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Posted on Tue, 11/29/2011 - 01:40 AM by
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I’ve provided 40 questions for you to ask current and former franchisees that are second to none in my franchise book.
Let’s focus on one that’s really, really, important;
Were you able to open your franchise business in a reasonable amount of time?
1. Were you going to ask that question?
2. Do you think that it’s an important one to ask? _______________________________________________________________________________________
If you weren’t going to ask that question, I hope that you will now. Here’s why;
You need to plan ahead.
Let’s say that it took you 75 days to find and research the franchise you just purchased. Let’s also say that it’s a business that requires a leased commercial space. (Which you’ll have to locate-with help from the franchisor, of course.)
In addition to your location-hunting duties, you’ll probably be finalizing your small business loan, and working on your business entity. You’re going to be doing some serious multi-tasking. (But you’re up for it, because you read my book, which goes into this in detail.)
All in all, it may end up taking you 3-4 months until you’re actually in business. Stop. I want to be clear; I’m talking about 75 days plus 3-4 more months. That means that if you started your search for that perfect franchise in January, you may not be up and running until June. Or, July.
It can take quite a while (sometimes) to find a prime location that’s, A. affordable and B. perfect.
Or, it could happen a lot faster than that.
There’s really only one way to find out, though.
Right?
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My editor at Wiley Publishing came up with the number