Basics of a Famous Sam's Franchise
If you’re thinking about buying a Famous Sam's franchise, there are many things to consider before signing on the dotted line. Becoming a Famous Sam's franchisee is not a guarantee of success, but rather a blueprint that can assist you in achieving success. Given the correct market conditions, skills and dedication, being a Famous Sam's franchisee might be financially rewarding.
Owning a Famous Sam's franchise is a serious commitment and works best when you make a thoughtful, educated decision.
- Just because you love Famous Sam's’s products or services doesn’t mean that you will be able to successfully operate a Famous Sam's franchise.
- Being emotionally attached to the idea of becoming a Famous Sam's franchisee is not a state of mind in which you can effectively evaluate an opportunity.
- Your positive experience as a customer of Famous Sam's should not form the basis for deciding to become a franchisee.
As an example, just because you love Big Macs doesn’t mean that you should become a McDonald’s franchisee.
Are you looking for some free resources to help you determine if a Famous Sam's franchise is for you?
Famous Sam's Due Diligence
You must conduct smart due diligence and determine from a business perspective whether owning a Famous Sam's franchise is right for you.
If you truly want own a Famous Sam's franchise, get all the information you can from Famous Sam's and secure a qualified advisor who has experience helping people like you purchase franchises.
You may also want find that gaining a better understanding of the terms related to franchising would be helpful. If so, you may want to visit A Glossary of Franchise Terms.
Make sure that owning a Famous Sam's franchise fits in with both your skills and life style objectives. If you don’t want to work evening and weekends, don’t purchase an ice cream shop. If you’re an introvert, don’t buy a franchisee that requires you to be extroverted.
Are you interested in more questions to ask Famous Sam's franchisor, Famous Sam's franchisee, or even yourself? Get to know the terms.
Famous Sam's Franchise Disclosure Document
Carefully read the Famous Sam's Franchise DisclosureDocument (Also known as an FDD). They can be intimidating.
As you are reviewing Famous Sam's’s Franchise Disclosure Document you will have a number of calls with Famous Sam's’s franchise team before you will be allowed to call Famous Sam's franchisees.
When you are allowed to call Famous Sam's franchisees make sure you speak to at least five to eight franchisees. You will find that most Famous Sam's franchisees will be honest and unbiased about Famous Sam's. If you would like more information on how to dissect a Famous Sam's FDD consider the following resources:
Does a Famous Sam's Franchise Make Money?
A critical part of your due diligence is to build an estimated P&L (profit and loss statement) and see what the numbers might look like if you become a Famous Sam's franchisee. Reading Chapter 13 of The Educated Franchise teaches you the secrets of this key step.
The decision making tools in Chapter 15 of The Educated Franchise and in Step 13 of The Franchisee Workbook shows you how to honestly evaluate whether or not buying a Famous Sam's franchise is the right move for you.
If you’re serious about becoming a Famous Sam's all franchisee and want to explore owning a Famous Sam's franchise, take the best first step you can and grab your copy of The Educated Franchise today!