Bill’s Franchise Story – Part II
The Franchise story continues about Bill, a franchise and his mother. Previously, Bill, my client had followed all the steps for finding the right franchise for him. He completed the online assessment and completed the questionnaire.
We spent 30 minutes understanding what interests him and what categories of franchises were of interest. Bill and I talked about his skill set, types of businesses he has thought of and his investment range. But, more importantly, we talked about what he really likes to do each day and what motivates him. Without someone asking the right questions, it is hard to really know what motivates each of us. This is where Right Franchising provided value with our experience and focused approach.
Here is what we discovered together:
- Bill loves to help people.
- He has great organizational skills.
- Bill needs a business that is flexible with his work schedule and family.
- He wanted a business that was a niche business with little competition.
There was more but you get the idea! It is all about asking the RIGHT questions and a targeted strategic search. My team spent four days searching franchises and business opportunities that fit Bill’s criteria and investment range. We also made sure that the territory was available for each franchise or business opportunity selected.
Now, for the fun part of what Right Franchising does: I presented four good solid franchises that matched Bill’s criteria in every way. This four was narrowed down from hundreds of franchises that either did not fit or were unavailable in Bill’s area. We save our clients time, money and frustration with our targeted strategic focused approach.
We talked about the pluses and minuses of each franchise. We also talked about his vision about how each franchise would work and what his day-to-day would be like. He was excited about two of them because he liked them and wanted his family, particularly his mother, to be a part of the business. They both have respect and regard for each other and felt they could work together comfortably.
So, now, we have four solid franchises that fit Bill’s criteria and investment range. Each is successful and we are ready to evaluate them. So, how do you evaluate a franchise? Look for Part III entitled “Due Diligence”.
If you would like to take my online assessment which helps you learn what types of businesses may fit you, please click on the assessment link.