Before you go ahead and invest in a franchise, you want to sit down and be honest with yourself. You need to think about how much money you have to invest. Just as importantly, you should assess your personal skills and abilities. Finally, you need to determine what your goals and expectations are in owning your own franchise. Our top VR Franchise Specialist has formulated the following questions to help you find those answers.

In particular, you want answers for the following:

Finances

• How much money do you have to invest?
• How much money can you afford to lose?
• Are you purchasing the franchise alone or with partners?
• Do you need financing? Where will you obtain it?
• What’s your credit rating?
• Do you have any savings or additional income to live on while you start your business?

Abilities and Skills

• Does the franchise require technical experience or special training – ie. Auto repair, home and office decorating, tax preparation?
• What are your special and specific skills that you possess?
• What experience do you have as a business owner or manager?

Franchise Goals

• What is your personal minimum income requirement?
• What types of businesses are you interested in pursuing?
• How many hours do you want to work?
• Do you intend to operate the business yourself or hire a manager?
• Will franchise ownership be your primary source of income or a supplement to your current income?
• How many years can you commit to a business?
• Would you like to own several outlets?

VR Business Brokers of McKinney represents a wide range of franchise opportunities from a variety of industries.  To see a list of all the franchise opportunities we represent, visit our Franchise Showcase  (https://www.vrbusinessbrokers.com/franchiseShowcase/?OfficeID=4206).

If you would like to receive an invitation to our next “Buying  a Franchise Seminar” simply email info@vrmckinney.com with “Seminar” in the subject line and we’ll make sure to invite you.