This lesson is part of our free Franchise 101 course.
When you’re trying to pick a franchise, it’s not enough to just stumble upon one that you find appealing and then do some superficial research. To get the best results, you must take the time to go through the process in a methodical fashion.
What Does Being Methodical Mean?
Being methodical means developing a system for researching and analyzing the franchises you are considering, then sticking to that system.
It means having a step by step approach, where you know each stage of your research, what you need to put in and what you expect to get out. Following those steps is what keeps your system working.
It means sweating the details, taking the time to dig out the information that is important, even if it isn’t easily available.
How Does Being Methodical Help?
Why is this important?
Firstly, because it helps you to gather accurate information. If you’ve got a system that involves checking your sources and gathering intelligence from reputable places, then you’ll be less likely to accept exaggerated reports on the performance of a franchise.
Second, it means that your findings on different franchises will be comparable with each other. If you’re going to judge the relative merits of different options, then you need similar information on each of them. What are the costs? What are the likely revenues? What sort of customer base is needed?
Thirdly, being methodical is a way to make sure you don’t miss important details. If you’ve got a list you’re working through, then you won’t forget to look into the critical details that could make the difference between success and failure.
How Can Franchise Chatter Help You Be Methodical?
Franchise Chatter can help you to be more methodical in assessing franchises. Critical details for every listed franchise are provided in an accessible way so that you can find the most important information. Because we cover similar details on every franchise, it’s easy to compare them, and so to assess which is the right franchise for you.
You don’t need Franchise Chatter to be methodical in your research, but you do need to be methodical, and we’re here to help.