Jim Laganke : Is there a “best time” to buy a franchise?

Time is everything, says Jim Laganke.

Are you an aspiring entrepreneur and looking for the best franchise business option? There are several factors you need to consider before making the final decision.

You’re qualified enough to buy a franchise and have the required investment and right reasons to do so. According to the president of Stewart’s All America, Jim Laganke, there is another important consideration, which is the “time.”

In simple words, when you buy a franchise the timing has to be right.

When is the right time to purchase a franchise?

Do you know the timing can affect your decision of becoming a franchise owner?

As per the experts, the best time to purchase a franchise is when you have enough investment, passion, and motivation to move forward. This is the right time when you will grow as an entrepreneur of a franchise. 

For instance, you want to quit your lousy job to start your own business, but you may not be able to do it right now. This could be because you lack money, motivation, or due to any other reason. Like, you have a big family to run and you need to pay for your children’s school, and you’re saving money for their college.

This is just one example, why time is an important consideration when buying a franchise. However, there are a lot more factors.

Apart from the right time, it is important to know whether you’re the right candidate for buying a franchise or not.

Who is the right franchise candidate?

You will be considered as the right candidate for buying a franchise, if you meet the following requirements.

If you’re a person who is willing to follow a rigid business system.
You don’t mind the idea of using someone else’s brand or business idea to achieve your goals.
You hold experience in operations, sales, or managing systems and people.
It is perfectly alright for you, if you don’t become a full-fledged entrepreneur.
You’re financially stable with a decent net worth and required liquid capital to buy a franchise.
Do you fit in all these requirements? If the answer is “Yes,” then you are the right franchise candidate.
Now that you meet all the requirements to be an eligible franchise candidate, the next step is considering - why do you want to buy a franchise? This is another important factor to consider.
Before you spend your hard-earned money on buying a franchise, it is important to get honest with yourself when it comes to motivations. Ask yourself these questions like - Do I really want to buy a franchise? Am I happy to pursue franchise ownership as a cover for something else?
If your answer is “Yes,” you’re good to go.
Are you planning to buy a franchise? If yes, then make sure you the right motivation, desire, and enough capital.
Location: 340 Saw Mill Rd, West Haven, CT 06516, USA

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