We all face difficult decisions at different stages of our lives. By difficult decision I mean a decision that will have a far reaching effect in years to come.
I am currently facing a difficult decision over a TAA franchise. Should I go for it? I will try and layout benefits and downsides as I see them of going for TAA franchise:
|Great support means massively reduce the risk of making major errors||Giving up my own brand/name of practice – little known as it is. I spent so much time thinking of the name.|
|Far easier to get bank funding with TAA name||Giving up my website- I spent hours and hours on thinking about the design. I just love my website. So do my clients.|
|Shop front risk reduced – location, type, suppliers and help within the network of avoiding pitfalls||Giving up my office that I love so much|
|Exchange of ideas within the network||Franchisee fee|
|Lower cost of product/services through TAA strong bargaining power||On-going management fee|
|Excellent systems||Have to follow franchisors systems even the ones I do not like|
|Excellent CPD through TAA Academy||High exit fees. If I decide to leave before my 5 years are up.|
|Regional meeting mean concerns and ideas can expressed||The territory I want is not available.|
|Third party suppliers are vetted by TAA||What if my chosen territory does not generate sufficient fee bank?|
|Most importantly sales and marketing support and training|
|It will force me to think and draft a business plan. I love their business plan template.|
|Massive increase in fee bank|
Bold text are key advantages/disadvantages as I see them.
I still remain impressed with TAA. I spoke to 8 to 10 TAA franchisees. All of them said their investment was worthwhile and they do not regret their decision. Mind you they are 2 franchisees who have not returned my call. I do not know what that says. I will try and pursue them and see if they will speak to me.
It is now crunch time – yes or no? Any further light you can throw that will aid my decision making?