| Okay, so you've been investigating a franchise | | | | even point? |
| opportunity that has you both eager and excited at the | | | | 4. Were opening costs consistent with the original |
| prospect of becoming an entrepreneur. Your franchise | | | | projections? |
| consultant has discussed the business in depth with | | | | 5. What was your background prior to buying your |
| you, including your role as a franchisee, the financial | | | | franchise? |
| requirements, skill set needed, and you've been | | | | 6. Are you satisfied with the franchisor's support? |
| introduced to the franchisor. You have received a | | | | 7. Are you satisfied with the product or service? |
| copy of the UFOC, which you have carefully | | | | 8. Is the operations manual clear, up-to-date and |
| investigated with an advisor. Your family is behind you | | | | adequate? |
| 100%. So far, everything looks great! What's next? | | | | 9. Are you satisfied with the marketing assistance |
| A very crucial next step in the process of selecting | | | | given? |
| the right franchise is to call some current franchisees. | | | | 10. Was the initial training and ongoing support |
| The franchisor will openly provide you with a list of | | | | sufficient? |
| franchisees, and it should be a diverse list, meaning, for | | | | 11. Is the franchisor fair and friendly to work with? |
| example, that your list will consist of 5 of the | | | | 12. Does the franchisor listen and help you with your |
| franchisors top producers in sales, 5 average | | | | concerns? |
| producers, and 5 bottom producers. Keep in mind that | | | | 13. Have any franchisees had disputes with the |
| there are many factors and variables for the answers | | | | franchisor? |
| you receive. For example, if a franchisee is currently | | | | 14. If so, what was their nature? Were they resolved |
| on the lower end in terms of sales for that franchise, it | | | | fairly? |
| could very well be that way because the franchisee | | | | 15. Do you know of any disputes with competitors? |
| just opened their location a month ago. | | | | 16. Who are the major competitors? |
| This list is extremely valuable to you, the potential | | | | 17. What is the company's biggest competitive |
| franchisee, as you are able to solicit answers to key | | | | advantage? |
| questions from franchisees that are currently | | | | 18. What is the company's biggest competitive |
| conducting business in the franchise you are | | | | disadvantage? |
| considering. Usually, you'll receive the most "raw", | | | | Satisfactory answers to the above set of questions |
| honest, un-edited feedback from franchisees, which is | | | | may very well put you on the road to franchising with |
| invaluable in assisting you in your decision making | | | | a company that is not only in line with your values, but |
| process. | | | | will also enable you to attain the lifestyle you've |
| That being said, lets review some key questions that a | | | | dreamed of for you and your family. |
| potential franchisee should ask a current franchisee. | | | | Register for your Free Franchise Consultation. The |
| 1. How long have you owned your franchise? | | | | Franchising Authority will help you find your perfect |
| 2. Is your franchise profitable? | | | | franchise. |
| 3. How long did it take to reach your cash flow break | | | | |