@karacheiko{"id":22,"date":"2014-06-02T21:40:40","date_gmt":"2014-06-03T01:40:40","guid":{"rendered":"https:\/\/www.boombreakfast.com\/blog\/?p=22"},"modified":"2015-02-03T18:05:34","modified_gmt":"2015-02-03T18:05:34","slug":"5-questions-an-entrepreneur-should-ask-before-buying-a-franchise","status":"publish","type":"post","link":"https:\/\/www.boombreakfast.com\/5-questions-an-entrepreneur-should-ask-before-buying-a-franchise\/","title":{"rendered":"5 Questions an Entrepreneur Should Ask Before Buying a Franchise"},"content":{"rendered":"<p><em>You\u2019re an Entrepreneur and you want to own your own business<\/em> \u2013 That\u2019s Great!<\/p>\n<p><em>You believe the best way to do that is to invest in a franchise<\/em> \u2013 Awesome!<\/p>\n<p>But before you give the Franchisor the deposit, you really need to ask yourself these five questions first \u2013 or you will hate your new business and regret your investment for the rest of your life!<\/p>\n<ol start=\"1\">\n<li><strong>Will I be proud to own this business?<\/strong><\/li>\n<\/ol>\n<p>The idea of owning your own business is seductive &#8211; and the possibility of making lots of money is attractive too! But will you be proud to tell your family and friends that you own it? There are lots of ways to make a living, and not all of them are necessarily things you\u2019d want your family and friends to know about.<\/p>\n<p><a href=\"https:\/\/www.boombreakfast.com\/blog\/wp-content\/uploads\/2014\/06\/lemonade-stand-600x420.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignleft wp-image-60 size-full\" src=\"https:\/\/www.boombreakfast.com\/blog\/wp-content\/uploads\/2014\/06\/lemonade-stand-600x420.jpg\" alt=\"lemonade-stand-600x420\" width=\"600\" height=\"420\" \/><\/a><\/p>\n<p>Everyone is different, naturally, and we all have our own moral compass. Do something you feel great about, something you want the entire world to know you\u2019re doing. If you\u2019re not passionate about the Franchisor\u2019s product or service before you buy the franchise, think how you\u2019ll feel when you\u2019ve paid (possibly) hundreds of thousands of dollars for the right to sell those products or services.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<blockquote><p><em>You should want to scream at the top of your lungs \u2013 This is mine! And you should mean it.<\/em><\/p><\/blockquote>\n<ol start=\"2\">\n<li><strong>Who are your real competitors?<\/strong><\/li>\n<\/ol>\n<p>Competition these days comes from all quarters. In the internet age competition no longer simply comes in the form of bricks-and-mortar, and you cannot simply drive around a neighbourhood to scope out rival locations. There\u2019s online, outsourcing, home business, and the ever-increasing reach of the big box stores \u2013 and then there are the really big boys \u2013 Walmart, Home Depot, MacDonalds, Tim Hortons.<\/p>\n<p>Don\u2019t just look at the little niche your franchise has settled into. Ten years ago McDonalds didn\u2019t sell much coffee. Now coffee is one of its fastest growing product lines. Opening up a caf\u00e9? Consider those golden arches.<\/p>\n<p>And regardless of what Franchise you\u2019re considering, it\u2019s worth while to stroll through a Walmart. Do they offer what you\u2019re thinking of selling?<\/p>\n<blockquote><p><em>Don\u2019t be intimidated. Be informed.<\/em><\/p><\/blockquote>\n<ol start=\"3\">\n<li><strong>Do I want to spend the next ten years doing this?<\/strong><\/li>\n<\/ol>\n<p>Most franchise entrepreneurs love to think about success \u2013 owning five, ten, fifteen locations \u2013 and that\u2019s great. If you don\u2019t hope, you never find what is beyond your hopes<\/p>\n<p><a href=\"https:\/\/www.boombreakfast.com\/blog\/wp-content\/uploads\/2014\/06\/success_kid.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignleft wp-image-64 size-large\" src=\"https:\/\/www.boombreakfast.com\/blog\/wp-content\/uploads\/2014\/06\/success_kid-1024x680.jpg\" alt=\"success_kid\" width=\"604\" height=\"401\" \/><\/a><\/p>\n<p>But there\u2019s that old (annoying) reality: it always boils down to work. Do you see yourself working in the franchise\u2019s line of work in ten years\u2019 time, doing it day after day, year after year? If that idea fires you up, then you\u2019re headed in the right direction. Go for it.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<blockquote><p><em>Dream big: but you\u2019d better love the dream.<\/em><\/p><\/blockquote>\n<ol start=\"4\">\n<li><strong>Do I really like being responsible for others?<\/strong><\/li>\n<\/ol>\n<p>Time to get introspective.<\/p>\n<p>You know yourself. Do you really like to be the person everyone relies on? This is your last chance to think this through. Yes, the franchisor will be there to help you; that\u2019s one of the major reasons for investing in a franchise. But ultimately, you have to drive the success yourself. You will be the owner of the franchise. You will enjoy the fruits of your efforts; and so will you be responsible for any financial losses.<\/p>\n<blockquote><p><em>There\u2019s no shame in admitting you want to work for someone else.