How to Choose a Franchise Partner
Posted: Thu Jan 23, 2025 9:17 am
Now you need to create another list. Here you can indicate what kind of partner, in other words, franchise, you plan to find.
The Importance of a Name: Does a Popular Brand Affect Your Partner's Choice?
Importance of experience (number of network points, open and closed, geography of coverage). Do you prefer to cooperate with experienced businessmen or are you open to working taiyuan mobile phone numbers database with novice franchisers?
Importance of knowledge (competence, research, measurements). What evidence of expertise would interest you?
Resources (structure of the parent company, responsibilities, business connections). Does the management company have lawyers, designers, etc.? Is it important for you to use their services at lower prices compared to the market?
Communication (management method, mission, customer focus, community, communication). Is having a common value system with the franchisor important to you?
Franchising goals (planning horizon, methods of network promotion). What are his long-term plans for the next 20 years? Do you perceive his goals as a basis for confidence in the future?
Support strategy . What is the level of activity of the franchisor in providing support to the franchisee? Are there any additional processes after opening? Can the partner regularly provide reports and offer recommendations for improving the branch's operations?
Who is the owner of the company organization. Does it matter to you whether he is known or not?
Who is the best franchisee?
What makes franchisees weak? A negative sign is if the franchisor is not ready to accept his share of responsibility for failures and shifts it entirely to the partner.
What are the reasons for choosing a franchise rather than building a business from scratch?
What happens if things don’t go according to plan? How is the franchisor prepared to handle the situation if actual figures do not match the financial model forecasts? How will the owner react if you, the franchisee, need to leave the country urgently? Will temporary operational support be provided for the outlet? What happens if the legislation in the field changes? Does the franchisor have a “Plan B” to ensure the stability of the outlets or a quick response to changes?
It is important to get answers to these questions before making a decision to purchase a franchise business.
The Importance of a Name: Does a Popular Brand Affect Your Partner's Choice?
Importance of experience (number of network points, open and closed, geography of coverage). Do you prefer to cooperate with experienced businessmen or are you open to working taiyuan mobile phone numbers database with novice franchisers?
Importance of knowledge (competence, research, measurements). What evidence of expertise would interest you?
Resources (structure of the parent company, responsibilities, business connections). Does the management company have lawyers, designers, etc.? Is it important for you to use their services at lower prices compared to the market?
Communication (management method, mission, customer focus, community, communication). Is having a common value system with the franchisor important to you?
Franchising goals (planning horizon, methods of network promotion). What are his long-term plans for the next 20 years? Do you perceive his goals as a basis for confidence in the future?
Support strategy . What is the level of activity of the franchisor in providing support to the franchisee? Are there any additional processes after opening? Can the partner regularly provide reports and offer recommendations for improving the branch's operations?
Who is the owner of the company organization. Does it matter to you whether he is known or not?
Who is the best franchisee?
What makes franchisees weak? A negative sign is if the franchisor is not ready to accept his share of responsibility for failures and shifts it entirely to the partner.
What are the reasons for choosing a franchise rather than building a business from scratch?
What happens if things don’t go according to plan? How is the franchisor prepared to handle the situation if actual figures do not match the financial model forecasts? How will the owner react if you, the franchisee, need to leave the country urgently? Will temporary operational support be provided for the outlet? What happens if the legislation in the field changes? Does the franchisor have a “Plan B” to ensure the stability of the outlets or a quick response to changes?
It is important to get answers to these questions before making a decision to purchase a franchise business.