WHAT YOUR FRANCHISER SHOULD BE ABLE TO PROVIDE
When you are looking for a franchise opportunity, being able to spot a strong franchiser is important.
One of the most enticing reasons to buy into a franchise is the support the franchiser is able to offer. But just like any other industry, differences exist between organizations, and learning what to look for when shopping for a franchiser will be invaluable. Good franchise organizations offer a wide range of support, while weak ones do not. Whether it’s offering new buyers lengthy and detailed training or having access to franchisee owner organizations, finding a good support structure is a good sign the franchise is doing well. Here is a list of a few things you can look for when trying to determine if the franchise you’re interested in is committed to supporting new buyers.
1. Training. It goes without saying that a new franchise will have to have employees that know what to do. Franchisers always train new franchisees, but there is a wide range of training styles. From simple manuals to expensively produced DVD’s to seminars and in-person sessions, knowing how the franchiser trains new buyers is important. A strong training program is a good sign, while a weak one doesn’t bode well.
2. Site preparation. Whenever a new franchise sets up shop, well…it needs a shop. Your franchiser should be able to help you scout a good location or at least give you advice on what kinds of sites you need to look for. Help with securing the lease or getting specific terms is also possible. You can expect to get details on fixtures and equipment that need to go into the site, and maybe even help securing contractors to put them in.
3. Marketing. The hallmarks of a good marketing plan are details. Your franchiser’s marketing plan should be able to lead you through the steps you need to take and what advertisers you should use. A superb organization may even secure the advertising on your behalf.
4. Availability. As you never know when a problem will arise, your franchiser should be open to communication whenever you need them. That doesn’t necessarily mean a 24-hour hotline, but being able to talk to organization executives and support staff is important. Also, if the franchise has an owner association or advisory committee that you can join, this is a good sign. A strong franchise usually has owners who are able to talk to one another freely and openly, without having to hide anything from each other.
5. Complete agreement. A strong franchise agreement is one that leaves nothing unsaid. Territory, rights, duties, fees and everything else need to be spelled out and fully detailed. However, don’t let the length of a franchise agreement fool you. The details of the agreement need to be specific and clear, not just long. Having a franchise specialist look over the franchise agreement is always advisable, as they’ll know how to spot the differences between a long agreement and a complete agreement.
What support should you get for your franchise - To learn more about this author, visit Ian Macleod's Website.
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Ian Macleod
(Visit Ian's Website)
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