Part 3: How Do you find the Right Franchise?
Research is really important. When you are looking for a franchise system you really need to look around. Check out their competitors. Most franchise systems have competitor systems. These are other franchise systems that compete in the same market place and have similar customer base.
It is always good to put the franchise you are about to buy into perspective. It helps you to feel comfortable that you aren’t being ripped off and that you are getting into the best opportunity in that marketplace.
Check out their price, sites available, services they offer to customers, marketing that they do to support their franchisees, product range and diversity, product development, marketing levies, Royalties and initial set up costs. You have to take into account of all these things and see how the different fees and charges affect your overall business plan.
Be on the lookout for the dodgy copycat franchise. One thing to bear in mind is that the cheapest is not always the best. You have to look at the whole picture and weigh up the pro’s and con’s.
Ubetheboss.com.au is a very good resource to use to find many different franchise brands, check out what the franchise has to offer and even look at international franchises that maybe compare or are similar to the one you are looking at.
Written by Elton Williams