FAQs
A franchise is a legal relation between the owner of a company and an individual person or group who are interested in the use of the ensured identification of the company’s brand for its own business. The franchise system is increasingly popular and growing. Nearly all industries use some form of franchising systems, ranging from food products and services to hotels.
In general, the franchisor has the rights to a name or a brand and then “sells” this right to the franchisee. In a more complex way, known as business in the franchising format, there is a broad and continuous relationship that exists between both parties. In this relationship, a listing of services can be included, among them: operation and supply of products, advertising plans and funding, among other aspects.
Typically, the franchisee sells products and services that are offered by the franchisor, meeting the quality standards set by the franchisor. A franchise normally allows the franchisee to operate a business, obtaining the right to use the franchisor’s name for a limited time, starting from the moment where he/she pays for this right. In exchange, the franchisor offers assistance to the franchisee. For example, the franchisor can help to find a place for the establishment; provide initial operations instructions and an operational manual, and provide advice about management, marketing or staff.
In general, the franchisor has the rights to a name or a brand and then “sells” this right to the franchisee. In a more complex way, known as business in the franchising format, there is a broad and continuous relationship that exists between both parties. In this relationship, a listing of services can be included, among them: operation and supply of products, advertising plans and funding, among other aspects.
Typically, the franchisee sells products and services that are offered by the franchisor, meeting the quality standards set by the franchisor. A franchise normally allows the franchisee to operate a business, obtaining the right to use the franchisor’s name for a limited time, starting from the moment where he/she pays for this right. In exchange, the franchisor offers assistance to the franchisee. For example, the franchisor can help to find a place for the establishment; provide initial operations instructions and an operational manual, and provide advice about management, marketing or staff.
In the acquisition of a company, an entrepreneur acquires a definitive business that is customizable, that operates under a name chosen by him/her, and retains no ties with outsourcers. The value of the purchase covers delivery of the business system, training, equipment, as well as the method and services to the buyer. The transition does not involve royalties, the investment is typically lower than that of a franchise, and there is freedom of choices in the firm’s on-going business activities.
In the case of franchising, a relationship is established between the seller (franchisor) and the buyer (franchisee). This relationship remains for the entire time that the franchisee participates in the company. A commitment is made by the franchisor to the franchisee, which requires that the franchisee keep the standards set by the franchisor for the operation of the business.
The following are characteristics of a franchise: brand recognition, training programs, continuous support, and exposition of the network and advertising plans.
In the case of franchising, a relationship is established between the seller (franchisor) and the buyer (franchisee). This relationship remains for the entire time that the franchisee participates in the company. A commitment is made by the franchisor to the franchisee, which requires that the franchisee keep the standards set by the franchisor for the operation of the business.
The following are characteristics of a franchise: brand recognition, training programs, continuous support, and exposition of the network and advertising plans.
Opening your own business can be an opportunity that you might not find in another work. Owning your own business is a way for you to take control of your career, your finances, your time and your future. Opening your own business or franchise means that you will be your own boss, working for yourself, reaping the rewards more efficiently and being able to enjoy the successes.
The decision to be your own boss requires investment, commitment and continued dedication, either in a single company or as part of a franchise. However, to enter the world of 90% of the franchises available today, you do not need experience in industrial or commercial areas. The franchising system offers complete training, plus on-going support to the franchisee. It’s all about a business system with a proven operating model, tested efficiencies and a popular business with established demand.
Deciding which franchise is ideal for you is perhaps the hardest decision for an interested person. A franchise requires much more than just serving your personal and family interests; it’s a big mistake to choose a franchise only by affinity. The fact that you like information, for example, is not the only consideration when choosing a franchise. It must also fit in your budget, which you can not exaggerate.
Another important consideration is that the chosen franchise must satisfy the demands of its region, otherwise it will never achieve the desired results. You must preview, for example, if the market is already saturated with similar competitors that can interfere with the growth of your business. Careful consideration of these and other factors is wise and can reveal if your business has real chances of success.
Another important consideration is that the chosen franchise must satisfy the demands of its region, otherwise it will never achieve the desired results. You must preview, for example, if the market is already saturated with similar competitors that can interfere with the growth of your business. Careful consideration of these and other factors is wise and can reveal if your business has real chances of success.
The cost to acquire a franchise varies greatly, depending on the sector or activity. You can not compare the money invested in a franchise between different sectors. The value also varies according to the needs of infrastructure for installation on property leased or owned; construction or reform of the building, purchase of machinery, equipment and utensils, furniture and visual communication.
