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Is ownership of a franchise worth it as an initial business venture for example. The answer is yes. If it's taken in context of what you are trying to accomplish. So for example, if your goal is to have a multimillion dollar business, than the franchise that you're looking at has to have some proven examples of generating that kind of revenue.

It should have been established long enough that you can find both people who are successful with the franchise and also find people who have left the franchise to see maybe what they're particular challenges were and what caused them to leave that franchise system.

As much due diligence as you can do and the reasonableness test of what that franchise is about. Does it make sense in the environment you are looking to locate it in? Is the demographics right? Is there enough money in that situation, that environment that the people can afford the service that you're franchising? And finally, the question of are you -- what is your exit strategy for that franchise? Franchising is a great place to learn a business system and how a business works. It' a great place to do an apprenticeship to be an entrepreneur for example, but you have to walk in with your exit plan already understood because otherwise you may just be in a position of buying yourself into a job with no way to get out of it. That's not what we want you to do. We want to see the end, the way to get in and the way to get out so you've though through all the different business competencies that you'll need and then use it as a learning opportunity to make sure that you become a better entrepreneur.

We built a free business health check tool. It's a simple multiple-choice diagnostic to help you identify the strengths and weaknesses in your business. To get your free customized report go to http://wisconsinBusinessCoaching.com

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