Before You Buy A Franchise, Make Sure You Are Up To The Task

Sun-Sentinel:

… In buying a franchise, ‘most people gravitate toward what they love,’ says Lori Kiser-Block, president of FranChoice, at the recent Franchise Expo South in Miami. FranChoice, based in Eden Prairie, Minn., is in the business of working with potential franchisees to find the best investment.

Kiser-Block says that even if you love to eat doughnuts, in operating a doughnut shop ‘you discover you really do have to get up at 1 in the morning and make doughnuts,’ referring to the famous Dunkin’ Donuts television commercial.

‘Be careful about making your hobby your business,’ she warns potential franchisees.

People may opt for franchises because they can ramp up quickly with training and support from the franchiser. But any franchise investment should be thoroughly investigated; information is available in the franchise’s required Uniform Franchise Offering Circular.

Franchisers also will investigate you as a potential franchisee. They’ll see if you qualify on a financial basis as well as examine your background and work experience to see if you’re a good fit. But investor-owners first need to decide whether they have the right personality to own a franchise. Consider your strengths and weaknesses. Keep reading.