The total investment takes into account: the initial franchise purchase rate, the amount earmarked for installation, the value of advertising, the royalties and the capital required for marketing purposes. In general, there is no franchise that demands less than US$10,000 to open the doors of the business.
Depending on the country, some franchisors may even offer financing. Another source of capital is the banks and financial institutions that typically develop credit lines and funding to franchisors and small companies. Consult your local bank branch for more information. Depending on the country, some Franchisors may even offer own financing. Another source of resources are the banks and financial institutions that usually develop credit lines and funding to Franchisors and small companies. Consult your local bank branch.
The total investment takes into account: the initial franchise purchase rate, the amount earmarked for installation, the value of advertising, the royalties and the capital required for marketing purposes. In general, there is no franchise that demands less than US$10,000 to open the doors of the business.
Depending on the country, some franchisors may even offer financing. Another source of capital is the banks and financial institutions that typically develop credit lines and funding to franchisors and small companies. Consult your local bank branch for more information. Depending on the country, some Franchisors may even offer own financing. Another source of resources are the banks and financial institutions that usually develop credit lines and funding to Franchisors and small companies. Consult your local bank branch.
Before investing in a franchise system, the franchisee candidate must obtain the amount of information he/she needs, to the extent that he/she feels comfortable. Apart from reading the documents from the franchise company, talking with current and former franchisees of the particular franchise brand, it is essential to obtain the help of a lawyer and an accountant.
A lawyer is indispensable in his/her ability to support you in the management of the business, acting on legal advice. Franchise and business ownership contracts in this area are long and complex. The role of the lawyer is to help you understand your obligations as a franchisee, avoiding major complications or eventual problems with the franchisor. It is very important that your lawyer be an experienced professional in franchises. Your accountant, in turn, must review your accounts, and will be an immeasurable help to you with your finances. Your accountant must also help you to develop a business plan and project future earnings. With the help of these professionals, it will be easier for you to choose a franchise that best fits your investment needs and goals.
One precaution that a franchisee must consider is to heed the advice of his/her bank. Banks and other financial institutions can offer an impartial point of view on the franchise in question.
Another concern that a future franchisee must consider is all of the information regarding possible complaints about the company, its products, services and employees. This helps to understand the company’s market positioning, background and potential pitfalls. The precaution Franchisee needs also listen to his/ her bank. Banks and other financial institutions can offer an impartial point of view on the Franchise in question.
Another concern that the future Franchisee must have is to know the information about possible complains about the company, its products, services and employees. This helps to understand the reality of the company.
A lawyer is indispensable in his/her ability to support you in the management of the business, acting on legal advice. Franchise and business ownership contracts in this area are long and complex. The role of the lawyer is to help you understand your obligations as a franchisee, avoiding major complications or eventual problems with the franchisor. It is very important that your lawyer be an experienced professional in franchises. Your accountant, in turn, must review your accounts, and will be an immeasurable help to you with your finances. Your accountant must also help you to develop a business plan and project future earnings. With the help of these professionals, it will be easier for you to choose a franchise that best fits your investment needs and goals.
One precaution that a franchisee must consider is to heed the advice of his/her bank. Banks and other financial institutions can offer an impartial point of view on the franchise in question.
Another concern that a future franchisee must consider is all of the information regarding possible complaints about the company, its products, services and employees. This helps to understand the company’s market positioning, background and potential pitfalls. The precaution Franchisee needs also listen to his/ her bank. Banks and other financial institutions can offer an impartial point of view on the Franchise in question.
Another concern that the future Franchisee must have is to know the information about possible complains about the company, its products, services and employees. This helps to understand the reality of the company.
In most cases, yes, it is possible for you to have a partner in a franchise. However, there are certain situations where the franchisee can’t have a partner, which varies according to the preferences of the franchisor. The partner can be a financial or operational partner, depending on the franchisee’s needs.
You can own more than one franchise; however, this concept can vary from franchise to franchise and depends on its position in the market. For example, if you own a single, successful franchise, you won’t have any major problems purchasing a second franchise and franchisors will be interested in this opportunity.
Another possibility is that a franchisee may consider buying a franchise that is a different concept from what he/she already has, regardless of the brand. This is something possible, so long as the new franchise is not a competitor. This situation can change according to agreements, therefore careful attention to the established agreement is crucial; along with the help of a lawyer familiar with the reality of franchise systems. Informing your lawyer about your goals and future desires facilitates his/her work and will reassure you.
