What is the process of researching a franchise opportunity? Charles N. Internicola and Nick Powills provide you with insights to the holes you have to fill.
1. Narrowing down the interested brands when researching.
After starting with a quick Google search of a brand, you have to go through and narrow the amount of businesses down to between three to five that interest you and would be a consideration when becoming a franchisee.
2. Doing the due diligence.
By doing the due diligence, you specifically are able to look into the brand that you are interested in becoming a franchisee of and see the pros and cons for each business.
3. Having real connections to the franchisors.
Meeting with the franchisors and having that initial conversation on what the business is about is a great way to understand the business and the leaders that currently run it.
Now is always the right time to examine and re-examine your franchisee journey. How franchisee candidates interact with your brand, the connections they make with your team, and the decision making process that ultimately converts leads to franchisees.
Take a moment right now, try this exercise:
Culture is the opportunity and advantage that you may be overlooking!
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