Before buying a franchise, ten important questions need to be carefully and thoughtfully answered:
1. Are you ready to take on the responsibilities of starting and running your own business?
2. Does your family accept your choice and are they ready to support you?
3. Do you like the activity you are considering enough to make a commitment for 5, 10 or 15 years?
4. Do you like dealing with people and are you good at it? – You will have to interact with your customers, your employees, the franchisor and other franchisees.
5. Do you like the franchisor’s staff / those people with whom you will be working?
6. Are you willing to follow the franchisor’s rules and system?
7. Can you afford the franchise?
8. Have you carefully studied the legal documents?
9. Does the franchise you are considering have a track record of success?
10. Are the other franchisees generally happy and successful?
Ensure that you review the Franchisor’s Disclosure Document thoroughly. They should give you one regardless of whether they are required to you in your province or not. That’s just good business on their part. It will include a list of locations and the contact information for those locations. Call a few, and. Or just in the market your looking in. Call Franchise Partners in others parts of the country as well.
Joey’s Franchise Group encourages all of its prospects to reach out to existing Franchise Partners, it’s why call them Partners!
Joey’s Seafood Restaurants | Joey’s Urban | MVP Modern Barbers | Homes & Land Magazine Canada
