Does the Franchise Concept Make Sense for Your Market Area?

Joel Libava
Fri, 30 Aug 2013 00:00:00 +0000

The franchise tips and advice I dole out tend to be focused on The You.

Like, this one:

“When you’re looking for a franchise, find one that’s right for You.”

In other words, don’t go out and buy a franchise just because “they’re everywhere.”

While it's great to have some in front of you for ideas, you should definitely keep the focus of your search on ones that are a fit for You.

But, there’s something else that you need to do before you write The Check.

You need to make sure that the franchise concept is a fit for your local area.

A Franchise Concept With A Stellar Track Record

The franchise you’re thinking of buying may have an amazing track record. This track record could include things like record franchisee profits, no , or failure rates that are less than 1%.

But, if it’s somehow placed in the wrong area of the country for it to thrive, that terrific track record could go right out the window-along with the entire investment of the franchisee that opened it up.

And, You don’t want to be that franchisee. No way. No how.

One would think that there would be safeguards in place to prevent something like that from happening. After all, it is a franchise-type of business, and all the kinks have been ironed out.

Except for one thing; we don’t live in a perfect world.

Money can get in the way of things. Like common sense. Or, patience.

The franchise concept you choose has to be right for you.

And, the franchise concept has to make sense for your area.