Questions

A franchise offers the independence of small business ownership supported by the benefits of a large network. A franchise system's proven method reduces your risk, allowing you to be in business for yourself but not by yourself.

  • Are you good at following a system?
  • Can you see yourself coaching/mentoring employees?
  • Do you want to manage a large team, small team, sole proprietorship or does it not matter)?
  • Do you have the support of family of friends? Starting a franchise is typically a large commitment, especially during the first year.
  • Do you prefer a retail location, an office setting or a virtual business?
  • What type of support do you need most? (ie. Book-keeping, HR, sales, technology)
  • Many franchises require a full time commitment. Do you prefer to work full-time, part-time or do you seek a semi-absentee franchise model?

How much do your services cost?

There is no cost to you for my services. Much like a real estate transaction, the seller will pay a fee. Franchise companies pay a fee if they feel you are good fit for their brand and you wish to own the business.

How can a franchise consultant help me?

A franchise consultant help assess your business interests and strengths. Equally Important is to consider your weaknesses or the type of work you may want to avoid. A franchise consultant can expedite the process of identifying which businesses are available in your area and also help avoid mistakes.

Why does franchising make sense for me?

Owning a franchise is ideal for someone who aspires to own a business but doesn't want all the risk of being on their own. In exchange for a fee, a franchise gives you a proven model along with the ongoing training and support to help make your business successful year after year.

What steps do you take to find the right business for me?

The process begins with a detailed conversation about your experience and business interests. Next is a brand presentation where you consider brands that match your criteria for business ownership. Next you start a conversation with franchise brands align with your goals. If you there is mutual interest between you and a franchisor, the complete review process can take one to three months before beginning your new company.

How long does the process take?

Reviewing franchises can one to three months. As you move through the process, you should plan on spending at least two hours pers week on your search.

  • What is the franchisor support & involvement for the first year? After the first year?
  • Who is your competition and where does this company fit in and compare to the competition?
  • What franchisees have succeeded at a faster rate than average and why? (what is average)
  • What franchisees have failed in your system and why?
  • What is a realistic timeframe of working capital I need?
  • What territory or how many locations do I need to insure I get my “need” income of $xxx and my “want” income of $xxx? (they may not answer this question due to earnnings claims, but still good to ask!)
  • What are the day to day responsibilities of the franchisee? What does a typical day look like?
  • If I want to continue, will you provide me a list of names of franchisees in your system with similar demographics to my area, similar background to mine, and a variety of time in the business?(you can call ALL franchisees, but get the initial list from them so you talk to those with similar goals to yours)
  • Are their internal funding options for this business? If not, have any of your franchisees received funding from the SBA or other business loan sources?
  • Is the franchise transferable? Have you had franchisees sell their business?
  • How long have you been in business?
  • What do you like best about this business?
  • What do you like least about this business?
  • How is corporate support with respect to training, planning, marketing and general operations?
  • What were you doing for work before this business?
  • How many hours do you as an owner work per week?
  • What were your gross sales/revenue for year 1, year 2, and now?(they may not want to answer this initially, but once they know you are serious, they usually do)
  • Would you do it again?

Successful people do the things unsuccessful people are unwilling to do

We make the process of business ownership easier by helping you find a franchise that fits your lifestyle as well as your professional and financial goals.

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