Owning a franchise allows you to go into business for yourself, but not by yourself. It can be a great move into the entrepreneur world without a lot of the risk that comes with starting a new business from scratch. However, buying a franchise is still a massive decision and one that should not be taken lightly. Ultimately, whether you’re choosing to take your career in a whole new direction or start a part-time franchise the decision to start a football coaching franchise or any franchise for that matter, isn’t one to be taken lightly.
Any career move has multiple things to consider before jumping into and a football franchise is no different to that. Read on to discover the top 10 things we think you should consider when choosing to buy into a franchise.
1. Study the field
Having prior knowledge of the franchise field that you are looking to get into can be a great help in helping you decide if it’s a field that you want to work in. Whether or not you want to be a hands-on owner having a degree of knowledge will only be a benefit to you. If, for example, you are looking into owning a football franchise such as Baby Ballers then having a degree of knowledge in football and/ or kids football will only be a benefit to you in the long run.
2. Do your homework
Educate yourself. You need to know about not only the industry but also the business you want to buy into. Quiz the franchisee owner, read up on their previous years in business, their wins and failures. Ask questions about the support you’ll be offered and any training. This is a really important one when considering buying into a football franchise.
3. Address your strengths & what you’re passionate about
Being a franchise owner means that you’ll have to get stuck in every part of the business. But, before starting out knowing where your strengths lie and where it would be more beneficial for you to get someone in to help you. If you already know a lot about football skills and teaching children then owning a children’s football franchise is probably going to be a good route for you. However, if you have a lot of hospitality experience then a restaurant would probably be a good route for you.
Another thing to consider is your skills within the business. Owning a franchise needs a whole wealth of different skills from sales to admin. So, addressing which ones you own before starting out can be beneficial to you. Having a passion for the area which you are going to focus on will also make the job more enjoyable and therefore, you more likely to succeed. To read more about how enjoying your job will help you succeed click here.
4. Talk to other franchisees
Talking to other franchisee owners can help you to get a really good unbiased view of the company and what the role would actually be like. Don’t be afraid to pick their brains and ask all of the questions that are on your mind. This is also a great way to meet them before starting out and make potential work relationships that could be both beneficial and just nice to have. You also want to ask them if they would buy into the business again based on what they know now and why they gave this answer, this should give you great insight.
5. Investigate the fees
The initial franchise fee is something that you should check and ensure you can comfortably afford prior to starting out. Between different franchisees, the initial fee can vary greatly so choosing one that you can afford to buy into is very important to you and your success. So check this and any hidden costs before even considering starting a football franchise or any other type of franchise. You can find out about our franchise fees here.
In addition to this, franchisees sometimes also have to pay ongoing royalties and advertising fees. Then there can be opening day expenses and ongoing fees to consider. Such as renting the space to hold your Baby Ballers weekly sessions, paying staff and refreshments which you may offer.
6. Work for a Franchise
Learn by doing. Before starting any sort of business the best way to learn is by doing and learning from others. Once you become an employee of the franchise, you can see how things really work, and how much support you’re offered from the franchisee.
Hopefully, these franchisee tips will help you make an informed decision as you take your next steps into becoming a franchise owner. Becoming a franchise owner is completely different to any other business owner, but it can offer incredible benefits. Any questions regarding owning a Baby Ballers football children’s franchise, drop us an email.