One of the best ways to see if a franchise you're considering will be a good fit for you is to talk to existing franchise owners. You can usually find a list of current and previous franchisees in the Uniform Franchise Circular Offering (UFOC) which the franchisor should provide you with copy.
Just start calling the people on the list. Tell them that you're interested in purchasing a franchise and would like to talk to them about the experience with the company. Some will speak with you right then, others will call you back, some you won't speak to at all.
Asking them the following them the following questions will ive you a good starting point in determining if the franchise right for you.
1. How long have you had your business?
2. Is your business growing as planned?
3. Was the training the franchisor provided helpful in getting you business off the ground?
4. Is the franchisor responsive to your needs?
5. Have there been any problems you didn't anticipate?
6. What conflicts (if any) do/did you have with the franchisor?
7. Has your experience proved that the investment and cost information in the UFOC are realisiic?
8. Were there any hidden expenses?
9. What is the biggest downside you have found with this business?
10. Tell me about a typical day running your business.
11. Knowing what you know now, would you make this investment again?
This should give you a general idea whether this franchise will be the right one for you. It will also give you an idea of how the franchisees feel about the business.
Article Source
Posts
0 comments
Post a Comment