We all love the feeling of a weight being lifted off our shoulders. It usually comes with a sense of relief or accomplishment. Sometimes, we hit a wall. We get fear. Many times that fear is the fear of the unknown—of uncertainty. Franchisees and entrepreneurs experience this like anyone else. Often, that fear of uncertainty means we choose unhappiness instead.
The second big step in franchise investigation is receiving and reviewing the franchise disclosure document (FDD). Before you think about owning a particular franchise, you need to review this document. After the introductory call, the franchisor will offer to send you a copy. This document is essential to your investigation process.
The first thing you need to keep in mind in your investigation is that it is a process of mutual elimination for both you and the franchisor. It’s like dating. You might find exactly the franchise you’re looking for on the first try, but that is highly unlikely unless you are using a consultant like us to narrow the search for you.
People are often surprised to find franchising is a diverse industry. There are a ton of options out there for aspiring franchisees. We encounter franchises all the time, but we often think of them as them roadside businesses sprinkled across the nation.
There are plenty of ways to find your path to franchise investment. You might drill down by way of Google until you find something that speaks to you. You might march yourself straight to the sales department of a business you like. You might be introduced or shepherded by a friend or family member who’s already involved. Or you might work with a franchise consultant.
The idea’s been percolating—the one about leaving the corporate rat race, investing in your own future, taking control of your professional destiny and steering a new path. You don’t want to keep clinging to the corporate ladder because it’s unfulfilling, insecure, and maybe even sucking the life out of you. You don’t want to go the start-up route because it’s complicated and far too risky.
Considering throwing over your corporate career, investing a chunk of your life’s savings, and diving into a business that’s new to you and your family?
Ford Motor Company founder Henry Ford once said, “The whole secret of a successful life is to find out what is one’s destiny to do, and then do it.” Ford’s own destiny was one that would have a profound impact for generations to come. He brought cars to businesses and families, and in doing so made the world a little more accessible for everyone.