Buying a franchise is a significant investment, and it's essential to do your research and due diligence before making a decision. Some common mistakes to avoid when buying a franchise include:
Not conducting thorough research on the franchisor, the industry, and the competition.
Not understanding the financial requirements and obligations of the franchise agreement.
Not seeking legal and financial advice from qualified professionals.
Not visiting existing franchise locations and talking to current and former franchisees.
Not having a solid business plan and marketing strategy in place.