Understanding why you want to become an entrepreneur is a key part of choosing the right business for you and your future.
Many franchisees are attracted by the idea of being their own boss, running their own business and taking responsibility for all the big decisions. Of course, the first big decision is probably the most difficult: "what type of franchise is right for me?
Of course, you can go with your gut when it comes to choosing the right franchise for you, but at Franchise Direct South Africa we are here to help you with a more calculated approach.
To make this process easier, we have broken it down into the five "W's".
Who?
The first question to ask yourself is "who am I and what professional experience do I have? Answering this question will help a potential franchisee narrow down their decision; whether you want to choose a franchise that is linked to your previous or existing professional background, or whether you want to select a franchise that does not require previous experience.
Identifying what is important to you at the beginning of the process is key. It will help you choose a franchise system that fits your individual value system. For example, if you are passionate about social issues and climate change, perhaps a green franchise might fit your profile, or if your passion is fitness, then a gym franchise might be the right opportunity for you.
At what point in time?
There was a moment when you decided that this was your career path. Something clicked, you wanted to be your own boss and take charge of your future. What was the source of that spark of inspiration? Finding out what your motivation is will be especially important on the tough days when you need to push yourself harder and go the extra mile. Remember that the fate of your franchise is in your hands and will depend solely on you, your effort, and your ability to run the business.
Where?
Making the decision to become your own boss and work for yourself as a franchisee is a great step for people who would like to work from home. The ability to work from wherever you want can be liberating and the freedom it facilitates can allow you to have the work-life balance you are looking for.
When?
You may not think now is the right time, but if not now, then when - remember, when you buy a business, it takes time to get it up and running. So, if you make an enquiry today, it could be approximately nine months before your business is up and running.
If you're waiting for the perfect time, it probably doesn't exist. So maybe you should stop waiting and seize the opportunity.
Why?
Why did you decide on franchising as your preferred option for becoming your own boss?
Is it because you didn't want to go it alone, and would you like to be part of a network of like-minded entrepreneurs with years of experience to help you? Maybe you wanted to get a head start in your entrepreneurial life, leveraging an established and widely recognised brand?
Whatever your reason for making this decision, it is essential that you find a brand that fits your needs and makes it easy for you to access it.
Our Franchise Directory A-Z can guide you to find your franchise because it has an option to suit most people, so why not check it out now?