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A Good Franchise Match

franmartconnection — Thu, 21 Jun 2007 18:55:06 +0000

I have been a franchisee, and now I council others on finding, investigating researching and finally purchasing a franchise for themselves. In working with hundreds of Franchisors through the years, I have learned what it takes to be a good fit as a franchisee.

Are you:

Higher-than-average dominance
Energy driven
Logical
Results oriented
Sociable
Ambitious
Assertive
Collaborative

Some franchises will even have you take a personality profile. There are a few good ones on the market. Two top ones are D.I.S.C. and McQuaig Institute of Executive Development. They help to determine if you are a good fit.

Winfree Business Growth Advisors, uses D.I.S.C. Because they Guarantee Results they want the right franchisee for their system. Winfree Business Growth Franchise Opportunity is NOT for everyone. A Winfree Business Growth Franchise Opportunity looks for very specific individuals. You must be an experienced high-powered executive. Winfree Business Growth Franchise Opportunity seeks Top Business Management, and Sales Management, with approximately 10-20 years experience. Winfree Business Growth Franchise Opportunity franchisee has sold tangibles and intangibles on a national level. They are very particular and use D.I.S.C. as a tool, as do many other Franchisors.

You can’t flunk a personality survey, but you can send out signals that you might not be the right fit for a franchise system. This will help you, as well as Franchisor make sure it’s a good fit for you both.

What to ask Franchisees

franmartconnection — Sun, 17 Jun 2007 19:58:55 +0000

Talking to current franchisees is an extremely important part of validating a franchise, to see if it is a good fit for you. Franchisees know the business.

The franchisees are the ones who can tell you the real deal. They can tell you what your day will be like, and when you might expect to break even, if the Franchisor is easy to work with and gives the support needed, for example.

You should speak with several franchisees and you will have a better idea of deciding if you want to purchase this franchise.

When you are ready to call, have a clear idea what you want to discuss. Create a list of questions. First ask yourself, “What do I want to know?”

Some suggested questions to ask:

· Knowing what you know now, would you make this investment again?

· How has the Franchisor responded to your calls for support?

· How would you describe your overall Franchisor/franchisee relationship?

· What do you do in a typical day?

· What type of business experience did you possess before buying this franchise?

· What hours do you work?

· How long did it take for you to realize a return on investment?

· What are your approximate earnings and are they in line with your expectations?

· What do you wear to work?

· Was the training the Franchisor provided thorough and did it sufficiently prepare you to run this business?

· Is your territory big enough to hit your goals?

· Are you required to use designated vendors?

· Does the Franchisor advertise as much as it said it would?

· What type of business experience, education and skills did you possess before buying this franchise?

· Why did you select this particular franchise?

· Did you encounter any problems with the Franchisor, the site, or establishing your business and how did the Franchisor respond to problems?

· Are your sales patterns seasonal?

Questions to ask former franchisees that have left the system: (all of the above plus)

· Why did you leave the franchise system?

· Did the Franchisor cooperate in helping you sell your franchise?

· Would you consider buying a franchise from a different Franchisor?

Lastly, if the franchisee is doing well and it is asuccess, they want to have a chance to brag. If they are not doing well, or upset with the Franchisor, they want to tell the whole world why.

Remember, in even the most successful franchise, you may find a few who are not doing well. Work ethics differ. The amount of time people put into their business differs. Try and get as much information as possible from all the franchisees you talk too. If you would like some more questions, I would be happy to help you.

Why a Franchise

franmartconnection — Sat, 19 May 2007 00:44:43 +0000

I have experienced success in the franchise business as the owner of multiple types of franchise units. I have extensive knowledge of starting, growing, operating, and selling franchises. Like Fran Mart Connection, I believe strongly that a business should facilitate the dreams of its owner.

In 1983 I completed my MBA in small business management and entrepreneurial studies, then purchased my first franchise. I won numerous awards for quality management, and became a key “go to” business owner upon whom the Franchisor depended on to train new franchise owners.

In 1998, I successfully sold all of my franchises. Today I continue to consult in business development and work force training. I am excited about my relationship with Fran Mart Connection as an independent consultant, as it affords me the opportunity to use my knowledge first hand about franchising and business ownership. I have become is an expert in advising and coaching others in decision matrix development, and execution. Whether I am coaching youth debating, serving on a local political committee, or helping in my community, my passion is to help others achieve their dreams.

I am an avid reader, and active in the local library system volunteer organization. I have three (almost grown) children, one getting ready to go off to college.