:
- How many other franchises of the concept I’m interested in are there around my area?
- Will I be able to secure a small business loan?
- Will I make enough money?
- Could I lose all of my money in this venture?
- Will my family be okay with me buying this franchise?
- Should I just get a job instead of risking my money now?
Read more on this topic from my franchise article at SBA.gov.
First Things First
When you’re looking at franchises, it’s important to focus on what’s in front of you.
The thing in front of you used to be a glossy, 15-page franchise brochure.
Now, it’s a franchise website.
Start there. Look things over. Take some notes.
Then arrange to have a phone call with the franchise development rep.
First things first. See if you like what he or she has to say.
Then, go to the next step.
It may be onto another opportunity. Or, you may like what you heard, and continue in your investigation.
Either way, you’re not even close to buying a franchise.
This is a one-step-at-a-time process. Go through it slow and steady. Step-by-step. Inch by inch.
And, maybe…just maybe, you’ll end up on the other side.
The side where you get to be the boss.
Image of Soledad O’Brien, By The Rudz from Milwaukee, USA – Soledad O’Brien lunch with students, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=5176192