How do you select the "right" franchise?

How do you select the “right” franchise?

Kim Daly Coach's Corner

Many people who are exploring franchise opportunities consider what their community needs or what they are passionate about when they try to select the “right” franchise.

When candidates engage my services, I challenge them on this thinking. A business is not a hobby, thus you do not need to be passionate about the product or service in order to be successful, and when the business gets challenging, and all businesses will at some point, your personal hobby and passion will be lost to the frustration of your business.

Additionally, if you open that business that you think your community needs, but that business does not match your skillsets, lifestyle goals or income expectations, will your community be there to motivate you to get out of bed and be excited to open the doors each day? Maybe, but what if there was a better way to select the “right” business?

What if selecting the “right” business was more about aligning your best business skills to the #1 role the owner will play? What if the business matched your lifestyle goals? Lastly, what if before you fell emotionally in love with a concept, you validated the numbers to ensure the ROI was there?

There’s no “wrong” way to select the “right” business, but there could be a better way. #TheDalyCoach