Franchise Project Management

Matthew D. Gonzalez, MCSE, PMP

Without question, if you've come this far in determining the entrepreneurial spirit is alive and well within you, you're probably ready to ask yourself, "Is franchising for me?" The common--and most mistaken--view of opening a well-established franchise is that the grand opening alone will make me rich! Well, maybe. The richness will definitely come, maybe in the form of money should you succeed, or you may end up rich with lessons learned should you succeed or fail. Either way, ask yourself:

  • Do I wish for autonomy?
  • Do I want to be glued to a mother company?
  • Am I willing to manage others, along with a company?
  • Can I stand the mother company taking royalties from me?
  • Should I fail or succeed, can I continue making the leasing and debt payments?
  • Is the "perfect location" really the "best" location amongst alternatives?

By asking yourself these questions, you've inherently introduced many of the political, human resource, risk, negotiating and communication issues that will confront you should you decide franchising is the way to go.

What's the Hurry?
Whoa, slow down a bit. There are plenty of franchisees, much like yourself, who've filled out applications and are just as willing to get started immediately. Enter time management. Keep in mind that (a) if you decide to fill out an application and (b) if you are able to show a net worth equal to what …

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