Franchise Buying Guide

Now You're Cooking

Follow the Recipe
Presented by Guidant Financial
Guidant Financial specializes in helping entrepreneurs purchase new franchises using their retirement funds.

The recipe analogy is apt for franchising because many franchisors insist that franchisees follow their recipe for success without deviation. Make sure you like the business of the franchise and that you're prepared to follow the franchisor's approach to management. Many systems leave no leeway for individual variations on the core elements of the franchise program, so owning a franchise is not for everyone.

This may not be the time to adhere to the old saying, "If you can't stand the heat, get out of the kitchen." It's certainly going to get hot in this kitchen, but it's all part of a great small-business investment. Get used to it. Savor it. If you're organized, relentlessly follow the recipe and choose wisely among the available franchises, you'll deliver a seven-course meal of extraordinary franchise success.

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This article was originally published in the January 1999 print edition of Entrepreneur with the headline: Now You're Cooking.

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