Not so fast!
It may sound obvious but past performance is not a reliable indicator of future performance.
Unless you know what's happening (or about to happen) in the Industry, and in the market in which you will operate, you could be in for a rude wake up call. We live in a time of rapid & continual change. Unless it is managed, you will be left wondering "What the hell happened to my business?"
In addition to seeing how others are doing, there is substantial additional research that must be done to ensure that the smiling faces will still be smiling in a year or two's time. "Looking into the future" is an essential aspect in deciding whether to buy into a franchise, or in deciding what changes to make to your business.
Anyone have experiences that illustrate how the past performance of your business or franchise has not been a reliable measure of future performance?
The Franchisees Advocate Group.
www.franchiseesadvocate.com
It may sound obvious but past performance is not a reliable indicator of future performance.
Unless you know what's happening (or about to happen) in the Industry, and in the market in which you will operate, you could be in for a rude wake up call. We live in a time of rapid & continual change. Unless it is managed, you will be left wondering "What the hell happened to my business?"
In addition to seeing how others are doing, there is substantial additional research that must be done to ensure that the smiling faces will still be smiling in a year or two's time. "Looking into the future" is an essential aspect in deciding whether to buy into a franchise, or in deciding what changes to make to your business.
Anyone have experiences that illustrate how the past performance of your business or franchise has not been a reliable measure of future performance?
The Franchisees Advocate Group.
www.franchiseesadvocate.com
