Should I Buy a New Franchise or a Current Franchise?

We get asked quite a bit whether our members should buy an existing franchise or a new franchise.  The answer is not quite as straight as it appears.

A new franchise usually requires longer hours and a huge focus on building the business.  In a new territory, the franchise us usually unproven and unknown.  This can also be a positive as a new franchise does not have any reputation, except the one you make it.

An exisiting franchise is more turn-key, but might have some relationships with the community and vendors that will be hard to change.  While you do have a customer base and revenue, we suggest looking at the books and getting a lawyer before purchasing an exisiting franchise.

 

Categories: User interface

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