Are you ready to take the leap into business ownership with a Franchise opportunity?
Knowing you are ready is the first step and the second step is figuring out the best possible Franchise opportunity to compliment your talents. When making your decision consider your strengths, your business experience and what it is that you are REALLY good at. These three components are the magic formula for finding the business that is perfect for you.
Top five areas to consider to guide you in the right direction:
1. Choosing the Right Industry
The industry that you want to work in may not be the same industry that you are currently working in – and that’s ok. What is important is to consider your skills and if your skills will transfer between industries, for example, are you good at organizing, inventory management, tech-savvy, customer service, time management etc. Make a list of all the skills you love and are good at and make sure they are the same skills required for the new business.
2. Size of Business
Some Franchise opportunities require a large staff to run the operation and others will only require a few people. Think about the size and scope of business that interests you and how many employees you will want to manage. This will greatly narrow your choice of business.
As a Franchise owner, you will have to be in a location that is beneficial to the success of the business. It is wise to think ahead of time how far you are willing to commute and how to successfully reach your target customers. Do you prefer a busy location or a quiet one? Narrowing down your location will help to steer you toward the perfect Franchise opportunity for you.
4. Does Industry Experience Matter?
As mentioned in the first point – it may not matter if the skills are transferable. If you are thinking of jumping into an industry where you have absolutely zero work experience it’s a good idea to talk to an owner or manager in that field to get some inside information. You do not need the experience to be successful necessarily, however, it can’t hurt to take a closer look to make sure you haven’t underestimated a big piece of the puzzle.
Finally, and perhaps most important, to be successful at anything you have to be passionate about it! The more in love you are with the business operations, grown potential and the joy your product or service provides – the more successful you will be. Your day to day will become something that you look forward to and are excited about. This passion will serve you well in times of challenge and struggle – which is part of being a business owner.
Ready to reach for your dreams and own a Franchise? Contact our team at Franchise 360 – www.franchise360.ca – and we will guide you through every step of the process. We have Franchise opportunities available immediately in GTA locations and are ready to help you begin your entrepreneurial journey. We look forward to connecting soon – www.franchise360.ca.