Another possibility is that a franchisee may consider buying a franchise that is a different concept from what he/she already has, regardless of the brand. This is something possible, so long as the new franchise is not a competitor. This situation can change according to agreements, therefore careful attention to the established agreement is crucial; along with the help of a lawyer familiar with the reality of franchise systems. Informing your lawyer about your goals and future desires facilitates his/her work and will reassure you.
There is no business that assures you 100% success. Franchising requires an investment and involves an inherent risk. The situation, however, is encouraging for those who want to buy a franchise. Most franchisees are happy with the business that they opened, and have become successful entrepreneurs. Still, there is always a group of franchisors that does not achieve the desired result, and in this case the franchisee loses his/her money invested. You should always be careful when someone offers you a franchise with a sure and quick profit. Like any important investment, investigating and studying the franchise— before closing the deal— is critical. Further, even with the very best franchise, only the continuous and proper working of your business is capable of bringing about your desired success.
In addition to the advantages and facilities offered by franchisors to those who want become franchisees, buying a franchise is a risk, like any other investment. Before deciding on a franchise, some questions must be considered, such as:
Demand – Is there sufficient demand for all the products or services offered by the franchisor in the community? Is the demand seasonal, meaning the business will be profitable only during a certain period of the year? Is there a risk of not having the same demand for these products or services in the future? Is demand for the products or services only temporary?
Competition – What is the level of competition in a national and regional context? How many franchisees does the company have in the region? How many competing companies are there? Are these companies well established and acknowledged in the region? Are the prices charged by competing companies of equal or lesser value to those set by the franchisor?
Capacity to Operate the Business – Will you be capable of operating the business even if the franchisor abandons the company? In which areas do you need help from the franchisor in order to be successful? Will you have easy access to the same or other suppliers? Do you believe that you will be able to operate the business alone in case you are unable to employ others?
Recognized Name – The primary reason to buy a franchise is to obtain the right to use the franchisor’s trade name. An acknowledged name of a well-known brand gets the public’s attention, which creates an opportunity for you to sell your products or services. That’s why it’s very important to consider the followings points before buying a franchise:
These are the fundamental considerations that will help you to understand how the franchise is seen by the public before choosing your franchise.
Implementation and Support Services – Another reason that leads an entrepreneur to buy a franchise is the support he/she receives from the franchisor. As to the support offered by the company, consider the following valid questions:
Will these training and support courses be efficient for your improvement in the area? Is your experience similar to the typical experiences of workers in the franchise’s area? Could you compete with professionals who have more training or ability? Have undergone sufficient training to ensure success? Do the franchise owners have prior technical or specific training that enables them to succeed?
The Franchisor’s Experience – Some Franchisors operate well-established companies and have extensive experience, both in selling their products or services and in the management of a franchise system. Other franchisors began their business life in their own companies. Still, there is no assurance that a successful business person will achieve success in the management of a franchise system. Studying and analyzing the Franchisor’s experience is crucial. You must feel comfortable with the franchisor’s experience before proceeding with any franchise purchase.
Growth – A franchise system in the growth phase strengthens the franchisor’s name, attracting customers. However, growth doesn’t ensure the franchisor’s success. A company that grows too fast may not be able to meet the need of all of its franchisees, and may not provide the promised support. Before buying a franchise, you must ensure that the franchisor has sufficient financial power and employees to support its franchisees.
Demand – Is there sufficient demand for all the products or services offered by the franchisor in the community? Is the demand seasonal, meaning the business will be profitable only during a certain period of the year? Is there a risk of not having the same demand for these products or services in the future? Is demand for the products or services only temporary?
Competition – What is the level of competition in a national and regional context? How many franchisees does the company have in the region? How many competing companies are there? Are these companies well established and acknowledged in the region? Are the prices charged by competing companies of equal or lesser value to those set by the franchisor?
Capacity to Operate the Business – Will you be capable of operating the business even if the franchisor abandons the company? In which areas do you need help from the franchisor in order to be successful? Will you have easy access to the same or other suppliers? Do you believe that you will be able to operate the business alone in case you are unable to employ others?
