This lesson is part of our free Franchise 101 course.
If you wanted a car, you wouldn’t just walk onto the lot and buy the first one you saw. You would think about comfort, style, budget, efficiency, and all the other things that go into making a great vehicle.
It’s the same with franchises. The biggest mistake you can make is buying straight into the first one you see. There are hundreds of options out there, and you don’t want to limit yourself.
Having a Vision for Your Franchise
If you have a vivid imagination, then you may already be picturing yourself happily working in a specific franchise. That vision is fantastic. It will give you the passion to pursue your dream. But if you’re not careful, it can limit your options without you even realizing.
There are hundreds of franchises out there, and Franchise Chatter can show you them. But just like going to a dealer with a specific car in mind would mean missing other options, a fixed vision of your franchise can blind you to something better.
Narrowing Your Vision
Having a single franchise in mind shapes your judgement in three ways:
- Confirmation Bias – Your idealized view of that franchise means that you only notice the good things about it and not the bad ones, like ignoring the rust holes and hefty mileage on a classic car.
- Limiting Your Options – By only thinking about a certain type of franchise, you miss out on other options, as if you’d gone to the dealer determined to drive away in something red, when there was a better white car at a lower price.
- Missing Out on Comparison Shopping – To get the best car for you, you want to shop around, and it’s the same with franchises. One you’ve never heard of might have a deal that’s perfect for you.
You could end up driving off the lot with the first car you see, but you shouldn’t do that because it’s the first car. It’s the same with franchises – Franchise Chatter provides information on hundreds of them, so why not comparison shop?
Bringing Enthusiasm to Your Research Journey
Looking for a franchise starts with research, in which you explore what you want and which franchises fit you best. It’s like looking at the different cars a dealer has, a way to make sure that your time and money are spent in the best possible way.
It’s fantastic to approach that research with enthusiasm and commitment, driven by your passion for one franchise. But make sure that passion doesn’t limit you. There could be other franchises you would be just as excited by, if you keep your options open and let Franchise Chatter show you them.
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