Finding The Right Franchise

Whether its hamburgers, pizza, telecom, coffee, Internet, muffler parts, or seniors services, there are Franchise opportunities available to evaluate. There are great Franchise systems, good Franchise systems, and bad Franchise systems. The challenge is to ask the right questions to find the right system that will fit your goals and dreams. The key is to ask the questions and listen closely to the responses. Only then can you determine if the Franchise opportunity is the right fit for you. So whether its food services like burgers or coffee, professional services like telecom or IT, or manual services like cleaning or oil changes, ask the questions and record the answers.

Face-To-Face Meeting

The system of evaluation for both parties should include a face-to-face meeting. After all, you are trying to determine if you want to get into business together for 5, 10, 15 or more years. If a Franchisor wants you to join the system without a face-to-face meeting, it doesnt really make sense. Would you start a partnership business without meeting your partner? A Franchise is not an actual partnership, but the same criteria should apply. It should actually apply to the Franchisor every bit as much as to you. So if that meeting is not part of the process, the system is incomplete.

There are several ways for the face-to-face meeting to take place. Many Franchisors have development personnel that will meet you in your community, or a convenient location for both parties. Some Franchisors require a head office visit. Others will host Discovery Days, either at their head office or on a regional basis. All of these methods are fine, as long as you have some time for some one-on-one interaction.

I once asked a mentor of mine when our company was first beginning to offer Franchises, about the best method to determine that right match. He said to me that the ultimate test is whether you would be willing to have the person over for a barbeque in your backyard. Of course, there are many other factors, but his point was that it should be someone that you would like to be in business with, and would enjoy their company.

The face-to-face meeting should also include an invitation for your spouse to participate. In fact, some systems require the spouse to be in attendance. Again, it is sensible to include spouses at the discovery stage because the ultimate decision to start a new Franchise business will be focused on building family dreams, and providing family security for the future. If a spouse is not fully aware and comfortable at the decision-making stage, it could create difficulties down the road as you build the business.

The main point is that if a face-to-face meeting is not a part of the process, and your spouse is not welcome to attend, the process is faulty.

To receive a free copy of an E-Book titled Franchise Opportunity Making The Right Decision by Dennis Schooley, email that request to corp@schooleymitchell.com.