STEP 1

Be very clear what is really important to you so you end up doing something you can really put your heart and soul into.  

Know what abilities you have and what abilities you want to develop further.    If you have ever taken a psychometric test, perhaps as part of a recruitment process, review the results.    You could even consider having a new profile prepared that reflects you as you are now.

STEP 2

Make sure you are absolutely clear that as a franchise owner you are performing a very special  role:

Your job is to live and breathe the values of the franchise in a business that you own and are solely responsible for.   

You have to follow a system that is already laid down, and at the same time suggest improvements and enhancements to that system.   

You have to run an independent business that is also a representative of a chain.   

You have to delight your own customers, but you are also a customer of your franchisor.

All of this can only really work well if you, your franchisor and your fellow franchise owners

share  core values.

STEP 3

Identify which kinds of franchise are most likely to enable you to use and develop your abilities to achieve what you want from life.  

Look beyond first impressions - many franchises that appear at first to be a simple ‘Man and Van’ proposition also offer opportunities for people used to managerial roles.   Often you can choose to operate the franchise as the man with the van, or you can effectively take over a larger territory and manage a team of people delivering the core services to your customers.

STEP 4

Identify candidate franchises in these categories that appear to match your core values.  

STEP 5

Do thorough background research on your candidate franchises.   

Talk to other franchise owners.   Talk to customers.   Mystery shop the franchise.   

Google the franchise or the franchisor and see what comes up – blogs, forums, news.

Prepare a set of questions that you can use to evaluate each franchise you look at.  A good franchisor should have the answers and will be impressed by your commitment to finding the right one for you.

STEP 6

Approach your chosen franchisor(s).   Get answers to your questions.

If you don’t get satisfactory answers, or if you find their core values do not match yours, walk away.   If they do, make your choice.  

Read the franchise or license agreement very carefully before you sign it.    Get it checked by an independent lawyer with experience in franchising.    Above all, do not sign any agreement until you are absolutely comfortable to do so.  

STEP 7

Start your new life as a business and franchise owner...