Many individuals who are new to franchising will look exclusively at their own particular interests when trying to find a franchise system to invest in. There is no right or wrong way to pursue looking at new business opportunities; however, there are strategies and techniques that have proven to be more useful than merely picking something you like.
A critical question that you need to ask yourself when pursuing a franchise opportunity is whether the opportunity matches your financial and time-oriented goals. Financial goals are more straightforward- what kind of net revenue are you expecting from month to month? This is a key question within this area. Time goals are a bit more difficult to explain, but essentially, you want to be able to define how you want to spend your time. Do you want to be making sales call and pursuing leads, or would you rather manage some employees? How active do you want to be in a business? The answers to these kinds of questions help you understand both your investment needs and potential franchise fit. You may love tennis, but operating a tennis store may not be what you are expecting! Inventory management and employee oversight are the most common tasks that a tennis shop owner participates in- not playing tennis.
As you potentially explore the franchise concepts that are out there, take a moment to clearly define what exactly you want to be doing and the money you want to be making. A hobby or interest may not always be the best venture to pursue. Usually, the best businesses are those that solve a real human need and are missing or underutilized in your area. Reach out to me and we can discuss this further! I have helped countless people find franchise concepts that fit and provide a functioning environment that bodes well with individualized work preferences.