<\/em><\/p><\/blockquote>\n<ol start=\"5\">\n<li><strong>Do you like the sound of it?<\/strong><\/li>\n<\/ol>\n<p>This is the gut check.<\/p>\n<p>Or call it the smell test.<\/p>\n<p>How does the sound of the franchise strike you? Do you like the culture around the franchise? Don\u2019t give it too much thought \u2013 just feel it. Picture yourself in the franchise \u2013 for real. Put on the uniform. Get behind the desk. Imagine yourself serving a customer and asking them if they\u2019d like your product or service. Pretend that you\u2019re doing the work right now.<\/p>\n<p>Do you like what you see? Does it feel right?<\/p>\n<p>If it does \u2013 don\u2019t let your fears stand in your way.<\/p>\n<p><a href=\"https:\/\/www.boombreakfast.com\/blog\/wp-content\/uploads\/2014\/06\/DSC_9667_web.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignleft wp-image-73 size-full\" src=\"https:\/\/www.boombreakfast.com\/blog\/wp-content\/uploads\/2014\/06\/DSC_9667_web.jpg\" alt=\"DSC_9667_web\" width=\"600\" height=\"399\" \/><\/a><\/p>\n<p>But trust yourself, too. Don\u2019t let yourself get carried away by the idea. Some entrepreneurs continue with a Franchise simply because they\u2019ve told people about it and don\u2019t want to look foolish by backing out.<\/p>\n<p>Maybe you will look a little silly \u2013 but you won\u2019t have thrown away all that money and wasted all that time and energy \u2013 or even worse, you won\u2019t be trapped doing something you don\u2019t enjoy.<\/p>\n<p>Five little questions can make all the difference in your life. Certainly, this is not an exhaustive list, and there are literally dozens of additional issues an entrepreneur will have to deal with before committing to a particular franchise. These five questions are a good place to start, however.<\/p>\n<p><em>BOOM Breakfast &amp; Co. is a GTA-based franchisor in the Breakfast and Lunch Restaurant sector. Check BOOM out at<\/em> <a href=\"https:\/\/www.boombreakfast.com\/\">www.boombreakfast.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You\u2019re an Entrepreneur and you want to own your own business \u2013 That\u2019s Great! You believe the best way to do that is to invest in a franchise \u2013 Awesome! But before you give the Franchisor the deposit, you really need to ask yourself these five questions first \u2013 or you will hate your new [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,5],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>5 Questions an Entrepreneur Should Ask Before Buying a Franchise - Toronto Lunch and Brunch - Boom Breakfast<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.boombreakfast.com\/5-questions-an-entrepreneur-should-ask-before-buying-a-franchise\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Questions an Entrepreneur Should Ask Before Buying a Franchise - Toronto Lunch and Brunch - Boom Breakfast\" \/>\n<meta property=\"og:description\" content=\"You\u2019re an Entrepreneur and you want to own your own business \u2013 That\u2019s Great! You believe the best way to do that is to invest in a franchise \u2013 Awesome! But before you give the Franchisor the deposit, you really need to ask yourself these five questions first \u2013 or you will hate your new [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.boombreakfast.com\/5-questions-an-entrepreneur-should-ask-before-buying-a-franchise\/\" \/>\n<meta property=\"og:site_name\" content=\"Toronto Lunch and Brunch - Boom Breakfast\" \/>\n<meta property=\"article:published_time\" content=\"2014-06-03T01:40:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-02-03T18:05:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.boombreakfast.com\/blog\/wp-content\/uploads\/2014\/06\/lemonade-stand-600x420.jpg\" \/>\n<meta name=\"author\" content=\"kara cheiko\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"kara cheiko\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.boombreakfast.com\/5-questions-an-entrepreneur-should-ask-before-buying-a-franchise\/\",\"url\":\"https:\/\/www.boombreakfast.com\/5-questions-an-entrepreneur-should-ask-before-buying-a-franchise\/\",\"name\":\"5 Questions an Entrepreneur Should Ask Before Buying a Franchise - Toronto Lunch and Brunch - Boom Breakfast\",\"isPartOf\":{\"@id\":\"https:\/\/www.boombreakfast.com\/#website\"},\"datePublished\":\"2014-06-03T01:40:40+00:00\",\"dateModified\":\"2015-02-03T18:05:34+00:00\",\"author\":{\"@id\":\"https:\/\/www.boombreakfast.com\/#\/schema\/person\/0f00eeea8fe1c1b25fd5a37e3753c194\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.boombreakfast.com\/5-questions-an-entrepreneur-should-ask-before-buying-a-franchise\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.boombreakfast.com\/5-questions-an-entrepreneur-should-ask-before-buying-a-franchise\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.boombreakfast.com\/5-questions-an-entrepreneur-should-ask-before-buying-a-franchise\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.boombreakfast.