Thinking of Buying a Franchise? Read This First! 💸
💡 Franchise ownership can be rewarding, but unexpected costs can sneak up on you! Before you dive in, ask yourself:
👉 What if the startup costs double?
👉 What if my location takes 18 months (instead of 6-8) to open?
👉 Do I have a backup plan for funding?
🎓 Here’s how to budget smartly:
1️⃣ Worst Case: Add 50% to all projected costs.
2️⃣ Average Case: Add 10% to your projections.
3️⃣ Best Case: Use the standard projections, but add a 25% increase in both revenue and expenses.
Planning for every scenario—worst, average, and best—gives you the confidence to navigate surprises and stay on track. 🚀
💡 Remember, preparation is the key to franchise success. Take time to budget thoroughly and set yourself up for long-term financial stability. 💼