Choosing the Right Franchise for You

by Steve Hearon

Once you have done the self reflection and analysis necessary to determine if business ownership is right for you, and, you've chosen to go the route of franchising rather than go it alone, you are still left with a final, very large decision - which franchise should you choose? There are literally thousands of options to choose from. Some franchisors have been around for more than 50 years, others started this year, and everywhere in between. What matters most is that you choose the opportunity that is right for you, based on the following criteria:

1) You believe in the brand - clearly there is no point investing your hard earned dollar into a brand that you don't think increases your ability to generate leads and separate yourself from the competition in the marketplace. Has the brand been invested in overtime and is the perception in the space a positive one in consumer and potential employees' minds?

2) You believe they will adequately train you on their proven systems - any quality franchisor has systems they have developed over time that they know work. Will you be expected to learn them from a manual or is there a strong training program in place to teach you what you need to know to get your business off the ground and be profitable over the long haul?

3) You believe in the management team and their vision for the organization - the management team sets the course for the company in numerous ways: they devise the strategy, they hire the people supporting you, they ensure those people hold to the company core values, and they set the pace at which change can occur. Are they experts in the field? Are the credible? Are they passionate? Do you have confidence that they will make good decisions at the 30,000 foot level?

4) Your day to day activities as a franchisee line up with things that you are good at and that you enjoy doing. If you are a technical person, or a numbers person, and introverted, you may not want to be in a franchise that requires you to do all the selling and customer service. On the flip side, if you have never lead people in the past, and your new franchise requires you to lead a team or teams, this may not be the best fit for you.

5) You feel like you would enjoy the culture of the organization. Is it a culture of learning? Competition? Fun? Hard work? Is there a strong relationship between the franchisor and the franchisees? Most franchise agreements are for 10 years or more, you better make sure you like the people in the organization (both franchisees and corporate staff) or the marriage may not work despite the potential of the business model.

How do you get the answers to all of these questions? It requires true due diligence, the most important aspect of which is: SPEAK TO THE FRANCHISEES IN THE SYSTEM. There is really no better way to ascertain fit. The people who are living the dream you are pursuing hold the most accurate answers to your questions. Any quality franchisor will encourage you to speak to as many of their franchisees as you'd like to before moving forward.

Steve Hearon
VP of Development
CertaPro Painters

Learn more about CertaPro Painters at topfranchises.franchisebusinessreview.com.

Log in to leave a comment. If you're not an FBR member yet, click here.
Email:
Password:
	Keep me logged in
Comment:

You must register to post a comment. Registration is quick & easy. If you are already an FBR member, click here.
First Name:
Last Name:
Email:
Password:
Confirm Password:
Receive updates, notifications and special offers from Franchise Business Review
Comment:
Verification:	[ New Image ]