You've done your research and decided that a computer franchise is right for you.
You want the support that comes with an established name and larger organization, but you want to own your local branch.
There's only one thing holding you back: cost.
The initial cost for purchasing a computer franchise can run into the tens and even hundreds of thousands of dollars. Fortunately, you might be able to save some of that money by buying a franchise from an existing owner—essentially, getting a deal on a "pre-owned" business.
Research the Deal
It's not necessarily a warning sign that someone is selling their franchise—they may be retiring, moving on to something else, or cashing out after a period of success.
But it's important to look into the reasons the franchise is for sale.
The good news is that there are concrete records of how that business has done so far.
In a two-part series in Entrepreneur magazine, Jeff Elgin lays out some of the questions you should ask to determine if a previously-owned franchise is too much risk and how to place a fair value on it.
Where to Find Bargains
Finding an existing computer franchise for sale needn't be a problem, either.
As always, consult with your attorney and accountant before purchasing any computer franchise.
Are you considering a secondhand franchise? What do you see as the pros and cons? Please share your thoughts in the comments below.
And to follow-through on the ideas introduced in this short post, be sure to download your free copy of the quick reference guide to the 13 Computer Franchises that Start Up and Support Computer Repair, IT Consulting, and Managed Service Provider Businesses.
Creative Commons Image Source: flickr Valerie Everett
Topics:- Computer Consulting Business