What to look for when you want to franchise?

cessy · #1 (**permalink**) 12-05-2006, 08:26 PM

Aside from the money to buy their own franchise, I think a person should consider his / her line of interest. For me, in any business that you may want to enter, you should enjoy doing it and not only for the sake of earning money.

vngrape · #2 (**permalink**) 12-08-2006, 04:36 AM

I agree that you HAVE TO consider your interests when buying a franchise; not only your financial capabilities. But if you really want a franchise and you have limited funds to invest, you should also consider the potential of the company you want to invest in.

richlanxsabelle · #3 (**permalink**) 12-10-2006, 06:01 AM

DO YOUR HOMEWORK

Look for commitment. Find a franchiser that's committed, dedicated and proven to build the brand - and that accomplishes that through awareness, store volume, customer love and loyalty.

Look for dedication. Find a franchiser dedicated to your growth and beyond same-store sales. I recommend looking into whether they provide infrastructure services, supervisory training and help growing the business. Find out what their marketing department and development teams look like. Also, see whether the franchiser helps single-unit operators become multi-unit operators.

Look for integrity. Find a franchiser committed to the concept's integrity.

Look for innovation. Find a franchiser that innovates. I believe an ideal franchiser should be doing all of the above and incorporating innovation into each aspect.

cessy · #4 (**permalink**) 12-13-2006, 02:51 AM

Quote:

Originally Posted by richlanxsabelle

DO YOUR HOMEWORK

Look for commitment. Find a franchiser that's committed, dedicated and proven to build the brand - and that accomplishes that through awareness, store volume, customer love and loyalty.

Look for dedication. Find a franchiser dedicated to your growth and beyond same-store sales. I recommend looking into whether they provide infrastructure services, supervisory training and help growing the business. Find out what their marketing department and development teams look like. Also, see whether the franchiser helps single-unit operators become multi-unit operators.

Look for integrity. Find a franchiser committed to the concept's integrity.

Look for innovation. Find a franchiser that innovates. I believe an ideal franchiser should be doing all of the above and incorporating innovation into each aspect.

Thank you for the points to consider that you shared. I agree that it is important to have a franchiser that is willing to grow with you. It is pointless to try to share a business with a company who would not want to help you mature as a businessperson.

richlanxsabelle · #5 (**permalink**) 12-13-2006, 08:43 AM

Yes, it is not always necessary to choose a company that's already big on the market. You can choose a growing company so you can grow with them. You're still investing the same risks whether you're investing in a big or small or company. Remember, big businesses also collapse.

cessy · #6 (**permalink**) 12-14-2006, 04:26 AM

Yes but it could be that the chances of the big businesses to collapse is smaller than the smaller businesses out there, isn’t it? However, I also agree that investing in a small but reputable company is also good because aside from lower franchising fees, terms could still be easily negotiated.

pcsofdpuzzle · #7 (**permalink**) 12-14-2006, 08:15 AM

And also review your business strategies, dont jump into a business because its in demand/in season. That business may give you instant money or give back your investment in no time but its not for long term type. I know lots of young businessman venture out on this kind of strategies unfortunately it did not succeed for a long time.

bianca · #8 (**permalink**) 12-18-2006, 10:50 AM

Look for low initial capital investment, full training programs in technical, marketing and management training, manpower recruitment assistance and regular marketing and advertising support.

nitty · #9 (**permalink**) 12-22-2006, 01:45 AM

Make sure that your money is worth the franchise deal. There could be some franchise investments out there that is not worth the money you will spend. Be wise in selecting a franchise.

audrey · #10 (**permalink**) 12-22-2006, 10:06 PM

When looking for a franchise, the person must consider his or her determination to manage it well. I think that even if the money is the only motivator of the investor, that would suit him just fine because that alone could make the person want to continue his business, manage it well and perform good services.