Should I speak to existing franchisees before I sign up?
Thursday, March 8, 2012/
Is it a good idea to speak to existing franchisees of a business when you’re considering whether to get your own franchise?
Yes, it’s imperative you engage with existing franchisees who represent various levels of experience and time in the business.
I would strongly suggest you meet with the longest-standing franchisees to gain a detailed understanding of their journeys within the business and how the franchisor has assisted them to grow their business and support them [and other franchisees] in difficult times.
You should also meet with multi-unit franchisees within the system, to gauge their experience in transitioning from one to multiple stores/regions [as the case may be] and what support the franchisor provided them from a training and mentoring perspective to achieve this.
I would also meet with franchisees who have just opened their first store/region and ask them their opinion on the training and support they received from the franchisor before and throughout their opening.
The range of information and feedback you receive from a series of meetings like this will be invaluable, and will certainly go a long way to you determining the merits and bona fides of a franchise opportunity.
Amantha Imber runs a successful business — but she still has impostor syndrome Amantha Imber Inventium founder
Social media isn't about numbers, it's about connection Carlii Lyon Carlii Lyon PR founder
"My early decisions were rooted in fear": How good hires can set small business owners free Nancy Youssef Classic Finance founder
"No staff turnover": Business success hinges on a thriving company culture David Fazio Mate co-founder
Five ways to mentally prepare for the brutal capital-raising process Stacey Fisher Minnow Designs co-owner
In the age of online shopping, it's retail staff that make or break businesses Cal Doggett Properties & Pathways director