The road to business ownership can be fun, challenging, exciting, and scary: often all at the same time.
The key is to find a business that will give you what you want such as independence and control, ROI, personal satisfaction, creating or building something, increasing your asset base, or any other goals you wish to fulfill in business ownership.
Discovering your business model is the foundation of the process. Once you discover your business model or what you want the business to do for you, you can constantly refer back to it as you research and compare a variety of opportunities.
Isn’t this what everyone wants to do when making an investment or owning a business?
Finding the right fit is key to achieving this goal because if it’s the right fit, you’re happy and excited about your business venture and the likelihood of you being successful is dramatically increased.
You may need a professional matchmaker, coach, and business advisor to minimize your risk and maximize your return. We are ready to assist you in finding the right franchise or existing business opportunity.
Many people who haven’t owned a business before gravitate to a franchise because of the training, the marketing assistance, the assistance of the franchisor and other franchisees and the BRAND. The concept is typically proven because “X number” of franchisees are using the model every day. It is less risky than starting your own business or buying an existing business. Who will you call if something goes wrong in a start-up or an existing business after the transition period when the seller has moved on to something else?
Often Franchisees will decide to sell their business before the end of the term of the franchise agreement. This could be due to a number of reasons: health, personal circumstances, undercapitalization, and/or inability to follow the system. The price you pay is similar to the Existing Independently Owned Business above, however, there’s also an “intangible” factor. The fact that the business is a franchise brings certain “intangible” value because it’s a system of doing business and it’s proven because of the brand and number of units. It can also bring a higher multiple of cash flow in pricing the business.