In our last blog, we talked a lot about what you need to consider before writing a check and investing in an education franchise. While the idea may seem appealing, it’s certainly not for everyone. Today in part 2 of our series, we’re going to discuss a few more things you should think about before investing in an education franchise with The Learning Rx.
- A big factor to consider when thinking about investing in any type of franchise is your personality. Telling yourself that you’re going to follow the rules of the franchise model and then actually following those rules are two totally different things. Do some self-reflection: Have you had trouble following the rules in a corporate setting? Have you ever felt like the rules in place didn’t apply to you? If you don’t generally follow the rules, investing in a franchise may not be a good thing for you to do with your money.
- While this one may seem obvious, considering your finances is always a must. We hate to see people get excited about The Learning Rx’s education franchises only to find that they don’t fit within their budget. Take inventory and do a simple net worth statement before starting your search for a franchise investment. This initial time spent looking at your finances may end up saving you a lot of heartbreak in the end. Plus, most franchises have a minimum net worth requirement for investment and it’s important to know yours before getting the ball rolling.