Starting your own business should never be an overnight choice, nor should it be something that you take lightly. Before you even write up that business plan, you need to be sure that you are ready to take on the commitment to hard work that starting out often takes. This is true of any business, but also true of getting yourself started in a franchise as well- this is not a get rich quick scheme and as anyone will tell you, if something sounds to good to be true, it is. Save, for when that too good to be true, begins with a vision, and carries over into ambition and drive, and then, you've got a winning combination.

The Number One Mistake: Not Enough Information
The biggest mistake a new franchise owner can make is not making sure they have read everything about the franchise they mean to sign on with. This means everything from the word on the street, to the contracts and obligations that you will have in the business itself. Also, many also turn away from a potentially great opportunity just because they've read something on the internet- or, worse, they sign on based on a few good words. Making sure that you are reading the actual facts and figures and reaching out to companies affiliated with these franchises is important. The internet can be misleading, yes, but also, a treasure trove of information- that is, if you're looking at actual fact and not the opinions of some who may wish to derail others.

Number Two: Location, Location
Not paying careful attention to your demographic. You've found a franchise you feel good about, and you think that intuition is enough to plan out where you'll do business. For those who aren't assigned a location, this can be another falling down point- you have to also carefully research not only the demographic, but the current business trends in that area. Making sure that the location you choose not only supplies you with a steady stream of customers, but also has adequate parking and is in an area where people feel good about is key- unless you're a mobile franchise. Even then, not making sure that you are in an area where the businesses and potential customers you visit feel comfortable with you doing so, is a misstep you just don't want to make.

Number Three: Customer Service
Initially, you may be going it solo, or you may find yourself in a position to hire on employees. Another common mistake made by new franchise owners is not anticipating the need- if the growth explodes out from under you and you don't have enough hands to cover it, you may find yourself with some very disgruntled employees. Or, worse, you may find yourself unable to keep up with the demand and falling short- either way, service with a smile begins to slip, and in any industry, any franchise, customer service is always a priority.

Starting a business and being your own boss is an exciting venture, but it should not be taken lightly. Proper support for your business is very important. Check out an example of a real franchise and how they run by visiting FiltaFry or Learn about Filta.

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Author: Brad Swanson