While franchising’s prevalence in the Indian economy indicates that franchisees can succeed, hundreds of franchisees fail each year. And the most frequent reasons for their fall is lack of funds, poor people skills, reluctance to follow the formula, a mismatch between franchisee and the business and poor management. Often, it’s the small stuff that separates winners from losers.
Among the most common mistakes new franchisees make is signing on before adequately researching the business. Study what it will take to run the business successfully. And be realistic. Owning a franchise is rarely a get-rich-quick scheme.
Read the full blog at How to Succeed as a Franchise Owner?