When planning to buy your own franchise, one of the biggest considerations is money. Franchisees will often review the franchise disclosure document provided by the franchise they are considering and look at all of the startup costs and fees. But, just like any major purchase like a home or vehicle, running a franchise means there are going to be ongoing costs to factor into your decision as well.
It’s important to plan out a budget ahead of purchasing your franchise to maximize the likelihood and speed at which you reach profitability and to ensure that your plan to purchase a franchise is financially sound in the long run.