Check out this article about some of the key personal charateristics that are ingredients for franchise success.
I would add another key personal characteristic is the ability to “delay gratification” because most franchise businesses are not profitable until their second year of operation. So get ready to be to defer taking long vacations or other big discretionary purchases. Consequently you should also make sure you have more than adequate working capitol to sustain operations while you are building the “critical mass” to reach profitability. As a business broker i cant tell you how many times I get calls from new franchise business owners who want to sell their new business because they have run out of working capital to keep the doors open.
You can view an A to Z list of legit franchise opportunities here
Saturday, February 28, 2009
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Once, you have decided that opening up your own franchise is a wise decision, you will need to decide what type of franchise you wish to open. There are many different profitable franchise opportunities available for expansion. Whilst some companies are starting out with franchising their already successful business, others have been on the franchise market for many years and have established themselves as a successful model.
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