For the past several months we’ve been talking with many Myanmar business owners about if they and their business is the right fit for franchising. If you are contemplating during your business into a franchise or starting something that you intend to franchise, then consider these things before you dive in.
1. Are you the Franchising Type?
Most people that are creative and like to start things aren’t necessarily the franchising type. People that like structure and maintain things are. Think about which of these you are and if you want to do franchising. Remember though that even if you aren’t the type to create structure and maintain, you can always hire someone that can.
2. You will have little freedom
One of the great things about a franchise if you were to become a franchisee is that you are taught how to do everything. Everything is scripted. But this also means there is little room to make your own adjustments. You have to follow the rules and requirements of the franchise.
3. Consider Market Differentiation
Look for a franchise that is going to fit your market but also is a bit different from competitors. You want to be able to offer something a little different for the customers to know why they should buy from you and not someone else. Check the market and see how you can pick a franchise that fits but is a bit different from others.
For more things to consider when contemplating a franchise please click the link below.
Source: forbes.com