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"5 Questions an Entrepreneur Should Ask Before Buying a Franchise\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.boombreakfast.com\/#website\",\"url\":\"https:\/\/www.boombreakfast.com\/\",\"name\":\"Toronto Lunch and Brunch - Boom Breakfast\",\"description\":\"Where Friends and Food Collide\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.boombreakfast.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.boombreakfast.com\/#\/schema\/person\/0f00eeea8fe1c1b25fd5a37e3753c194\",\"name\":\"kara cheiko\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.boombreakfast.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/925cf49161f7c2820569aabb6dd4d64f?s=96&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/925cf49161f7c2820569aabb6dd4d64f?s=96&r=g\",\"caption\":\"kara cheiko\"},\"sameAs\":[\"https:\/\/www.boombreakfast.com\/\"],\"url\":\"https:\/\/www.boombreakfast.com\/author\/karacheiko\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"5 Questions an Entrepreneur Should Ask Before Buying a Franchise - Toronto Lunch and Brunch - Boom Breakfast","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.boombreakfast.com\/5-questions-an-entrepreneur-should-ask-before-buying-a-franchise\/","og_locale":"en_US","og_type":"article","og_title":"5 Questions an Entrepreneur Should Ask Before Buying a Franchise - Toronto Lunch and Brunch - Boom Breakfast","og_description":"You\u2019re an Entrepreneur and you want to own your own business \u2013 That\u2019s Great! You believe the best way to do that is to invest in a franchise \u2013 Awesome! But before you give the Franchisor the deposit, you really need to ask yourself these five questions first \u2013 or you will hate your new [&hellip;]","og_url":"https:\/\/www.boombreakfast.com\/5-questions-an-entrepreneur-should-ask-before-buying-a-franchise\/","og_site_name":"Toronto Lunch and Brunch - Boom Breakfast","article_published_time":"2014-06-03T01:40:40+00:00","article_modified_time":"2015-02-03T18:05:34+00:00","og_image":[{"url":"https:\/\/www.boombreakfast.com\/blog\/wp-content\/uploads\/2014\/06\/lemonade-stand-600x420.jpg"}],"author":"kara cheiko","twitter_card":"summary_large_image","twitter_misc":{"Written by":"kara cheiko","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.boombreakfast.com\/5-questions-an-entrepreneur-should-ask-before-buying-a-franchise\/","url":"https:\/\/www.boombreakfast.com\/5-questions-an-entrepreneur-should-ask-before-buying-a-franchise\/","name":"5 Questions an Entrepreneur Should Ask Before Buying a Franchise - Toronto Lunch and Brunch - Boom Breakfast","isPartOf":{"@id":"https:\/\/www.boombreakfast.com\/#website"},"datePublished":"2014-06-03T01:40:40+00:00","dateModified":"2015-02-03T18:05:34+00:00","author":{"@id":"https:\/\/www.boombreakfast.com\/#\/schema\/person\/0f00eeea8fe1c1b25fd5a37e3753c194"},"breadcrumb":{"@id":"https:\/\/www.boombreakfast.com\/5-questions-an-entrepreneur-should-ask-before-buying-a-franchise\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.boombreakfast.com\/5-questions-an-entrepreneur-should-ask-before-buying-a-franchise\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.boombreakfast.com\/5-questions-an-entrepreneur-should-ask-before-buying-a-franchise\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.boombreakfast.com\/"},{"@type":"ListItem","position":2,"name":"5 Questions an Entrepreneur Should Ask Before Buying a Franchise"}]},{"@type":"WebSite","@id":"https:\/\/www.boombreakfast.com\/#website","url":"https:\/\/www.boombreakfast.com\/","name":"Toronto Lunch and Brunch - Boom Breakfast","description":"Where Friends and Food Collide","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.boombreakfast.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.boombreakfast.com\/#\/schema\/person\/0f00eeea8fe1c1b25fd5a37e3753c194","name":"kara cheiko","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.boombreakfast.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/925cf49161f7c2820569aabb6dd4d64f?s=96&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/925cf49161f7c2820569aabb6dd4d64f?s=96&r=g","caption":"kara cheiko"},"sameAs":["https:\/\/www.boombreakfast.com\/"],"url":"https:\/\/www.boombreakfast.com\/author\/karacheiko\/"}]}},"_links":{"self":[{"href":"https:\/\/www.boombreakfast.com\/wp-json\/wp\/v2\/posts\/22"}],"collection":[{"href":"https:\/\/www.boombreakfast.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.boombreakfast.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.boombreakfast.com\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.boombreakfast.com\/wp-json\/wp\/v2\/comments?post=22"}],"version-history":[{"count":24,"href":"https:\/\/www.boombreakfast.com\/wp-json\/wp\/v2\/posts\/22\/revisions"}],"predecessor-version":[{"id":84,"href":"https:\/\/www.boombreakfast.com\/wp-json\/wp\/v2\/posts\/22\/revisions\/84"}],"wp:attachment":[{"href":"https:\/\/www.boombreakfast.com\/wp-json\/wp\/v2\/media?parent=22"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.boombreakfast.com\/wp-json\/wp\/v2\/categories?post=22"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.boombreakfast.com\/wp-json\/wp\/v2\/tags?post=22"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}