It can be overwhelming, once you have decided to buy a franchise, to choose the one in which you want to invest. There are so many options today in many different industries that it can be hard to sort them all out.
You might start by choosing the industry in which you would like to work, be it restaurants, automotive, home services, computers, children’s services, sports or travel, just to list a few examples. Think about your experience, your skills and what you enjoy doing. If you find something that combines these, then you are on the right track.
Then you will want to consider the financial commitments so that you can align your own financial situation with the right franchise investment. Upfront fees vary greatly as do ongoing operating costs and fees and royalties, among other factors. Be sure you understand all cash outlay and ongoing expenses before you decide. Ask a financial professional for advice.
If you have narrowed your list a bit, you want to consider how each franchise will impact your family. Will your family be involved or will you have professional management? What are your long-term financial goals for your family? Does the franchise offer the opportunity to meet those goals? What about the time commitments and the location?
For those franchises that you are still interested in, visit some current franchisees to learn about their experiences. Ask about franchisees who have left the business and why. Look at the day-to-day operations and the clientele. Meet Corporate staff and support personnel. You will be interacting with them often so learn what they do and how they do it.
Finally, you want to review all franchise documents, especially all legal documents. You must understand what you are committing to before you sign anything. Have a lawyer review these documents with you. Understand how the franchisee and the company make money.
Ready to choose a franchise business today? Be sure to do your homework to find the right franchise for you!
If you are ready to invest in a franchise business, contact us today and we’ll show you that franchising with us can be the right decision!
About Pigtails & Crewcuts
Founded in 2004 in Atlanta, Georgia, Pigtails & Crewcuts is a children’s hair salon franchise dedicated to making haircuts fun and stress-free for children and their parents. With nearly 50 locations across the nation, Pigtails & Crewcuts specializes in quality haircuts for boys and girls of all ages, and also hosts children’s parties. In 2010, Parents.com named Pigtails & Crewcuts one of the Top 10 Chains for Kids’ Birthday Parties. In addition, Pigtails & Crewcuts has been named to the “Franchise 500” list as a top franchise by Entrepreneur Magazine for five consecutive years. To learn more, go to pigtailsandcrewcutsfranchise.com
Michelle Holliman, Vice President of Franchise Development, 877.752.6800, MHolliman@pigtailsandcrewcuts.com