Buying an established franchise can be a very smart business move but you have to make sure that you do your homework in order that you buy the right one for you. No point in buying a widget franchise if you are not interested in widgets as you probably won’t have your heart in it. There is a site known as the dollar store franchise that lists a whole lot of franchises for sale so this should keep you quite busy.
Buying a non established franchise, one that is yet to be built, can be quite risky and needs a whole lot of investigation needs to be done before going ahead. Things like,
- Is there enough of a population, market, to make it worthwhile?
- What is the competition like?
- If the site is in a complex then what extenuating rules are there that may reflect on the profitability of the franchise. I know of some shopping complex that insist on a revamp of the outlet every three or so years than needs an outlay of some $60000!
So whatever you decide, make sure you don’t just jump in there without looking at all the things that can affect your purchase.