…but make sure it is for the right parts.
You have probably heard the phrase, “Make the business work for you, not the other way around.” That is a nice saying. What, with eleven words and all, a comma, and even a period. But the reality is, sometimes your passion means having to work incredibly hard with hours that are unbearable, pay that is next to nothing, and with a family at home you used to know. And that is why when I am asked for advice on starting up a business, or even buying a business, I need to hear certain things before I can sign off on it. Having owned a couple restaurants and bars plus having consulted with hundreds of small businesses in home-care, I have learned a great deal about when it is right to make the move into self-employment and an entrepreneurial world.
A short time ago, a friend asked me to meet for coffee. He wanted to discuss my thoughts on him buying a business or franchising one. I knew he had some specific loves of his life and was excited to hear what he wanted to do. After half a cup of the java it was clear he was thinking like most people do when it comes to this moment; poorly. I asked him what he had in his head and his response was, “Well, I really like this [coffee house] and was thinking of buying a franchise.”