Are you are considering buying or starting a Professional Services Franchise?
Brian Tracy has outlined the specific reasons for business success and failure. So how do these reasons translate into buying a Professional Services Franchise? The greater clarity you have regarding these reasons in your own franchise options; the better decision you will be able to make.
You may have heard that, “What you don’t know can’t hurt you.”
However, when buying a Professional Services Franchise, the opposite is true!
Before you choose your professional Services Franchise, place a great deal of importance on these 10 areas.
Brian Tracy outlines these for us in his book The Way to Wealth Part 3
- Be clear, why the service is well suited for the current market.
- Complete a business plan before you start operations.
- Complete a market analysis of the professional service and its most attractive features.
- Does the Franchisor have a system to help you with bookkeeping, accounting and complete financial control?
- Does the Franchisor have a high degree of competence, capability and integrity with their current franchisees people?
- Does the Franchisor provide tools to help you stay well organized, manage your time well, and have measurements of performance for each key activity?
- Is the Fanchisor determined and persistent in helping you succeed and profit?
- Does the Franchisor communicate clearly and effectively with the people working within the franchise organization?
- Does the Franchisor help you to create a strong momentum in sales and a continual emphasis on marketing?
- How does the Franchisor help you in acquiring, satisfying and keeping customers. Do they provide training and support to ensure continual customer acquisition for you?
The more clarity you have on these 10 areas when selecting a Professional Services Franchise, the greater success you will have in choosing the right franchisee to partner with.