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Things to Consider When Buying a Franchise

There are so many franchising opportunities, and, much like dog breeds, each comes with pros and cons. How do you know which one is going to fit best with you? Remember, you’re looking for a long-term partner here:

Does this franchise offer you the lifestyle you want?

If you hate a corporate job, you’re still going to hate it when you own a company. One of the biggest draws to Pet Wants is that you don’t have to buy your own brick & mortar store, but you have the flexibility to do that if you desire. Do you like the idea of going to where the customers are? Maybe selling directly to them at the Dog Park? Or do you like to have your own place of business with everything their pets could ever want and let them come in and browse at their leisure?

Does this franchise allow you to focus on your passion?

Make no mistake: running your own business can make you dog tired. With all the energy that is required, you need to make sure your passion is able to refuel you. If you don’t like animals, it won’t matter how great of a market the Pet Nutrition industry is, or how outstanding our model is. The type of work you are passionate about should be a huge factor in picking a franchise concept.

Does this franchise give you the support you need?

But does the support also allow you the flexibility you desire? There are several franchises, all with a different amount of support. Some may give you only give you their branding. Others feel like they have so many rules and regulations that they want you to run your business with your hands tied down by their directives. When evaluating franchises, make sure you pick one with the amount of support that works best for you. To see what Pet Wants offers, click here.

What is your exit strategy, and does this franchise opportunity fit it?

Are you planning to retire after the first ten years? Pass it on to your children? Don’t forget that if you buy an expensive concept, you’ll have to find another buyer to sell it to one day (and that person will have to want to be in your territory)! Exit strategies are often overlooked when starting your business, but they should actually be well thought out before you ever buy.

If you want more information on Pet Wants, contact us today!