Recognized Name – The primary reason to buy a franchise is to obtain the right to use the franchisor’s trade name. An acknowledged name of a well-known brand gets the public’s attention, which creates an opportunity for you to sell your products or services. That’s why it’s very important to consider the followings points before buying a franchise:
- • The name of the company and the way it’s widely acknowledged in the marketplace
- • How long the franchisor has been active in the market
- • The quality of products or services offered by the company
- • The number of complaints against the franchise
These are the fundamental considerations that will help you to understand how the franchise is seen by the public before choosing your franchise.
Implementation and Support Services – Another reason that leads an entrepreneur to buy a franchise is the support he/she receives from the franchisor. As to the support offered by the company, consider the following valid questions:
Will these training and support courses be efficient for your improvement in the area? Is your experience similar to the typical experiences of workers in the franchise’s area? Could you compete with professionals who have more training or ability? Have undergone sufficient training to ensure success? Do the franchise owners have prior technical or specific training that enables them to succeed?
The Franchisor’s Experience – Some Franchisors operate well-established companies and have extensive experience, both in selling their products or services and in the management of a franchise system. Other franchisors began their business life in their own companies. Still, there is no assurance that a successful business person will achieve success in the management of a franchise system. Studying and analyzing the Franchisor’s experience is crucial. You must feel comfortable with the franchisor’s experience before proceeding with any franchise purchase.
Growth – A franchise system in the growth phase strengthens the franchisor’s name, attracting customers. However, growth doesn’t ensure the franchisor’s success. A company that grows too fast may not be able to meet the need of all of its franchisees, and may not provide the promised support. Before buying a franchise, you must ensure that the franchisor has sufficient financial power and employees to support its franchisees.
Franchise exhibits help you to understand several different kinds of businesses. They allow visitors who are interested in franchising to visualize and compare each sector, and to make contact with a variety of franchises, which gives the Franchisee candidate greater knowledge. However, one must be cautious when attending a franchise exhibit because its main function is to sell the franchising system.
Before visiting a franchise exhibit, select a few franchises that fit into your investment profile, experience and goals. When attending the event, ask questions and compare your franchises of interest.
Consider how much you can invest – Before exploring investment options, define the real value of your financial power. Do not estimate a value above what you know you can pay due to the influence of the franchise owners, who may encourage you not to invest more than you are comfortable with in order not to miss the opportunity.
Identify what type of business is right for you – First, consider the industry you are interested in before you focus on the franchising system. Here, it is worthwhile to apply the following questions: Have you ever thought about working in this sector? Can you imagine yourself working in this industry for the next 20 years? Do you have the necessary skills? Considering these questions can make it easier for you to decide on a sector of activity most suited to your abilities.
Compare, listen to what the exhibitors have to say and watch franchisors’ presentations – Participate in discussions with other consumers. Visit all the franchise exhibitors in the type of sector that is suited to you. Crucial questions for you to ask include: for how long has the franchisor been acting in the market? How many establishments currently exist? Where are they located? What are the franchise’s initial rate and any other initial costs? What is the monthly amount charged per royalty? What are the costs required by the franchisor? What are the controls imposed by the franchisor? The contacts that make with franchisors at these events must be seen as a good opportunity to obtain knowledge, not as a way for tendering prizes or collecting the free samples offered.
Beware of any promises about billing – Be careful not to be deluded by franchisors who promise high and fast turnover. Seek to understand the promises they make and consider the merits of such promises carefully. Ask for substantial, written data to prove any projections made by the franchisor. Proceed with caution if the franchisor refuses to provide adequate reasoning.
Write down all information – It can be hard to remember everything you saw and heard at an exhibition. Take careful notes, which can be useful when choosing the right franchise for you. Keep cards from each display in order to ensure that you have all of the contact information you need after the exhibition.
Do not feel pressured by sales tactics – Do not feel forced to seal any commitment at the exhibition. The exhibitor’s function is to sell, and he/she will try all kinds of methods to convince you to choose his/her product. The franchisor may say that he/she is offering a limited time opportunity, with a short period of time for you to make your decision. Instead, compare all the possible franchises and investigate the actual conditions of each one company.
Study the franchisors’ offers – Do not make any decision before analyzing all offers. Take some time to talk to former and current franchisees. Analyzing all offers is essential to making the right decision about your franchise of choice. Investing in a franchise is an important, long-term commitment that demands your investment. It’s necessary to take some precautions, such as having a competent lawyer review the documentation and pay careful attention to the financial issues involved prior to making your decision.
Before visiting a franchise exhibit, select a few franchises that fit into your investment profile, experience and goals. When attending the event, ask questions and compare your franchises of interest.
