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While planning to hire a franchise things that one should take into consideration beforehand states the stages of franchise’s success.
Location:
Location being of prime importance. Once you are in a perfect location other things work out smoothly. As a franchisee, you have the leverage of a franchise’s brand name on your side when negotiating with a landlord. And due to today’s tough economy, some franchisors are offering help negotiating your lease.
Market Conditions:
Apart from having an excellent location, the existing market conditions do matter. One cannot locate a business in isolation & has to take into consideration the environment affecting his/her business. Market Research is one tool that can help an individual in ascertaining the prevailing trend in the market
Demand Pattern:
If the franchise you’re considering offers something consumers need no matter what the economy -- such as tax preparation, plumbing, or IT services -- it stands a better chance of success than if what you’re selling is more of a discretionary purchase. Sidelining the market demand and setting up a business is a sure shot sign of its growth getting stunted
Franchisors Deal:
Last but not the least the deal that franchisor offer in the agreement matters. Obviously a smart business man is one who perceives future in light of present happenings and potential.