5
Rockstar
Questions
Every First-Time Franchisee Should Ask
Are you thinking of becoming a franchisee but not sure how to find a good fit? If you’re like the majority of franchise prospects, you naturally want to know things like “How much will it cost?” and “How much money can I make?” However, having been a franchisee for 18 years and around franchising almost my whole life, I would recommend going deeper with your questions and check in on the following:
1
Are you passionate about the brand? Your franchise will become like your baby, and if you are not excited about the brand and product or service offering, you are going to get tired of it real fast. You are likely going to be responsible for drumming up business in your local market, so make sure you are passionate about the brand or you will struggle when it comes to bringing in business.
36 The Franchise Woman
2
by Angela Coté
Are you aligned? A sign of a successful company is one that is uber clear on the foundation of why they exist and their core values that drive decision making. Start by lifting the hood on the company’s mission, or sometimes referred to as the company’s “WHY,” and make sure it resonates with you so that you are aligned and set up to succeed. Next, find out what their core values are and what processes are in place to ensure that everyone in the organization lives and breathes these core values. Do the core values sound authentic and do they get you excited?
3
In biz FOR yourself but not BY yourself ! Find out what support systems the franchisor offers. If the response is along the lines of “they have our number and can call us anytime,” this can be a big red flag, as it can mean that the franchisor leaves you to fend for yourself. Most franchisors have the technical support figured out but not every franchisor really understands how to work with their franchise partners to make the relationship feel like a true partnership. Ask the franchisor or franchise partners questions like “How often do we see our field support team in person?” and “What strategies does the company use for helping franchisees build their business and ensure profitability?”
