A very common question with no easy answer. The kind and amount of experience you need depends on the franchise you’re looking to buy into, of course. However, here are some common themes to help guide your search.
So you’ve decided that you want to buy a franchise - great! You’re one step closer to owning your own business. Then, of course, the next step will be to do your franchise due diligence. We talk all about due diligence here.
Picture this - serving the needs of your community, while being able to run a business? Seems like a pretty good deal! One of the franchises that offers this is Rainbow International® - a post-disaster restoration service franchise for water damage, smoke, fire, and mold in homes.
At FranchiseHelp, we see thousands of visitors each month from budding entrepreneurs who think that selling coffee to their fellow caffeine addicts could make for an exciting and lucrative venture.
Juggling work and a degree is no easy task. But that didn’t stop Timothy Rice, a serial entrepreneur and owner of multiple franchises. He studied at the University of Michigan for over 10 years to earn a degree in consumer behavior, economics, and public relations. Upon graduating in 2005, Rice entered the corporate world, but quickly found that it was not a match with his skills or his lifestyle.
If learning about things like GAAP accounting, revenue recognition
policies, and the intricacies of cost vs. expenses fires you up,
you're going to love this post.