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our Franchise option
Everything you really need to know when looking for a
Your Values
Leaving aside the desire for money, what else matters to you? What excites you? What are you proud of? What kind of lifestyle do you want? Before you look outward for opportunities, look inward for the values that are most important to you.
Selectivity
Is the brand selective about who they sell to or will they welcome anyone who is financially qualified? You are not simply selecting a business. You are also choosing your partners. That includes other franchisees.
Royalty Dependency
In addition to initial franchise fees, most brands generate revenue by charging a percentage of each franchisee's sales, 5 to 6% on average. Some make a profit by selling supplies to franchisees. Others collect rebates from required providers.
Validation calls
This is your opportunity to talk to existing franchisees. Franchisors will probably give you a few names to fall back on. Like all referrals, they are probably franchisees who you know are satisfied. Try connecting with a few other people to get a broader perspective.
Room for expansion
The real money in franchising is in managing multiple territories/locations. As much as you want to avoid failure, you also want to plan for success. If your first business does well, you'll probably want to expand.
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