If you are looking for a suitable franchise opportunity as a way to get a start in business, there are a number of factors to consider. There is a simple approach that you can take that may answer any questions that may be worrying you. That approach? Ask franchisees who are already in business for themselves.
You have to pick up a phone book or do an internet search and you’re bound to find franchisees in the neighboring county or state. Naturally, you need to interview franchisees who are operating a franchise that you are interested in. Some of the questions they may be able to answer include:
- Set up and establishment difficulties
- How long it took to make a real profit
- Whether the franchise company delivered what was promised
- The quality of the product
- The depth and quality of the training and follow-up support
There are probably questions of your own that you could add to that list and the answers will give you an overall impression of the franchise opportunity. You will gain an even better view of the franchise opportunity if you can speak to several different franchisees, particularly from within your state.
Is it ethical to talk to franchisees about the business? If you are investing a lot of money into a franchise, it makes good sense that you use every possible avenue to research that business. At the end of the day, if your research is thorough and you’re satisfied that your investment is wise, then you can relax and work on building that business.
