Personal fulfillment is a major consideration, he says. The product or service being offered doesn't need to be a lifetime passion, but the entrepreneur should believe in it and develop a passion for it.
Employee satisfaction is another invaluable element to take into account. Without loyal employees, it will be difficult to create loyal customers.
The lifestyle that will come with franchise ownership must also be a match, Brooks says, since it will require a significant amount of time and work.
The income potential of the business and the industry in which it's operating should also be looked at closely, as should the mission and model of the potential franchisor.
Finally, Brooks writes, the ability of the concept to evolve and adapt to changes in the marketplace should be thought of well in advance.
Additional ideas for choosing a franchise were recently presented by StartupNation. The website advised keeping an open mind, reading the Franchise Disclosure Document carefully and talking with existing franchisees to get feedback on their experience.
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