As most of you now know, BlueGrace Franchise is on the rise! We are consistently adding new locations on the map and the excitement level is high, but it’s not easy and understandably so. Deciding to open a franchise is not a straightforward decision. Here are some tips to follow when considering opening a franchise:
1. Research the industry you are planning on investing in.
This is one of the most critical steps in the decision making process. It’s not easy to just say “I know… I’ll open a McDonalds or Starbucks today…”, because you might find that it just wouldn’t work for you or your personality type. There are thousands of opportunities out there and it’s important to be open to the limitless opportunities.
Most franchises require a start-up fee, some working capital, etc. For example, BlueGrace Franchise has a $47,500 start up fee which is on the low end compared to most franchise opportunities. But in addition, there needs to be working capital to make sure you can operate and be successful. Take some time to evaluate your personal finances before consulting with a franchise opportunity you are interested in.
3. Evaluate your priorities.
Make sure you’re ready for this! A decision may require you to consult with a family member, business partner or close friend. It’s important to understand that in order to enjoy the freedoms of a business owner, you need to start somewhere. When you first get started, you’ll need to dedicate time to get things rolling, but the work will pay off.
4. Assess your resources.
Most people don’t need to completely start from scratch. You may have talent, contacts, resources and equipment ready for you to use. You know how they say “hiring from within is less expensive than getting someone new”, well that’s true in more ways than one. Use your resources to help you get started!
5. Make sure the franchise of your choice is reputable and has a team that is there to support you.
Just because a company has a disclosure document (or FDD), doesn’t mean they’re reputable. Again, BlueGrace Franchise as the example here, has in-house counsel (click to meet Robert Beckmann) with franchise development and support teams to answer any and all of your questions. Make sure you visit the corporate location/office, meet and develop relationships with the people involved with handling your investment.
Hope you found these tips helpful. In lieu of finding a new investment opportunity, you should consider BlueGrace Logistics. They’ll bring you down for Discovery Day and introduce you to the team so you can learn more about the company.
For more information on BlueGrace Franchise, email to our franchise development team or call 800.MY.SHIPPING and ask for the Franchise Development Team!