When you are investigating a franchise or any business opportunities, it’s important to be committed to doing a lot of legwork. This means going through the due diligence process thoughtfully and carefully and not making “assumptions” not based on facts.
Remember when you are speaking with a franchise, you are either speaking to the franchise development team or directly with the owner in the case of emerging brands. They have one job and one job only – to sell you a franchise. It is true that with most brands they are looking for a good “fit”, someone with the savvy and acumen to succeed in executing on their business system. And you won’t be awarded the territory if, at a minimum, they do not feel you have that. But assuming you were introduced to a concept by a franchise consultant – it’s likely that the brand is a good fit.
Bottom line: you never want to rely solely on what the franchise rep is telling you. You have to dig way deeper. It’s also worth noting that no important information you will need (except maybe cost) is found on the internet. It is designed so you HAVE to work with a broker or reach out to the brand directly and have an actual conversation.
This handy infographic illustrates road ahead in your journey we’ll be taking together to see you to the finish line – either in a business you love or with clarity that franchising is not for you. Either way a win.
Is Now Your Time?
Now close your eyes and picture your dream business. What kind of hours would you work? What type of clientele would you want? How many employees do you want and in what age group? What could you do that would make you feel amazing at the end of the day? By asking yourself these questions, you are helping us to understand your dream business. Our team is excited to assist you with the resources you need to get started on the path to franchise ownership.
Learn more in this complimentary e-book Steps in the Due Diligence Process.