Start with the end in mind

Investing in a franchise opportunity is not something that should be taken lightly. As with any major business venture, careful planning and due diligence must be baked into the formula.

In past blogs we have discussed what types of questions you should ask yourself – or your franchise consultant should ask you – but we wanted to revisit the topic and dig a little deeper into the importance of a long-term vision.

Sure, you’ve asked yourself what type of business you’re passionate about, how much time and money you have to invest, and whether you have the required skill set to make it work, but there is another important question.

What is your end game?

Popular author Stephen Covey said in his wildly famous book about the habits of highly successful people that to be successful, you have to “start with the end in mind.”

For example, are you planning on leaving the franchise to your children? Perhaps you want to run it for a few years, make some money, then sell it?

Whatever you choose, the better you know exactly what the end will look like, the easier it will be for you to plan for every step of the way. When you’ve thought it through to the end, you’ve thought of everything. Use that knowledge to shape your actions.

In the end, ask yourself the three pertinent “W” questions:

• Why are you investing in a franchise opportunity?
• What you are getting into?
• Who are you getting into it with?

Have you reached a point in life where you feel like there should be something more? Do you want to leave more to your legacy than four grey cubicle walls? We can help! http://franlogistics.com/