Pam Gold Waldo Find Your Ideal Business Are you ready to begin searching for your dream business? First, you should be sure of your personal interests, needs, and goals. Once you've discovered this information about yourself, start learning about the franchise industry. When you have a thorough understanding of how franchising works and what types of business opportunities are offered, you should begin looki ngforyouridealbusiness. Marc Kiekenapp, Executive Vice President of FranchiseBuyer, a franchise consulting network, explained, "Get your hands on any information and articles you can find. Go to web sites like FranchiseSolutions.com. Learn as much as possible about buying and owning a business." Begin your search by browsing around the Internet, or by contacting a reputable business broker. Using the Internet The Internet has become an integral part of most American’s lives. We visit it for information, breaking news, and to make purchases. Whether you have a solid understanding of yourself and what you want in a business, or you want to learn franchising basics, the web is a great place to visit. With 24/7 access web sites, such as FranchiseSolutions.com, offer easy-to-use search tools and educational resources without any initial pressure to buy. Matt Alden, President of Franchise Solutions, explained, "More and more, people begin the process of evaluating high-ticket, emotionally-driven purchases on the Internet. This is true of homes and cars, and franchises are no different. We all love the anonymity associated with window shopping and at the beginning of searching for a franchise online, this is what prospective buyers are able to do at sites like ours." When you’re ready to take the next step, web sites can help: "Once a prospective buyer submits an inquiry to one or more companies on our sites, they will be quickly engaged by those franchisors via phone or email. Franchisors receive hundreds of inquiries and beyond some initial communication to acknowledge an inquiry, they'll focus their time and energy on prospects that are willing to participate in an information exchange. So, get educated about franchising, be thoughtful about which franchise companies you inquire to, and be prepared to communicate frequently and effectively with those companies," suggested Alden. Using a Consultant "Buying a business is a lot like buying a home in a new city. When you are in the process of buying a house, you need to learn about re-sale, taxes, utility bills, and more. You can do it all on your own by collecting all the information from various sources or you can hire a real estate agent who has all this information already. When it comes to buying a franchise, you can get the answers to all your questions by searching for the information, or you can use a consultant," explained Kiekenapp. Whether you’re ready to buy a business tomorrow or you need plenty of coaching and education, a broker can help you. "With a broker network, the process of buying a business is moved along at a quicker pace. The process is fast and efficient," said Kiekenapp. Consultants should get to know you, your goals, and your interests. With plenty of information about opportunities available in your area and what those companies are looking for in prospective franchisees, the consultant can make an educated decision about which businesses will be a good match for you. If you’re serious about buying a business quickly and easily, FranchiseBuyer offers free consulting services to qualified prospective franchisees. Avoiding Mistakes Making a mistake when you research or buy a business can be a costly, life changing event. A mistake can set your career back, become the source of many headaches, or even cause bankruptcy. So how do you avoid mistakes? Using a professional consultant is an obvious choice but whether or not you use a consultant, remember to do your homework. Most reputable franchisors will engage in a mutual discovery process, assessing whether or not you’re an appropriate match for their company. Do not assume they are only trying to make another sale by offering you a franchise: It should never be strictly about money and a quality franchisor looks for a candidate that has the skills necessary to propel a franchise location to success. Keep your initial goals in mind throughout the search process. Remind yourself of your dreams on a regular basis, and don’t rush into anything. Do plenty of homework: Visit the home office, call current and past franchisees, and investigate sources of financing. Remember that until you sign a franchise agreement, you have not made a commitment to anyone. Do plenty of due diligence and make sure the business you buy is the business of your dreams. More Guidance… For personalized guidance in choosing the right business, contact Steve Olson, FranchiseBuyer’s Vice President, toll-free 1.866.280.6572. With years of franchise industry experience, Steve can answer any questions you might have and refer you to a qualified franchise expert who can guide you through the business buying process. You will never pay a fee for FranchiseBuyer’s services and you will not be under any obligation to purchase a franchise.   Pamela Gold Waldo is a career development expert who has written over 80 articles on making the transition to business ownership. Describing how owning a business can help anyone take control of their career and their lifestyle, Pamela’s articles have helped countless individuals pursue self-employment at various stages of their career. Pamela works for Franchise Solutions Corp. and her articles can be found at http://www.franchisesolutions.com. Copyright 2004 Franchise Solutions, Corp.