Consider how much you can invest – Before exploring investment options, define the real value of your financial power. Do not estimate a value above what you know you can pay due to the influence of the franchise owners, who may encourage you not to invest more than you are comfortable with in order not to miss the opportunity.
Identify what type of business is right for you – First, consider the industry you are interested in before you focus on the franchising system. Here, it is worthwhile to apply the following questions: Have you ever thought about working in this sector? Can you imagine yourself working in this industry for the next 20 years? Do you have the necessary skills? Considering these questions can make it easier for you to decide on a sector of activity most suited to your abilities.
Compare, listen to what the exhibitors have to say and watch franchisors’ presentations – Participate in discussions with other consumers. Visit all the franchise exhibitors in the type of sector that is suited to you. Crucial questions for you to ask include: for how long has the franchisor been acting in the market? How many establishments currently exist? Where are they located? What are the franchise’s initial rate and any other initial costs? What is the monthly amount charged per royalty? What are the costs required by the franchisor? What are the controls imposed by the franchisor? The contacts that make with franchisors at these events must be seen as a good opportunity to obtain knowledge, not as a way for tendering prizes or collecting the free samples offered.
Beware of any promises about billing – Be careful not to be deluded by franchisors who promise high and fast turnover. Seek to understand the promises they make and consider the merits of such promises carefully. Ask for substantial, written data to prove any projections made by the franchisor. Proceed with caution if the franchisor refuses to provide adequate reasoning.
Write down all information – It can be hard to remember everything you saw and heard at an exhibition. Take careful notes, which can be useful when choosing the right franchise for you. Keep cards from each display in order to ensure that you have all of the contact information you need after the exhibition.
Do not feel pressured by sales tactics – Do not feel forced to seal any commitment at the exhibition. The exhibitor’s function is to sell, and he/she will try all kinds of methods to convince you to choose his/her product. The franchisor may say that he/she is offering a limited time opportunity, with a short period of time for you to make your decision. Instead, compare all the possible franchises and investigate the actual conditions of each one company.
Study the franchisors’ offers – Do not make any decision before analyzing all offers. Take some time to talk to former and current franchisees. Analyzing all offers is essential to making the right decision about your franchise of choice. Investing in a franchise is an important, long-term commitment that demands your investment. It’s necessary to take some precautions, such as having a competent lawyer review the documentation and pay careful attention to the financial issues involved prior to making your decision.
Franchisees need to be aware that he/she may have to give up some of his freedoms in order to be successful. Total dedication to your work and concentration on the franchise are indispensable attributes for a good franchisee. It’s also worthwhile to mention other drawbacks that are typical of any business, which include uncertainties about the return on your investment, the company’s operational considerations and potential sales.
If you are the kind of person who is used to making decisions for yourself, doesn’t like to listen to what others have to say and prefers to keep his/her business to yourself, a franchise might not be the right business for you. Remember that there is always an obligation of the franchisee to the franchisor to comply with the established controls and procedures. You must be prepared and focused before you make this commitment.
If you are the kind of person who is used to making decisions for yourself, doesn’t like to listen to what others have to say and prefers to keep his/her business to yourself, a franchise might not be the right business for you. Remember that there is always an obligation of the franchisee to the franchisor to comply with the established controls and procedures. You must be prepared and focused before you make this commitment.
All kinds of businesses can become a franchise. In April 2008, there were more than 75 categories of franchises listed in the International Franchising Association IFA. Franchises encompass far more than popular fast-food networks. Any company with products or services can be a franchise, ranging from personal relationship services to rental of videos and automotive services. The list is extensive. Retail stores, such as those that sell personal accessories, footwear, aesthetics, communication, information technology, education, graphics, tourism, construction, bookstores, gifts, business and clothing, are all examples of stores that have representatives working in the franchising system.
An individual owns a store with a particular concept. The business grows in such a way that the owner sees an opportunity to expand and decides to open a second or third store. That growth requires that he/she hires staff to open these new stores. With the addition of two or more locations, the business tends to evolve even more. However, the owner decides not to operate the additional stores, choosing to maintain the name and business system for another company or person to operate the business. In exchange, this businessperson charges an initial fee and a royalty fee that he/she will continuously receive, based on the sales of the franchisee. The business becomes a franchise.
There are several benefits to businesspeople that are linked to the franchising world, as well as a number of responsibilities. Easy access to products and a proven method of operating the company, for example, reduce a lot the risks of early business development. Research shows that the number of franchises that fail, in the development phase are quite small when compared to other companies that are in their initial development phases.
