Franchisee checklist - assessing the business type
Franchisee checklist - assessing the business type
1. Is this a genuine business format franchise? (It could be a product distributorship or agency which is not really a franchise but is promoted as a business format franchise and should therefore be treated with caution).
2. Has the franchised business been thoroughly proven in practice?
3. If it is an overseas franchise how successful has it been in its own and other markets?
4. Is there a strong, distinctive trade name associated with the product or service?
5. Is there an awareness of the brand in the country or state in which you want to locate it?
6. Are the franchise's prices competitive and can this competitiveness be maintained?
7. Is there adequate back-up in terms of guarantees and service facilities?
8. Is the product or service new?
9. If there are competitors, has the product or service any distinct advantage over theirs?
10. Are the products produced by a patented method or is the service based on an exclusive process?
11. Is the product/concept defendable, ie how vulnerable is it to imitation and/or competition?
12. Is the source of supply of products or materials guaranteed in the future?
13. Has the product or service and general business concept long-term market appeal or could it be a passing fad or fashion?
14. If the franchise is being newly imported from abroad will it hold a similar appeal in your market? Has it already been tested there?
It is important when you are assessing a franchise operation not to simply accept that financial results or projections from one area will automatically be repeated in your chosen location. A franchise that works well in Chicago or London may not be successful in Sydney or Toronto. Carry out your own market research to satisfy yourself before making the investment.
Franchisee checklist assessing the business type - To learn more about this author, visit Diarmuid Kieran's Website.
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The franchise
1. Is this a genuine business format franchise? (It could be a product distributorship or agency which is not really a franchise but is promoted as a business format franchise and should therefore be treated with caution).
2. Has the franchised business been thoroughly proven in practice?
3. If it is an overseas franchise how successful has it been in its own and other markets?
4. Is there a strong, distinctive trade name associated with the product or service?
5. Is there an awareness of the brand in the country or state in which you want to locate it?
6. Are the franchise's prices competitive and can this competitiveness be maintained?
7. Is there adequate back-up in terms of guarantees and service facilities?
8. Is the product or service new?
9. If there are competitors, has the product or service any distinct advantage over theirs?
10. Are the products produced by a patented method or is the service based on an exclusive process?
11. Is the product/concept defendable, ie how vulnerable is it to imitation and/or competition?
12. Is the source of supply of products or materials guaranteed in the future?
13. Has the product or service and general business concept long-term market appeal or could it be a passing fad or fashion?
14. If the franchise is being newly imported from abroad will it hold a similar appeal in your market? Has it already been tested there?
It is important when you are assessing a franchise operation not to simply accept that financial results or projections from one area will automatically be repeated in your chosen location. A franchise that works well in Chicago or London may not be successful in Sydney or Toronto. Carry out your own market research to satisfy yourself before making the investment.
Franchisee checklist assessing the business type - To learn more about this author, visit Diarmuid Kieran's Website.
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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