Jim Laganke: Tips to determine the success of a franchise business in your city or town
Now that you’ve decided to buy a franchise business, you might have already shortlisted a few options to invest in. Maybe your preferred franchise business is well-established and gaining humongous success in other cities or towns. But it's not necessary that you will get the same response from your city as well, says Jim Laganke . This is why it is advisable to do some research work before signing any agreement papers. According to the owner of a famous restaurant chain, Stewart’s All American , in the US, you need to know what kind of businesses are there in your city and neighborhood. This will give you an idea of whether you’re investing your hard-earned money in the right place or not. Here are some of the things you need to consider to determine the viability of a franchise in your city. Does your city already have this type of franchises or independent businesses? Let’s understand this with an example. If you’re planning to invest in a coffee franchise, you need to know al...