On the other hand, it’s never easy to achieve success with your business. You must be well prepared, with full-time availability and have sufficient financial resources. Franchisees gain much more than access to the brand from the franchisor. He/she gains the franchisor’s experience and knowledge, as primary benefits. The franchisee also hopes to be able to count on the franchisor’s support to facilitate the management and development of his/her business.
On the other hand, it’s never easy to achieve success with your business. You must be well prepared, with full-time availability and have sufficient financial resources. Franchisees gain much more than access to the brand from the franchisor. He/she gains the franchisor’s experience and knowledge, as primary benefits. The franchisee also hopes to be able to count on the franchisor’s support to facilitate the management and development of his/her business.
In the constitution of any company, the uncertainties that permeate opportunity and risk are major drawbacks— this is not different for a franchisor company. There are expectations of the return on investment, sales and business performance. However, there are also areas of competence on the part of the franchisor, which constitute the “body of the business” and can be summarized in three channels:
The products and services that reach consumers combine workforce and input into marketable concepts of a franchise. This way, the franchisor company pays special attention to the “soul of the business,” or the quality on the following fronts:
The public acknowledgment of a franchise’s brand depends on joint efforts of “intelligence” between the franchisor and franchisee, which are integrated to provide:
Franchisees regularly pay an Advertising and Market Contribution Franchise Fee, which is applied by the Franchisor for branding campaigns and promotional plays, which can include: the brand’s Website; marketing email; direct marketing; in press accessorizing and public relations; and in development projects regarding visual communication and signaling pattern designs of the stores, packaging, uniforms, etc. However, with a growing number of franchisees in the marketplace, the greater the geographical scope, the greater the advertising focus and intensity, until the company reaches state and national mass communication levels.
- • Development and innovation of products and services for consumption (B-C)
- • Relationship and corporate support to the franchisee network (BF-BF)
- • Identification of opportunities in region where there is demand for new Franchisees (B-B)
The products and services that reach consumers combine workforce and input into marketable concepts of a franchise. This way, the franchisor company pays special attention to the “soul of the business,” or the quality on the following fronts:
- • Selection of suppliers and supplies
- • Logistics of supply and distribution
- • Development of training programs
- • Publicity and visual identity planning
- • Mapping and sales control
The public acknowledgment of a franchise’s brand depends on joint efforts of “intelligence” between the franchisor and franchisee, which are integrated to provide:
- • Attention to opportunities and consumption needs
- • Network operations harmony
- • Visibility of the brand
Franchisees regularly pay an Advertising and Market Contribution Franchise Fee, which is applied by the Franchisor for branding campaigns and promotional plays, which can include: the brand’s Website; marketing email; direct marketing; in press accessorizing and public relations; and in development projects regarding visual communication and signaling pattern designs of the stores, packaging, uniforms, etc. However, with a growing number of franchisees in the marketplace, the greater the geographical scope, the greater the advertising focus and intensity, until the company reaches state and national mass communication levels.
The first step to a successful business in the franchising arena requires analyzing your own competences, abilities and experiences.
A franchisor’s profile demands creativity, expectations for results and a capacity to work in teams. Specify exactly what you are looking for, define what you’re willing to sacrifice to achieve our goals. Some questions you might ask yourself include:
Despite the difficulties that you may encounter, a well prepared franchisor, who dedicates time, energy and money to his/her business, has everything he/she needs to achieve a profitable venture.
An efficient franchisor must be able to balance his/her business initiative with the desire to accomplish a new business venture, always remembering that the desired results are only achieved via mutual understanding between the franchisor and franchisee.
A franchisor’s profile demands creativity, expectations for results and a capacity to work in teams. Specify exactly what you are looking for, define what you’re willing to sacrifice to achieve our goals. Some questions you might ask yourself include:
- • Am I qualified for this industry?
- • Consider your experience, training, learning capacity and investment capital
- • How will this new role affect my family?
- • Am I willing to face the risks and sacrifices that a business franchise demands?
Despite the difficulties that you may encounter, a well prepared franchisor, who dedicates time, energy and money to his/her business, has everything he/she needs to achieve a profitable venture.
An efficient franchisor must be able to balance his/her business initiative with the desire to accomplish a new business venture, always remembering that the desired results are only achieved via mutual understanding between the franchisor and franchisee.
