Ask the "Happy Questions" Before You Buy a Franchise

by John P. Hayes, Ph.D.

What will make you happy?

I really like that question, because I like to be happy. Doesn't everyone?

It's a simple question, which may explain why so many people don't ask and answer it before they buy a franchise. Maybe it's too simplistic?

Can franchisees be happy?

Or maybe people don't think you can be happy and own a franchise-so they buy one anyway? Maybe they believe that the only way to control their destiny, and their financial future, is through business ownership, and they buy a franchise because they can afford to-and it doesn't matter so much that they won't be happy if at least they'll be rich!

I don't know why people don't ask and answer the question before investing in a franchise, but if I were the Franchise Czar, I'd make it a law!

Franchise Law #1: Answer the Happy Questions or you can't buy a franchise!

Silly, I know.

Happiness is in knowing. But is it any less silly to buy a franchise and not know if owning and operating it will make you happy? And believe me, lots of people do it that way. For most of my franchise career, I have participated in multiple franchisee conventions annually. And these are not always happy events.

Lots of franchisees gather for a convention, they come to learn about the franchisor's vision for the future, to sit in on workshops and training sessions, to meet vendors, and (especially) to mingle with other franchisees. It's in the mingling where the real convention occurs. That's when you recognize the unhappiness.

Some franchisees are really happy in the mingling, whether it's in the hallways, or over a private dinner, or in a late-night poker game (franchisees are always up for gambling because, well, franchising is a bit of a gamble), that's when it becomes obvious who's happy, really happy, and who's not.

Some franchisees will say they're happy because they know it's important to keep a positive attitude and they're hoping that by pretending to be happy some day they actually will be happy!

Seeking Happyville in franchising - Others aren't happy, but are working hard to get to Happyville. They come to conventions to soak up the positive vibes, figuring that eventually they'll get happy, too. They know that happy is more than a state-of-mind, and they just have to figure out how to put together the pieces of the franchise puzzle so that they can be happy.

Wouldn't it have been easier to ask the Happy Questions before investing? So that there's nothing to figure out? I think so.

Ask the Happy Questions - Wouldn't it make sense to take the time to do the homework and ask all the right questions before investing your life savings in a business that might not make you happy? This is so easy...and yet, so many franchisees struggle through the misery of operating their businesses.

Why?

It's because they didn't ask and answer the right questions, beginning with the Happy Questions. Don't make that mistake.

Ask these questions:

1. What will I enjoy selling? (By the way, if you think you can be a franchisee and not sell something, please keep your job).

2. How much do I need to earn to be happy? (Buy a franchise that can provide at least that much income).

3. What work environment will make me happy? (Do you want a business that's in a mall or strip center? Food or no food? Stationery or mobile? Want to work from home?)

4. What work conditions will make me happy? (Do you want to call on businesses to sell them your product/service, or do you want the buyers coming to you? Employees or no employees? Full-time or part-time? Do you want to work 'in' or 'on' the business?)

5. What kind of work relationships make me happy? (Even if you don't hire employees, you'll at least have to relate to vendors and your franchisor. How do you like the director of training, for example? How about the field support supervisor? How about the franchisor's CEO?)

Asking questions is up to you

Those are the kinds of questions a Franchise Czar should insist that you ask and answer...and those are just a few! Of course, there's no such thing as a Franchise Czar, so you've got to take responsibility for asking these and other questions.

Insure your success - By doing so, you can insure your long-term success as a franchisee. Because here's something else you need to know: There really are happy franchisees.

John P. Hayes, Ph.D., author and speaker, has written the Franchise Pre-Investment Checklist to help you thoroughly research franchise opportunities. A 30-year franchise veteran who has owned franchises and was the CEO of a major franchise company, John is perfectly suited to help you with your franchise buying decisions. He offers a variety of free reports, teleconferences and seminars to help you decide if you should Buy a Franchise and if so, which franchise to buy. Subscribe to his free newsletter at http://www.howtobuyafranchise.com and get his free list of 92+ Questions To Ask Before You Buy A Franchise.

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