What Information Does the Franchisor Want About Me?
What Information Does the Franchisor Want About Me?
Why does a franchise need all this information about me?
Easy. Not all franchises are for all people. In fact, owning a franchise period is not for everyone. All franchises are different and require different types of people to run them. Different personalities, skill sets, experience, goals and of course financial positions. Finding the right owners and operators is just as critical to a franchisor as choosing the right franchise is to you. Both parties are facing significant risks with each new franchise.
"But I'm the only one investing any money so I'm the only one taking a risk" - Not true!
While franchises do incur significant costs with each new franchise developed it is true that you the investor is the one that actually lays out most of the cash for your franchise but the success or failure of your franchise will have an impact on every other sister franchise across the country. With each transaction you are not only representing yourself and your franchise, but the entire brand and all it's franchises. If you receive bad service from a business that happens to be a franchise you generally assume that all of those franchises give the same level of service.
To this day there is a certain fast food restaurant that I won't set foot in based on 1 single experience from 1 meal in 1 single franchise. Because 1 of thousands of franchises failed to maintain a certain standard it has damaged the reputation of everyone of it's locations. Now that's a pretty strong example, but it demonstrates the point.
In addition to a customer's point of view, your success or failure with a given franchise will impact the overall perception of that franchise as a business opportunity. A franchise with many success stories sounds like a better investment than one with many stories of failure. It's important that franchises find people who resemble the types of people behind their successes.
So - when you start your franchise information research and quickly learn that most want as much information about you as you do they - don't be surprised and don't take it offensively. They just want to make sure they have the right fit and that you are someone who could potentially succeed with their particular unique system. When you do finally find your perfect franchise opportunity you will be grateful that they use the same scrutiny in developing future franchises to protect what is now, partly your brand.
What Information Does the Franchisor Want About Me - To learn more about this author, visit Ken Hollowell's Website.
Like this article? Share it with your friends
 |
Free Download - WHAT YOU NEED TO KNOW Series 2 |
When you request more information on a franchise, or meet with a franchise consultant they will generally all want a great deal of information about you. Half of it can seem like a job application and the other half more like a bank loan, but try not to let it worry you as it's something we all have to do and for the most part, you will be dealing with professionals who respect your privacy.
Why does a franchise need all this information about me?
Easy. Not all franchises are for all people. In fact, owning a franchise period is not for everyone. All franchises are different and require different types of people to run them. Different personalities, skill sets, experience, goals and of course financial positions. Finding the right owners and operators is just as critical to a franchisor as choosing the right franchise is to you. Both parties are facing significant risks with each new franchise.
"But I'm the only one investing any money so I'm the only one taking a risk" - Not true!
While franchises do incur significant costs with each new franchise developed it is true that you the investor is the one that actually lays out most of the cash for your franchise but the success or failure of your franchise will have an impact on every other sister franchise across the country. With each transaction you are not only representing yourself and your franchise, but the entire brand and all it's franchises. If you receive bad service from a business that happens to be a franchise you generally assume that all of those franchises give the same level of service.
To this day there is a certain fast food restaurant that I won't set foot in based on 1 single experience from 1 meal in 1 single franchise. Because 1 of thousands of franchises failed to maintain a certain standard it has damaged the reputation of everyone of it's locations. Now that's a pretty strong example, but it demonstrates the point.
In addition to a customer's point of view, your success or failure with a given franchise will impact the overall perception of that franchise as a business opportunity. A franchise with many success stories sounds like a better investment than one with many stories of failure. It's important that franchises find people who resemble the types of people behind their successes.
So - when you start your franchise information research and quickly learn that most want as much information about you as you do they - don't be surprised and don't take it offensively. They just want to make sure they have the right fit and that you are someone who could potentially succeed with their particular unique system. When you do finally find your perfect franchise opportunity you will be grateful that they use the same scrutiny in developing future franchises to protect what is now, partly your brand.
What Information Does the Franchisor Want About Me - To learn more about this author, visit Ken Hollowell's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
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 |
|||
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 |
|||
|
For an online Car Loan Calculator and finance for a cheap car loan. Get approved on car loans or car finance in Australia with cheap bank car loans and finding a car finance broker. Commercial car loans including business car finance and car lease. Car Loan Calculator has information on finance companies and getting the right cheap car loan from banks at best car loan rates and a online car loan calculator for all finance in Australia. Get the best car finance with our help at Car Loan Calculator and Finance Ezi. - Visit Richard Jefferies's Website |
|||
Staging DivaDebra Gould, aka The Staging Diva®, is President of Six Elements Inc., an internationally recognized home staging company. Inspired by many requests from aspiring home stagers wanting to start similar businesses, Gould created the Staging Diva Home Staging Business Training Program. Gould has trained over 1000 Staging Diva Graduates worldwide to start staging businesses. Buying decorating and selling six of her own homes in four years lead to an interest in real estate staging which she turned into a career with the launch of sixelements.com in 2002. Since then she has staged hundreds of homes in addition to teaching home staging training. Gould is the author of several home staging resources including a series of popular ebooks made up of a Design Guide, Color Guide and Portfolio Guide. For more information about Debra Gould visit stagingdiva.com. - Visit Staging Diva's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
|  |
Subscribe to Ken's articles
 | |
|
|  |
 | |
|
| |
 | |||||||
|
 | ||
|
||
|
||
 |
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 Working From Home The Leader’s Edge Human Potential Institute Optimus Performance Reference Check Form |
|
 | ||
 |
Email The Reporters
Press Release Builder | |
 |
Top 50 Blogs For Startups
Top Blogs To Watch In 2008 | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
