MARKET FORCES

What to look for when you are searching for an industry with business potential.

Make it easy for yourself: apply some strategy to the research you need to do when investigating your future franchise sector. The more time you spend on understanding market trends and business potential, the more confident you will be in your choice of franchise.

Three critical factors will come into play when you make the decision to choose one sector over another:

• What is the economic potential for

the industry?

• Will you enjoy working in the sector? • Do you have the right skills to be

successful?

As part of the process of due diligence, you will be considering many factors, even if you have already have set your sights on a particular industry or even brand. It is not uncommon for franchisees to be weighing up the potentials for a range of businesses that interest them at an early stage of discovering what franchising is all about.

Some potential franchisees are undecided about brands, and are taking a helicopter view of the various sectors to spot potential before they dip down further into details.

Perhaps you are seeking an investment only, and will be looking for someone else to manage and run the business.

How to choose an industry

that is right for you.

UPWARD TRAJECTORY

Whichever approach you take, it is crucial to evaluate the status, potential and market challenges of any industry. You may not plan to be in your franchise for more than one term, which could be as little as three years, but you will still need to sell the business and make

It has never been easier to access commentary, resources and opinion on

specific market sectors.