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Advice on Choosing the Right Franchise from Tailored Living

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How to Pick the Right Franchise Business


If you are interested in purchasing a franchise business, there are thousands of options available in a multitude of industries. Sifting through them can truly be a daunting task but there are ways to simplify the process and increase the chances of you partaking in a successful venture.
 
A good way to begin is by asking yourself what type of franchise would fit best with your personality and lifestyle. Consider, for example, the kinds of industries that interest you, the amount of hours you are willing to work, and the amount of customer contact you prefer. Other key factors include the yearly salary you would like to make, the amount of liquid cash you have to invest and whether you would like a storefront or home based business.

As a general rule, you will want to avoid industries and fields that are too crowded with competing franchise businesses. The more options, the less chance a customer will come to you. Do your research and find the best niche market to suit your needs. However, if you are financing your franchise purchase, know that lenders prefer to fund franchises in proven markets.

The franchisor should offer a known brand name, a track record of proven performance and a good overall reputation amongst past and present franchisees. Keep all these things in mind and you will be well on your way to owning a successful franchise business.
 


This is not an offering to sell a franchise. Franchise offerings are made through the Franchise Disclosure Document. This contains forward-looking statements about, among other items, the sales, revenues, products, consumer acceptance, growth rates and franchising potential of Tailored Living. The statements reflect management’s current expectations regarding future events. Statements about Tailored Living’s past performance are not necessarily indicative of its future results. Tailored Living, LLC undertakes no obligation to publicly update or revise any forward-looking statement, whether as the result of new information, future events, or otherwise. This information is not offered or disclosed in connection with an offer to sell or the solicitation of any offer to buy any franchise. Tailored Living® and PremierGarage® are registered trademarks of Tailored Living, LLC in the United States and in other countries. All trademarks, brand names or product names belong to their respective owners. ©Tailored Living, LLC, 2016. All rights reserved.