Tip #2: Location, Location, Location!
When it comes to starting a business, location is everything. Your franchise company will likely have some helpful information and statistics to assist you in deciding on the best place to start your business, but ultimately the decision is yours to make. Consider your target demographic when selecting areas to begin your search for the perfect space. Consider details like traffic patterns, parking, nearby stores, and check with the franchisor if you’ll be guaranteed protected territory, meaning that no other franchisee will be able to open shop within a certain distance from yours.
It also never hurts to ask local friends and family what areas of town they enjoy spending time in. Talk to them about what they consider to be good neighborhoods, and where they find themselves gravitating towards when running errands, going out to dinner, etc.
Interested in more tips for buying a franchise? Make sure that you check our blog next month for our next tip!