Avoid Making These 4 Common Mistakes
Every day, millions of Americans get up early, have a cup of coffee, and head into jobs that they can’t stand. But everyone has to pay the bills—so it’s not like there are many alternatives. Or are there? What if there was a way to start something new?
If you’re one of the many Americans that are sick of their current working situation, it could be time to capitalize on something fun, interesting, and lucrative: pizza!
If you didn’t know, those of us in the United States love a tasty, hot pie. In fact, every year, the average American eats about 46 slices of pizza. And you could be the one feeding them if you choose to capitalize on pizza franchise opportunities and reinvigorate your professional career. But be careful! These are common mistakes you’ll want to avoid when starting your very own pizza franchise.
1. Not Getting Enough Financial Backing
Unless you have accumulated hundreds of thousands of dollars—or more—throughout your professional career, you’re likely going to need financial assistance to start your franchise. Make sure you set your business up for success and acquire financing early on from someone you trust with terms that are reasonable and fair.
2. Neglecting to have a Plan B
Even if you have a great business model, plenty of consumer interest, and an excellent product, you could run into serious problems if you don’t have a backup plan. Always have a secondary source of capital in mind when starting a franchise just in case something goes wrong.
3. Purchasing a Franchise Without Hiring a Lawyer
Franchises are quite complicated and you’re going to need legal assistance throughout the entire process. Hire a lawyer who is experienced in franchising so he or she can help you throughout all the complicated legal—and financial—proceedings.
4. Ignoring the Importance of Advertising
Your pizza franchise will never truly succeed if you don’t spend enough time, money, and resources on marketing. You should never slow down your marketing efforts, even once you start succeeding in your industry.
No matter what size organization you’re starting, as long as you work hard and avoid these common mistakes, you should have a great chance of succeeding. If you want to learn more about how to capitalize on Italian restaurant franchises, give Sam & Louie’s a call today!