Advice, insights and lessons for anyone considering buying a franchise.
Taj moved from Pakistan to the U.S. in 1979, eventually buying several Sport Clips franchises. He talked to Immpreneur about how to evaluate a franchise opportunity and other matters.
How did being an immigrant help you?
“I’ve never thought of myself as being any different from any other person in America. And I’ve always found that if you work hard and try to think outside the box, things tend to work out well.
“At the same time, I bring with me certain cultural values and perspectives that have helped me to look at things differently. You can take your values and mix them with things you find here, and come up with something better.”
How did franchising help you realize your goals?
“I was able to find a business I felt comfortable doing long-term that makes the most of my skills.”
How did Sport Clips help?
“All their training and support was very important. And they allow us to come up with our own ideas and help us to make them work.”
What advice would you give immigrants who want to be franchise owners?
“In some cases you might need take into account certain considerations. For example, I have a friend who is a vegetarian for religious reasons and looked for franchises where he didn’t have to handle meat. But otherwise I think the issues are the same for immigrants and non-immigrants. You have to get know your community and the kind of business it will support. Talk to franchisees in your community. They can give you ideas about just what you should be looking for.”
What’s the best way to evaluate a franchise opportunity?
“Talk to current franchise owners. And go to franchising shows. Visit the company website. You’re looking for several things. Find out about the support system, their internal structures, and their plans for growth. And pinpoint the kind of financials you need to buy a franchise and to break even. Also, you need to figure out what you’re looking for: just one franchise or a growth plan for several locations? When you have that information, it should give you a good idea if the business is for you or not.”
