What to watch out for when buying a franchise

Making the leap and buying a franchise is a brave and exciting thing to do

Making the leap and buying a franchise is a brave and exciting thing to do. However, to make sure that you make your new business venture a successful one, you need to fully understand the critical role that training and support from your franchisor play. This essential jigsaw piece can be the difference between sinking and swimming. When considering potential franchise opportunities, scrutinise the level of training and support provided by the franchisor.

A franchisor’s commitment to your success should be evident from the very beginning. Don’t be afraid to ask what training provisions and ongoing support the franchisor will provide you with. They are a fundamental aspect to look for. Training should cover all aspects of the business, from operations to marketing and customer service to ongoing business growth and goal setting. In addition, ongoing support must be available to address your evolving needs and challenges as you start to build and scale your location(s). An exceptional franchisor will offer access to regular support calls, resources, and a network of fellow franchisees. This means that you are able to learn from and collaborate with others who are walking the same path as you.

Open communications with your franchisor’s head office team is paramount. Open lines of communication ensure that your concerns and ideas are heard and addressed promptly. You should be able to access transparent guidance in areas such as site selection, marketing strategies, and operational best practices. The success of the franchise brand as a whole is directly linked to the success of its franchisees, so it is in the franchisor’s best interests to be genuinely invested in your personal and professional growth to make sure you are set up for success.

Choosing the right franchisor who aligns with your values and has a track record of supporting their franchisees with a strong commitment to training and support is critical making the right decision. Seek out a franchisor that provides comprehensive training, ongoing support, and has systems in place for an open and collaborative relationship with their franchisees. With the right franchisor by your side, you’ll not only be equipped with the knowledge and resources necessary for success, but you’ll also enjoy the peace of mind that the brand is in safe hands.

Jo Middleton
Jo Middleton