Following our previous blog on how to assess a franchise opportunity, we now move to another important question: should you buy a franchise at all? As an investor you will need to put in a lot more hard work owning a franchise than would be required by any other asset, but the returns could also be excellent. If you are considering buying a franchise, answer the questions below and decide whether this is a good investment for you.
Are you a hands-on person?
Unlike a policy that you can essentially buy and forget about, or a property that requires occasional maintenance and monthly rent collection that can be handled by an agent, a franchise is a business that needs to be managed. If you enjoy managing people and processes, and aren’t afraid of hard work you may be well suited to owning a franchise. Continue reading “Will You Make a Good Franchise Owner?”
Franchises have become a popular choice for investors who have a reasonably large sum of money on hand, and would like to take a hands-on role in wealth creation. Buying a franchise has several advantages: you are investing in an established brand that customers may be familiar with, and you are given access to a supply chain that covers all the basic materials you will need to run your business.