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Assessing a franchise opportunity requires clarity on the alignment of your business and personal aspirations and preferences. Further, proper evaluation is critical, as there is more to a franchise opportunity than upfront costs and previous successes. Look into the franchisor’s history, and ask the right questions You should ensure that the franchisor has proven systems in place, such as marketing, payroll, training, and mentoring, to provide the best chance for success. Another consideration is, are you the first franchisee? How many franchised locations are there, and how long has the franchisor been in business? How does the franchisor treat its franchisees? Can you acquire an exclusive territory? If that’s not possible, does that hinder your chances of success? Feel free [read more…]

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