The amount of support you can count on once you’ve purchased a franchise of your own will be a critical piece of your future success. That’s why franchisors go out of their way to tout their proprietary guidance programs. They know that if you don’t succeed, neither will they—in the long run, at least. Still, it’s important to know what type of a network you’ll be relying on once you open the proverbial doors to your own entrepreneurial journey.
First and foremost, there is no one-size-fits-all support network with franchising. The level and commitment of franchisor support can actually vary quite widely and it’s important to do your due diligence and get specific with your questions. There’s also validation—the process of speaking and interacting with existing franchisees already in the system. You should think of this opportunity as a living, breathing Yelp Review. Come prepared for this conversation with existing franchise owners, which may occur in person or over the phone.
We also encourage you to talk with previous franchisees of that system. Ask them why they got out? What type of support did they receive? Would they do it again if they had the cahcne?
The best way to arm yourself with expectation of franchise support is to read, analyze, discuss and question your official franchise agreement. Because what franchisors are and aren’t willing to do in terms of supporting their franchisees must be contained therein. To wit–if they are required to supply each franchisee with a 10’ x 8’ full-color banner which advertises the business and its operating hours, they better deliver one by opening day.
Major factors of franchise support are, for the most part, uniform. You should easily be able to find information related to site selection or real estate location, the amount of training offered to new franchisees and marketing/advertising concerns. It’s your job to ask the franchisor to spell out the specifics of each section. Don’t be afraid to ask nit-picky questions, either. These questions can often mean the difference between a simple misunderstanding of support and money out of your own pocket.
We think you’ll find that most franchisors provide the level of support that you, as a franchisee, will expect to receive. That’s why so many of them pride themselves on their level of support as a main selling point. Those that have sound support systems are the most likely to brag about it. Consider that a positive sign…and vice versa.
Let’s chat! There’s a local FranNet consultant right in your market who knows that market inside and out – knows the personality of the market – knows the competitive landscape. FranNet has a great track record of assisting individuals on their path to entrepreneurship, and one of our franchise experts would love to provide you with guidance free of charge. Sound like something you might be interested in? Get started here and find your local consultant right now!