Discovery Point Blog
Considering a Franchise For Sale? Ask These Questions
If you’re interested in running your own business, you may be looking at a franchise for sale. Purchasing a franchise enables you to hit the ground running and avoid many of the hurdles that come with starting a business from scratch.
You’ll encounter fewer risks and acquire access to benefits ranging from professional training and support to the use of proven systems and procedures. This is especially true when you choose to purchase a child care franchise from Discovery Point. We offer extensive assistance for franchisees that helps them open and grow successful child care centers.
However, buying a franchise isn’t the right choice for everyone. It’s important to take the time to ask yourself – and the franchisor – crucial questions before you make the choice to purchase a franchise.
Doing this will give you essential information to help with the decision-making process. It will also give you a greater level of confidence in the opportunity you choose to pursue.
Key Questions to Consider When Evaluating a Franchise for Sale
As you consider buying a franchise for sale, you’ll want to be sure you’re well-informed about the fine print of the agreement as well as your own intentions and desires about the future.
Here are a few key questions that are worth answering before making any big decisions:
- Are you ready to become a business owner?
Now’s the time to look inward and ask yourself if business ownership is the right path for you. Becoming your own boss is often a major transition that requires hard work, patience, and confidence.
If you feel unprepared for the emotional and financial ups and downs that come along with owning a business, you may want to wait to make this dream a reality.
- Do you have a passion for the industry?
At Discovery Point, we see each and every day how important it is for our franchisees to have a passion for child care. This passion drives the work they do and enables them to reap the rewards of their efforts more fully.
Examine your own personal values, goals, and strengths and ensure that the type of work you’re undertaking is in line with these core elements.
- What are the trends in the industry?
How does the future look for the industry, and does this assessment give you optimism about entering this field? The statistics for the child care industry have bolstered many of our franchisees’ decisions to open a child care center.
For example, revenue for this industry is projected to hit $52.5 billion within the next two years. In addition, child care is expected to experience the fastest growth in employment among all industries through at least 2020.
- What kinds of support does the franchisor offer?
Your decision to purchase a franchise that is for sale should take into account the specific forms of support you can expect to receive as a franchisee.
At Discovery Point, we guide our franchisees through four weeks of operational training, provide them with ongoing corporate support, and offer assistance with site selection. We also provide access to our proprietary curriculum and additional training for teachers and staff members.
- How long does it take to get the business up and running?
Some franchise companies use a turnkey model that makes it easy to get started, while others leave much of the upfront work in your hands. At Discovery Point, we provide our franchisees with turnkey packages that include everything from center design and construction to details like office supplies and toy selection.
Not only do these packages make it easy to get your business up and running, but they also save you quite a bit of time. Through a straightforward, ten-step process, you can go from a potential franchisee to a business owner in a relatively quick manner.