The research process to buying a franchise is an important one. There are a minimum of 5 questions to ask a franchisor to help you in this process. These questions aren’t the typical questions relating to financials and what you get for your investment.
These 5 questions are ones that could potentially help you to make your decision based on your human needs.
- In what areas do you offer support?
Why – You might be strong in some areas of business, but not others. You need to ensure you’re strong in all
Our answer – We offer support in all areas of the business.
- Are there any existing franchise owners who have come from a similar background?
Why – You can then ask for their story and if you could be put in touch with them
Our answer – We absolutely can match you to existing franchisees in our networks and of course, you can chat with them.
- Do you have a ‘buddy scheme’?
Why – Partnering up with a more established business owner can help you to follow in their footsteps, learn from their mistakes and grow
Our answer – We do!
- Are there any additional training opportunities?
Why – The initial training might not be enough, could be too overwhelming and over too quickly for some
Our answer – Absolutely, we offer continuous refresher and new training opportunities.
- What communal events do you have and do you recognise achievements?
Why – Communal events represent togetherness and recognising achievements fosters motivation
Our answer – We do, large events at least once per year and regional events quarterly. Our awards our annual too.
Through asking the above 5 questions, you’re giving the franchisor the opportunity to respond to your human needs.
If there’s anything else we can help with, most questions have been asked and there’s no such thing as a silly question so ask away.
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