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We’re nearing the end of the year and it’s at this time that many people start thinking ahead on what’s to come. New family arrangements, new businesses, and new hobbies are just some of the things people resolve to do in the New Year. What does 2019 have in store for you?
If you have a goal of buying a franchise, here are five things you can do today to make that goal a reality.
1. Build Strategic Relationships
Whether you know which industry you want to enter into in 2019 or not, it’s important you start forming relationships with others in your community now. These people can help guide you on your path to franchise ownership and shed light on which franchise is the best fit for you.
Not sure where to start? How about a networking event. Attending Chamber of Commerce breakfasts or luncheons with a local rotary club, can help you get to know the people in your community and start the conversation about what’s needed in your area.
2. Set Your Budget
Buying a franchise is not an inexpensive endeavor. It requires a healthy budget for the initial investment fee, working capital, advertising, and more. Deciding on your budget will help you narrow your choices about which franchise is best for you.
3. Get a Better Understanding of the Permit Process
Owning a franchise is very similar to owning your own brand. You may still need special licenses and permits to operate. These licenses and permits can cost money and time when setting up your franchise. As you gear up for owning a franchise in 2019, understanding what permits you need and the process that goes along with getting them is important as you plan out your budget and timeline.
4. Consider Your Recruitment Plan
Unless you plan to operate a one-person shop, recruiting help will be an essential part of getting your franchise off the ground. Staffing your franchise is a difficult task. It’s much more arduous than simply posting a listing and knowing the right quality of candidates will flood your inbox.
Consider your recruitment plan now. Where will you look? How many people will you hire? What kind of employees will they be? Will you have any contractors? Knowing this ahead of time will make it easier and faster for you to bring the right people on board from the get go.
5. Choose a Cause
Successful franchises don’t just sell commodities; the business makes a difference in the community. No matter how rural your town may be, there are organizations that need your help. Choosing a cause upfront will help your franchise show an investment in the area you serve and generate positive recognition from the onset.
Let 2019 Be Your Year
The New Year is full of new possibilities. Consider these five things now to plan for your next step in 2019 and start the year off with a bang.
Susan Guillory is the President of Egg Marketing & Communications, a marketing firm specializing in content writing and social media management. She’s written three business books, including How to Get More Customers With Press Releases, and frequently blogs about small business and marketing on sites including Forbes, AllBusiness, The Marketing Eggspert Blog, and Tweak Your Biz. Follow her on Twitter @eggmarketing.