“Which is the BEST franchise to buy?” is a question that I am frequently asked in the hope that I come up with the solution. This is a very difficult questions to answer as everyone differs and have varying reasons why they want to buy a franchise.
You need to ask yourself the following questions:
• What is my passion?
• What are my interests?
• What are my skills?
• What type of personality do I have e.g. outgoing, attention to detail etc.?
• Do I have the necessary funds to buy the franchise?
• Do I have the necessary collateral to borrow funds if needed?
• Am I comfortable with the Franchisor?
• Will owning a specific franchise help me to achieve my goals and objectives?
By answering the questions above, should provide you with a clear indication of the best fit for you. The BEST franchise to buy is not necessary the franchise that you think will make the most money. Making money is most definitely a strong motivator but research has shown that by meeting the points above, profitability almost follows automatically.