You’ll be working with your chosen franchisor for many years to come so you’ll want to be sure you can develop a successful relationship. Here are a few things to look for when selecting your franchise opportunity.
Trust and transparency
Ultimately, for any business relationship to work to its full potential, there needs to be trust and openness. When you meet with prospective Franchisors, do you feel integrity, honesty and sincerity? Do you feel that the Franchisor will work with you in an open and genuine way with sincere and impartial advice?
Support
One of the main reasons for investing in a franchise is due to the number of experts at hand to help you build and grow your business. The support team needs to include experts in various fields such as Marketing, Business Development and Operations, as well as a large support structure for day-to-day guidance, support and advice. Ask your potential Franchisors their ratio of support staff to franchise owners to gain an understanding of how much time the team will have for your individual needs.
Do they run multiple events throughout the calendar year for Franchise Owners to network with each other? Do they offer a Training Academy that runs multiple events throughout the year on timely and relevant subjects? What other training is put on for continual development of you and your team?
The support provided by a franchisor plays a vital role in the success of franchisees. It helps them navigate the challenges of starting a business, accelerates growth, and minimises risks by leveraging the franchisor’s expertise, resources, and established brand presence.
