Part III: Evaluating a Franchise Opportunity
Right Franchising presented four solid secure franchises that fit Bill’s criteria, investment range and his passion for a business.
Next step: Evaluating the franchises that are a good match for Bill.
So, how do you evaluate a franchise? Most people find this a daunting task and one in which they have little or no experience.
Let’s take it one step at a time:
Step 1: Learn More About Your Preferred Franchise
Right Franchising will schedule a call with the right person for each franchise. This will help us take a deeper dive into the details of each franchise.
Have you thought about the questions you should ask of each franchise? Right Franchising suggests the following:
- What is unique about the product and services this franchise offers?
- What are the long term goals & growth strategy of your company?
- Tell me about how you will help me attract customers or clients.
- Tell me about the training and help in the field I’ll need.
- How much working capital will I need? What do you suggest?
Step 2: The Franchise Disclosure Document.
Some of my clients refer to this as a good “door stop” document. You will receive a federal document that has some great information in it but it is “HUGE.” Most can be anywhere from 300 to 800 pages or more!
So, how do you take a bite out of this part of the elephant?
Next month, we will discuss Step 2 of evaluating a franchise —The Franchise Disclosure Document. I will show you the best kept secret about how to quickly go through this document and get the information you are seeking.
To find the right franchise for you and make an informed decision, please email Gayle@RightFranchising.com for a free consultation.