It’s a great concept, that’s for sure. You’ve watched the video and heard the Tony-Robbins-look-a-like guy paint the picture, and you’re in. Hold on—let’s get to the franchise gym first.
Here’s three pieces of equipment you’re going to need in order to be buff and bulging:
- The Right Franchise. Lots of resources here, and they’re all good. The Internet has incredible information, the Franchise Expos are up-close and personal, the Franchise Magazines and Trade Publications are excellent, and then there’s “Social Media”.
- The Right Financing. It’s becoming more accessible—but it’s harder. The time to shop for financing is BEFORE you buy your franchise agreement, not AFTER. You know this from shopping for a house; if you have your loan lined up, you know what you can afford. But too many house shoppers fall in love with the pool and the view at the open house. . . .
- The Right Location (you knew I wouldn’t leave this out). Read my earlier blogs; “’For Lease’”—I’ll Call on the Sign! And “OK, You Bought a Franchise—Now What?” Don’t even go into the open house until you know the neighborhood—and how much the rent is!
Ok, got it. I’ll get started. Good, but don’t overlook getting a personal trainer; one that can get all three parts of your franchise anatomy in shape—a ‘triple threat’. All lot of franchise consultants sell franchises. They’re a little bit like State Farm agents; they’ll consider your needs, but you’ll probably end up with.. . . a State Farm policy.
Find someone who’s a circuit trainer—that’s used all the equipment. After all, what good are big biceps if your quads won’t hold you up. Let’s get it right—right from the beginning. Please email me with your thoughts and comments, and we’ll knock out a ten-pack of pushups together and make sure your whole franchise body is toned and ready!
Jeff is a former franchise executive with several major franchisors, including McDonalds and Blockbuster, and is a licensed
Listen to Jeff live with Gini Dietrich of Arment Dietrich on The Franchise Show featured on AllBusiness at every Friday at www.wsRadio.com/franchiseshow, and hear about some of the most innovative new concepts in today’s franchising marketplace—