5 MISTAKES TO AVOID WHEN

BUYING A FRANCHISE 

No need to research, my friend told me it's a good business

 

Getting recommendations from a friend is great, but make sure you do your own research. Go to one of their stores and talk to the franchisees. Research about the owners and review all the documents they give you before committing to the franchise. 

01

They promised I will get my money back in 6 months

 

Great franchises base their financial projections on their existing stores. While this is a good base, it is still, in essence, a prediction. A franchise is your own business, so no one can guarantee your profits because it all depends on how much effort you put in, the location you have, and the support you get from the franchisor. 

02

It's so easy to run, there's no need for a franchise operations manual

 

Franchising is about using the Franchisor’s brand name and system. For it to work, you need to be able to learn the system well. Make sure you ask the franchisor for a properly documented operations manual as this will be your guide as your run your own franchise business. 

03

They agreed to give me extra support even if it's not in the franchise agreement 

 

Anything you agree on should be in the franchise agreement. Read this agreement carefully and if someone promises you something that is not in the agreement, clarify with them and make sure it is written down before signing anything. 

04

I invested my kid's college fund to buy a franchise

A college fund or your personal emergency fund should be left as that, a back-up fund in case you need it. Although franchising has a 90% success rate, there are still risks involved and you should just invest money that you are personally comfortable with.

05

Recommended
Franchise Opportunities
s
Island Tea Logo
Paper Stone Franchise Philippines
Khaleb Franchise Logo
Macho Mucho Franchise Logo
The Generics Pharmacy Franchise
Citrus Zone Franchise Logo
Johann Coffee and Beverages Franchis
Mr. Softy Ice Cream Franchise
Bente Silog Franchise Logo
White Aura Franchise Logo
Farron Cafe Franchise Logo
Jacks Sausage Wagon Franchise Logo
Kerrimo Franchise Logo
Lugaw Queen Franchise Logo
Please reload

Questions? Contact us:

Clicking SEND means you agree to our Terms and Conditions and you have read our Privacy Policy.

U-Franchise Sales & Management

Contact numbers:

(+632) 8634.05.86 or (+632) 8634.37.17

(+63920) 983.02.47 or (+63917) 881.69.99

franchising@ufranchiseasia.com

  • U-Franchise Facebook
  • U-Franchise Instagram
  • Francorp Twitter
Partners:
Astreem Franchise Consulting International
Philippine Franchise List, Business Ideas, Small business ideas, Franchise Opportunities, Franchising Philippines, Franchise business, Franchise Philippines, Franchise opportunities
How to Franchise, Franchise Consulting, Grow your business, Jollibee Franchise, Francorp, Small business ideas, franchise business, Franchise Philippines, Franchise opportunities