7.) Focus on the Brand. Has Anyone Heard of It?
The business model is important, but there’s another big advantage to buying a franchise. “Most of what you are doing when purchasing a franchise is buying an established brand instead of starting from scratch,” says Lauren Lampe, director of marketing for JDog Junk Removal and Hauling*, which only sells franchises to military, veterans and their families. “Find a business where you can utilize the experience you’ve gained in the military and a place that’s going to appreciate that type of skill set.”
8.) Research The Market Before Buying A Franchise
Find out what kind of competition you’ll face in the region where you plan to operate. “Assess your market to determine if it is good for the area you desire to set up in,” says Nathan Press. That’s an important step when choosing which franchise is best for you. Read the 7 Steps To Selecting Your Franchise for more tips on what you need to consider before you buy a franchise.
9.) Learn on Other Franchise Owners
Reach out to fellow franchise owners for advice and guidance. “If you have a situation you aren’t sure how to deal with, reach out to the others,” says Jason Meadows, a JDog Junk Removal* owner. “There is a very high chance that someone else has already faced the same issue and is more than willing to help.”
*Company is a paid client.
Be sure to register for our FREE Virtual Franchise Conference on March 23rd at GIJobs.com/franchise-conference-veteran-service-brands. Seats are limited and filling up fast, so register today to guarantee your spot!
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