Final Words 

Purchasing a franchise is a time-consuming, difficult, and sometimes costly affair. You should never undertake it lightly, and always provide due consideration to the details. However, franchises also have a high success rate, a great pyramid of support, and much to recommend them. The following list summarizes much of this book. If you are considering a franchise, make sure keep it at your side throughout the process. 

Preliminaries 

·  I am financially capable of acquiring a franchise at this time 

·  I have the skills and qualities necessary to run my own business 

·  I like independence and am willing to take a risk 

·  I am willing to work within another’s framework and business plan 

Pre-Purchase 

·  I have considered my interests, goals, and abilities in deciding what category of franchise to focus on 

·  I have examined many different franchises and narrowed my choices to my favorite few 

·  I have carefully read the franchise prospects and am familiar with their contents 

·  I understand the potential earnings and costs involved 

Purchase 

·  I have spoken with other franchisees and acquired information 

·   I have spoken with the franchisor, who has given me thorough, honest, and open explanations in response to my questions 

·  I have seen the franchise agreement, which is ethical and legal 

·  I understand all terms in the franchise agreement 

·  I have consulted a solicitor specializing in franchise law 

·  I am satisfied with the level of support and training the franchisor will provide 

·  I understand all costs and fees associated with the franchise, including incidental expenses not included in the franchise agreement 

·  I have a careful and meticulous business plan 

·  I have consulted a bank and raised the necessary finances to support myself and make this purchase 

Post-Purchase 

·  I am familiar with the contents of the operations manual 

·  I have considered a marketing strategy for the franchise 

·  I understand how the franchise works and who I can contact with questions 

·  I am prepared to put in the necessary work to make my franchise succeed 

·  I understand the strategies that will bring me success  

If you have done all of these things, you are well on your way to running a successful franchise. The journey may be difficult, and there may be roadblocks ahead. However, your knowledge, determination, and attitude will see you through. Maintain your optimism, don’t be afraid to turn to others for help, and monitor your success carefully. With these things in mind, your success is almost guaranteed!