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Showing posts from September, 2019

Market Research Instructions for Potential Franchise Owners in 2019

One doesn’t just arrive at the decision to open and operate a franchise and make this business goal a reality in a matter of days. Apart from a wide range of responsibilities associated with getting a franchisee off the ground, there is also a need for comprehensive market research. Potential franchise owners shoulder the task of extensive market research prior to setting up a successful franchise. Listed below are helpful market research tips to aid potential franchise owners in their efforts to understand the market for the product/service one is aiming to sell.
Understand the Market Need for Your Product/Service ‘You cannot sell ice to an Eskimo’ and this popular adage applies to franchise business as well. Ultimately, the market needs for the product/service you aim to sell will determine the success of your franchise. As such, it is important that you research the best franchise opportunities bearing in mind the need of the local market. For example, it will make little sense to t…