Steps to a Successful Selection
The initial consultation is done in person or over the phone. We want to understand who you are. We do a full assessment of your lifestyle, competency, and financial goals. Many franchises are selected based on what someone likes, what they know, or what they feel. We focus on the facts for you to make a logical, informed decision. Some of these questions and assessment will include:
This is the work we do well! We take your assessment and review different business models to determine if they align with your lifestyle and financial goals. Since we recruit for so many companies, we are not biased to one industry or one company. We represent all industries! We focus on what is best for you and will start by showing you 3 to 4 business models for review.
Franchise Company Analysis
We provide information on each franchise business we discuss. This can include the company website, E-Brochures, industry information, an understanding of the role of the owner, and an Interview Questionnaire for discussions with the franchise company.
The Analysis is done by you and provides us with your initial likes and dislikes, assumptions and all!
At this point, you have heard from us and the Franchise Representatives. The Validation process is a critical step to determine if what corporate is saying is truthful! The franchisees who are around the country will tell you their experiences. We provide an Interview Questionnaire to insure the Validation Process will provide you the most value. Those franchisees will help you with your projections, determine if the company can meet your lifestyle and financial goals, and take the time to get an unbiased perspective of the “day in the life of a franchisee”.
After you have had multiple conversations with the franchise company, reviewed the Franchise Disclosure Document, completed Validation Interviews, and have a depth of understanding for the company, you will be invited to a Discovery Day. This Invitation is provided to people who corporate feels will be a successful franchisee. Since there is an inter-dependent relationship between the Franchisor and the Franchisee, both parties must feel it is a good fit. Good companies interview You as much as you interview THEM! This is the time you can meet the people that you “may” sign a contract with!
Once you come back, usually you have enough facts to make an informed, competent decision!!!
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10 Pitfalls to Avoid in Selecting a Franchise!
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