When you are considering which franchise to buy, it’s important to think about the qualities that the company has that will help make you successful. Finding a franchise company that will be a good fit with your strengths and personality is essential for a long and happy business relationship. Here are 4 important things to consider when choosing a franchise company.
1. What services do they provide to their franchisees?
Some franchise companies are in the franchise selling business, not the supporting franchisees business. The best franchise companies focus primarily on supporting their franchisees. Be careful that the resources of the franchise company you choose are being directed at helping their franchisees run successful stores.
2. Do they have experience in your industry?
A new franchise company might not have the industry experience to help you be successful. Here are some questions to ask from a potential franchisor:
- Have their officers actually worked in a franchise like yours, or does their experience come from other industries?
- What type of training does their support staff have in your specific industry?
- How important is industry specific knowledge to the success of your franchise?
3. Are their franchisees successful?
Do they have a high number of store closures? Is the industry you’re considering one that thrives in a down economy as well as in a good one? How happy are their franchisees? Be sure to talk to a number of franchisees about their experience before making your decision.
4. What role will you play in helping improve their system?
Being in a franchise is not for all people. If you are not willing to follow the systems outlined by the franchise company, you should not purchase a franchise. Some franchises allow their franchisees to participate in making changes or improvements to the system by trying new things. Others do not. Find out if your franchise company encourages innovation from their franchisees, or requires complete adherence to the systems already in place.
For information about owning a children’s clothing resale franchise, click here.
To learn more about owning a teen fashion resale franchise, click here.