So often I speak with people that have buyer’s remorse after buying a franchise. And most of the time, their big mistake was that they did not do enough research before they purchased. People have a tendency to rush into things. I do it all of the time. It takes a certain amount of patience and discipline to not do this. Patience and disciplined research is imperative in the franchise world.
There are nearly 800,000 franchises operating in the United States. Franchises have been around for many years, and will be around for many more. There is no need to rush into an opportunity. If it is a good opportunity, it will be around in a month. And if you are rushing because the franchisor is pressing, get away from that system. A good franchisor will take time to make sure that you are a good fit, just as you must take time to make sure that the franchise is a good fit for you.
As you go through the process of deciding on a franchise, pay some attention to hard data. But pay most attention to your gut feeling. As in most instances, your intuition will not misguide you.
And if you are unsure, seek professional assistance. No matter the size of the investment or your past experience in franchising, it is important to have trusted advisors. They see something that you missed. Or may have a different but equally valuable perspective that could benefit you. Don’t make the mistake of doing everything on your own.
Lastly, if you have that “fish out of water” feeling, the franchise is not right for you. Stop convincing yourself otherwise. You will regret it.
