Becoming a franchisee is not as simple and straightforward as
it seems. There are many different aspects to it which should be considered before
making any financial commitment. US Media Studios suggests questions
to ask before buying a franchise.
How well does the franchisor know his or her franchisees? Did
they take time to vet them? It is important for the prospective franchisee to ask
the franchisor as many questions about how they run the business, support the others
and what are its plans for growth in the next five to ten years.
How experienced are the managers for the franchisor? Do they
know how to handle a conference call with 20 people on it, all new to running a
business? How are their people skills?
US Media Studios also suggests asking if the franchisor has
nay exclusive areas in which they operate? Are there any competitors in the
area?
It is also smart to ask if the franchisor has a system in
place to supplying needed items, both disposable and non-disposable? Who pays
for the upgrade or replacement of equipment when needed?
Be armed with as many questions as possible to protect
yourself before agreeing to become a franchisee.
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