5 Questions to Ask When Choosing Your Franchise
There's no such thing as a stupid question. Right? But does that mean some questions are smarter than others? Or are they just all on an even keel? Because, when deciding something important in life - such as a huge career move - it seems as though some questions should hold more weight than others.
No matter your stance on the levels of questions, however, there are very specific ones you should ask yourself - or ask others - in such an instance.
The same goes for choosing a food franchise company. Much like signing on with a new business with a “normal” job setting, there's plenty of information you need to learn before taking the job. However, what differs with a franchise is the level of commitment. When taking said new job, should it not work out, you could (in theory), quit. When signing with a franchise company, though, you're in it for the long haul, or however long your contract says you're in. Making the questions you ask in the beginning stages even more important. Maybe even some of the most important - and therefore smart - questions you might ever ask.
So what are some of the biggies? And why should you look into them in the first place?
When looking into various companies, be sure to ask:
5. What's in your contract?
This one you might want to ask a lawyer, as well as the franchising company involved. Whoever you ask, be sure you know exactly what's expected of you and when. Failing to do so could cause some serious mistakes. Including missed deadlines (which can come with a fee), or even breaches that are punishable by law.
On the other hand, understand what your franchising company is in charge of, too, in order to avoid any miscommunications from their end as well.
4. What are the company's main ideals?
Do you have the same stance on work ethics? What about morals? Profit margins? Or anything else business, or non-business related? If you don't match up now, chances are you will never get along down the road. In fact, it's a recipe that's only slated to get worse.
3. Do you like their product(s)?
There's no sense in backing a brand whose foods you truly don't enjoy. It doesn't have to be your favorite food in the world, but if you can't even stomach it, there's no way you can support the brand for years to come. Be sure it's food you enjoy, and made in a process you can morally stand behind.
2. What gives?
Is there a catch? What's the lowdown on the food and the people? And why hasn't anyone else snatched up this opportunity. Trust us, if they're a good company, they've heard this before and won't mind being asked it again.
1. When can you start?
Be sure there's not a long waiting period, or a lengthy timespan during which paperwork and logistics need to be taken care of. You might not be ready to start tomorrow, but you're also likely ready to start somewhat soon. Get the dates listed out, in writing, to have a better idea as to when your operation will be up and running.
Get the answers to these very important questions from any serious franchising possibilities. Their answers will help you narrow down your search and create a more thought-out plan.
Start by reaching out to potential companies today!
By Jason Hightower | Nov 23, 2017 | Food Franchise Blog