When you research buying a franchise, one of the most important parts of your due diligence process is asking the Franchisees questions. Franchisors provide you with names of past and present Franchisees of their system as well as their contact information.
Questioning the Franchisee is about so much more than asking if they are happy with the franchise and the business. It’s talking to the people who are working in the business, the business that you are looking to invest in, and digging into the benefits and issues that they – and you will – face every day. It’s analyzing the system beyond the obvious and finding out if the business will fit your lifestyle and goals.
In addition to questioning the Franchisees, you can access surveys from independent third parties that will provide insight into the franchise system. They ask all Franchisees in a system the hard questions about support, financial opportunity and the relationship with the franchise. These findings will provide great insight into the franchise system and whether or not it is a good system for you to become a part of.
Due diligence is the most important part of your purchase process. You want to make sure you are making the right investment for you, your family and your future. Talking with the Franchisees and learning about their experiences are a pivotal part of the process.
There are a few difficult things in this world that we all experience, regardless of country and culture. These are wars, pandemics, and economic hardships. And though these make for tough times - throughout history, we have overcome them each time. As the economy starts to slow - both here in the US and globally, […]
Ask anyone where they buy their goods from, and the chances of them answering “Amazon” is pretty high. The commerce landscape has dramatically shifted towards online marketplaces, with Amazon as the undisputed leader. This titan of e-commerce has reshaped how we buy and sell globally. Amazon's appeal stems from its vast product range, unmatched customer […]
One of the things people are often fearful of when becoming business owners is current market conditions. With the news blasting fear in everyone’s ears, it’s no wonder many Americans are scared to take a risk on themselves and entrepreneurship. Understanding this reality, we wanted to get a first hand look from a US Economist […]
