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How to choose the right franchise for you

Written by: Suzanne Donald

Article Overview: Finding the right franchise can be a daunting task, however, if you approach it systematically you should easily be able to arrive at a short list of suitable opportunities. It’s a question of matching the skills and type of experience required to run a franchise with what you like doing, and are good at. Usually what you’re good at will tend to be what you’re best at!

How to choose the right franchise for you

Finding the right franchise can be a daunting task, however, if you approach it systematically you should easily be able to arrive at a short list of suitable opportunities. It’s a question of matching the skills and type of experience required to run a franchise with what you like doing, and are good at. Usually what you’re good at will tend to be what you’re best at!

In many cases it’s worth remembering that franchising can allow you to work in an industry where you’ve had no previous experience. However, before you look at any specific industry sector, you should consider the way you want to develop your business, for example do want to run a single unit franchise opportunity or do you want to develop an area or a region.

You should then look at your previous achievements and experience, are you good at managing people? Good at selling or are you good at working with your hands creating or fixing things? This will determine the franchise type most suited to you.

Franchisors are very clear in what kind of partners they are looking for – you should also be clear in your mind what franchise opportunities match your needs and skills. It is only now that you can select a suitable industry as some franchisors would be looking for franchisees to carry out their specific tasks like driving or cleaning, whilst others will expect the franchisee to employ and manage the staff to carry out the daily tasks.

Addressing the following areas should help with your research:

What type of experience do you have?
• Identify the skills you have developed over the years in order to ensure the franchise you chose fits your skills and experiences.
• Have you managed staff? Many franchisees are geared to a franchise employing many staff with managed skills.
• Have you been involved in administration? Many franchise systems involve extensive administration work therefore it would be beneficial to have some experience in this area.

What would you like to do?
• Note down your strengths and weaknesses, this will give you a clearer idea of the type of work you would be good at and enjoy doing?
• Do you want to work in a shop?
• Do you want to work in an office?
• Do you want to be mobile, i.e. out and about?

What do you enjoy the most?

• Talking on the phone?
• Motivating people?
• Working with your hands?
• Driving?

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  Steps to a Successful Franchise Experience
  10 Tips for selecting the Best Franchise
  Making the Most of Your Franchise
  Can a Coffee Franchise Secure Your Future?

Article Tags: administration work, daunting task, experiences, franchise opportunities, franchise opportunity, franchise systems, franchise type, franchisee, franchisees, industry sector, managing people, single unit, suitable opportunities, worth remembering that



Related Forum Posts
Re: Franchising Brokers vs Franchising Consultants - I don't think you can really prevent this from happening but you must certainly be careful when you choose your franchise broker. My suggestion would be to talk to a broker from a reputable network such a FranChoice or FranNet. These people are good people. I guess you can tell right away if the broker is trying to get you to buy a specific franchise. If he tells you right off the bat that you "have to" buy XYZ franchise, well, to me it sounds like he's trying to "scam" you. On the contrary, if he really listens to you, really consult you and try to find out what's best for you, you will probably be able to tell. When I worked for Franchise.com, we had a brokerage unit called FranFit. The beauty of FranFit was that we were paid the same commission by the franchisor, whatever his industry or franchise fee. This way, there was no incentive for us to match a potential franchisee with a franchise or another. We were truly leveling the playing field and really looking for the right franchise fit for the buyer AND the seller.
Re: Kevin's Case Study #6 - Marketing an information resource? - Hi Sebastien, I'm wondering about two things: 1) What is your current revenue model? 2) Why would franchise owners choose to sign up with you over the lead generation companies? Is there some kind of quality control certification that you could award them to say that they are a World Franchising certified franchise? I'm not clear on what benefits a company seeking to franchise would really get from your site beyond the lead generation component.
Re: Which franchise would you buy? - I like franchises that I have a personal interest in. I know this sounds redudant, but you hear about people who think they are going to invest in one franchise (or franchise industry), only to go a completely different direction after researching and gathering info. Personally, I like home service franchises - most of these are either mobile or home based (or both) and usually have relatively low start up costs (and there are many many to choose from across the industry).
Hello I am a franchise expert - Hello, I recruit franchise owners for successful franchise concepts based in the USA. Many of my franchises are looking to expand north to Canada in all major centers. I enjoy networking and answering questions about franchising. If anyone is interested in the franchise world or looking to buy a franchise then contact me. I have a wealth of information and like to help. Thanks for your time. Michael Somer
Re: Franchising Brokers vs Franchising Consultants - Franchise consultants are free and work with you without any obligation. they do not work for any one franchise but do get a percentage of the franchise fee when a franchisee that was registered with the franchise came from the consultant and the franchisee signs. They will try to match up your interests and skills to franchise businesses that are right for you. They can explain franchise guidelines and help you in any way they can. Franchise brokers usually get paid by the client and/ or franchise (generally get some type of commission). Additionally, they can get points or referral fee off the deal if they refer you to a lending resource too after they sell you on a franchise. Typcally they will try to sell a prospective franchisee on a larger deal so they get a larger commission.


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