Sarasota, FL (PressExposure) February 07, 2009 -- At a recent interview with Rick Bisio, the Educated Franchisee, we discussed what Rick calls the Franchise Ambush. According to Rick, it is important for the entrepreneur to see what is out there and investigate franchises that are a good fit. Rick said, âMaking good decisions now can save you a lot of time and grief; be sure to find the right franchise for you.â
Rick gave an example by discussing a woman who is looking to buy a franchise: âEverywhere she looks, people are working for themselves. As she pictures herself in different businesses, she thinks about her interests. She realizes how much she loves clothes and shoes as she is constantly organizing hers. She even read an article that said closet organizers are hot; no one in town sells closet organizers. She will begin her search by considering closet franchisesâ
Rick made it sound like the woman was making a great choice by thinking about what she likes most when she decides the type of franchise to go into. However, as he went on to explain, she is headed for a franchise ambush! Rick explained, âBy beginning the process this way, she has made a critical mistake. Just because she likes clothes, shoes and organizing does not mean that she will be an effective owner of a cabinet design, manufacturing and installation business. She has a passion or hobby for organizing clothes and shoes; however, she many not be good at woodworking, managing a staff or managing a marketing program for selling the product. Pursuing your hobby into business frequently results in the loss of the hobby and a most challenging business.â
Rick told a very different story from what was expected. Everyone thought the woman was going to be quite successful in the clothing, shoes and closet business until he explained how it could be very wrong for her. Of course, the next question asked was âhow does one avoid the franchise ambush?â
Rick explained, âThe best method is to zoom in on the type of franchises that are right for you by considering your skills and abilities, and what you desire from a business. The woman I was discussing earlier has been in the restaurant management business for 20 years, developing strong skills in hiring, firing, managing high-turnover employees, making customers happy, inventory management, scheduling, purchasing and planning. These are the skills that she should be concentrating on when looking for a franchise to purchase.â
Rick really made things clear! There is a big difference between the closet organizer business and the restaurant business. Rick concluded, âThere are many other things to consider; maybe she wants weekends and evenings off and time to take vacations with her family. In this case, the restaurant business may not be the right choice either. Before looking at a franchise business, you need to identify both your skills and your desires. Prioritize your skills and lifestyle desires to give yourself the maximum potential for success.
Rick Bisio is one of the most respected franchise consultants in the United States. He has guided thousands of people to great decisions regarding business ownership and franchising. Rick is the author of the book entitled The Educated Franchisee. Visit http://www.educatedfranchisee.com to learn more.