Alright I am going to put myself out there on this one and ask for some free and friendly advice
I am wondering if there are any small business owners or franchise owners who would be willing to share their advice for a newbie looking to invest in a franchise. A friend and I have some capital that we are looking to put to some use by investing in a profitable franchise. Something that doesn't take too long to have positive cash flow and will return a decent ROI after 5-6 years if successful. We are trying to stay away from restaurants although we are open to fast food businesses and leaning towards things like retail stores (ex. pet stores). We've also been looking at potentially buying an existing business that has growth potential. Thing is - we do like the idea of having a franchise model where the supply chain, technology and business processes are already set up for us to use.
Any tips on getting the best deals for start up loans, what I should be looking for in terms of a pay back period and ROI? Advice on what to watch out for and what to avoid as I interview different franchises? Any other advice you might suggest to someone stepping into the world of business ownership?
Thanks for any tips you might have and feel free to ask me any questions!
Advice: Any Franchisees or Small Business Owners
