Franchising continues to grow as both a methodology to grow and expand a business and as a way to start your own business. Over the last 3 years over 900 new business concepts have chosen franchising as a way to grow with over 500 of those in 2005 alone. It seems as though franchising has reached such a point of credibility and success that it is a now a preferred method of business development.
While it is true that the vast majority of franchise growth has been in the US there are indicators that growth is starting to take off in Austrailia, India and other countries worldwide.
But are franchises for everyone and how do you make that evaluation for you personally and then how do you make a good decision BEFORE purchasing a franchise?
Fortunately we have an expert, Marty McDermott (photo) of FranchiseInterviews.com to help us answer the obvious and not so obvious questions around franchising.
Marty shares that there are 2 key factors that should be present before you consider buying a franchise:
* It should be a business that you have passion for; and,
*You MUST be willing to follow the system or process that the franchisor has defined.If you are a little more of an ‘outside the box’ individual then you might struggle to have the discipline to follow a system every day.
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