(PR.co.nz) Buying a franchise can be a great way to get into business; providing the support and security that starting or buying a business can’t offer. There are thousands of different franchises for sale, and there is likely to be many in the field you are interested in, so it’s important to check out and compare all the options thoroughly.
Choosing the right franchise opportunity requires a number of considerations. The key is to research the options well. Successful franchises, like any business, require enthusiasm, energy and hard work – being successful will be easier and quicker if you enjoy and are genuinely interested in what you are doing, and the products or services you provide.
Check out how the franchise will suit your lifestyle; some franchises operate seven days a week and involve long hours, others may require physical or outdoor work, or the need to work with people. Ensure it is a business you will enjoy operating.
Most New Zealand franchises operate under a Franchise Agreement, which is specific set of rules you will need to adhere to. It is important you fully understand and are comfortable with these before signing any Agreement. While most of the skills required in the business should match your own capabilities, you can also expect to learn the franchise system and their way of doing business. Determine exactly what is being offered, what support, marketing and training will be provided, what the costs are, as well as what happens when you wish to sell the franchise or if you were to underperform.
Get to understand the market in which it operates, and if the asking price reasonable. Who are the main competitors? Am I best suited to buy a new or existing franchise? And why should I buy this franchise?
It is also important to look at who you will be dealing with; the franchisor, customers and staff. The success of many businesses is built on strong relationships, so if you are unable or not interested in working with the franchisor, managing staff or talking to customers in a professional manner, then you may wish to look at different options.
With so many different franchise opportunities New Zealand wide available, you will need to check out and investigate the numerous options on websites like www.nzfranchises.co.nz
Before you make your decision carefully review the franchise and the agreement, and have your advisors look over it carefully ensuring it’s fair. Determine how successful this franchise system is and that it will work for you. Make sure you do your homework and satisfy all your concerns before putting your money into a franchise business opportunity.
It pays to take expert advice from an early stage; involve your accountant, lawyer and banker in the process of helping you select the right franchise to buy. In the end, finding the right franchise for sale comes down to you; your budget, interests, values and skills. Visit www.nzfranchises.co.nz for more on New Zealand Franchise Opportunities.
Media Release on 23 November 2013 by NZ Franchises
Phone: + 64 3 337 0005