So you’re in the market for a franchise opportunity, before you know it you are swamped in brochures and opportunities and struggling to make sense of it all. Here’s a handy checklist to help you sort the wheat from the chaff and find a franchise that suits you (recommend using this as a checklist and sorted your options into pro’s and con’s.
- How long until you get your initial investment back? Some franchisees take many years to get a return on investment, make sure you run your numbers and plan for your future with this in mind.
- How quick can you make returns? How long with it take you to be profitable from open?
- How much can you do to drive revenue and growth? Some models are very stuck in their ways others allow more creativity.
- What is the support like? Are you fully supported or fully left alone? There are franchises running both models.
- Owner Operator or Investor? Are you looking to run the business hands on or from afar?
- How built out is the system? Do they have high quality support and systems in place to run a great business. Their operations will make or break your customer’s experience.
- What is there track record? Do they have numbers on the board for time in business, successful franchisees etc?