Opening a new business, especially a home-based travel franchise, is a time-consuming process that can take several months to complete from start to finish. Your investment in your career and future is a decision that should not be taken lightly.
Here is the four-month schedule we recommend you follow when shopping for a home-based travel franchise. By starting the process in October, you can start the New Year fresh with a new business venture doing something you love.
October – Research home-based travel franchise opportunities.
There are more than 4,000 different brands with franchising opportunities, and nearly 200 home-based travel franchises registered with the International Franchise Association. Do a high-level comparison and identify three to five brands that most interest you and find out if the franchise is offering opportunities in the region you wish to open.
November – Secure answers to questions.
Once you have narrowed down the home-based travel franchise opportunities you are interested in and have verified they are seeking business owners in your region, secure answers to all your specific questions by obtaining a Franchise Disclosure Document (FDD) from each company, meet with a franchise development specialist who can help with the process, interview other franchisees and tour their corporate headquarters, if it interests you.
December – Sign contracts and meet with financial advisor.
After two months of extensive research and meetings, you are probably an expert on the home-based travel franchise industry and have enough knowledge to make a well-informed business decision on which franchise you want to join. Before signing the dotted line, it is a smart idea to meet with a financial advisor to review your financial situation before making this large investment.
January – Open travel franchise in time for Wave Season.
New opportunities come with the New Year. By starting the process in October, you will open your new home-based travel franchise opportunity in January, which also happens to be the start of Wave Season, a three-month period when cruise sales surge. You will immediately see results by implementing the tools learned in training orientation.
Entrepreneurs seeking a new business venture in the travel franchise industry will be destined for success if they start the shopping process in October and take two to three months to find the perfect travel franchise opportunity for themselves.