What Prospective Franchisees Are Looking For

Guest post by: Anne Barr
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Transfers vs. New First Time Franchisees - By Anne Barr

In a recent survey by FRANdata (an independent research company supplying information and analysis for the franchising sector since 1989) the following reinforced what prospects are seeking.

Out of 100 franchise prospects surveyed:

1) 37% said profitability potential was critical. They consider historical financial estimates or projections the most essential information they need to know about a brand. The unit's ability to generate cash is the primary factor in evaluating the brand.

2) 33% said unique characteristics were important - the way the brand conveys its message.

3) Reputation was important to 32% of those surveyed.

4) 12% considered other factors

5) 9% considered personal experience of the franchisor.

6) Sector (industry type) was considered by 7%

7) Investment level was critical to only 5% of those surveyed.

It was agreed that even when franchisors make Financial Performance Representations, the potential franchisee should research and validate with a minimum of 10-15 existing franchisees.

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Transfers vs. New First Time Franchisees - By Anne Barr

About the Author: Anne Barr

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Anne Barr has over 32 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.
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