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
Lower cost of product/services through TAA strong bargaining power
On-going management fee
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?