The Hunt For Your Franchise. How to narrow down your list of options.

As a Franchise Recruitment Consultant with Outdoor Living Brands, I have the pleasure of speaking with hundreds of budding and existing entrepreneurs each week. Some franchise candidates know exactly what they are looking for, others are just beginning to test the waters and have absolutely no clue where to start.

Narrowing down the list of franchise opportunities can be difficult. There are hundreds of franchise opportunities to choose from and more often than not, there are hundreds in the niche you may be exploring.

So how do you narrow down that field? Personally, I recommend studying the three P's. Let's face it, most people focus on the three P's when deciding on which companies they support as consumers. The same philosophy and theory can certainly be used to narrow down the franchising industry.

Products

As you explore franchise opportunities, you will want to begin by focusing on the type of business you would like to operate. Are you looking to provide a service or sell a hot new product? Which ever direction you're leaning towards you will want to research that "product" heavily. In this day and age information is a few key strokes away. Odds are, there is already a wealth of information on the product/service you are interested in providing and you are just a point and click away from hundreds of consumers reviews. So what are consumers saying about the product/service you are considering? Here are a few questions to consider as you review the product/service;

• Is the product reliable? Quality?
• What are consumers saying about the product? Is it recommended?
• What issues or concerns have been brought up? Did the "Franchisor" or "Franchisee" respond to complaints? 
• What warranties or guarantees are provided?
• Are the products proprietary? What does the competition look like?

Let's apply this strategy and review one of the brands at Outdoor Living Brands. Renew Crew is a home-based franchise opportunity that provides cleaning and restoration services to clients throughout the United States.

With a few clicks on Google, I found there are hundreds of "power washing" companies to compare Renew Crew to. While the services provided are similar, the products and process Renew Crew Franchisees use to clean, seal and protect outdoor surfaces are proprietary (+2).  Renew Crew specializes in cleaning almost all outdoor surfaces so there is great opportunity for new and repeat business with the product and service offering (+1) Existing Renew Crew clients have left glowing recommendations and reviews on Listen360. My research showed that clients had great things to say about both the cleaning and staining products. (+1) Renew Crew franchisees  offer environmentally-friendly cleaners, that are not chlorine or bleach based (+1). With just a few key strokes, I was able to discern that Renew Crew offers an opportunity to provide quality service and products to consumers in my area.

Pretty easy right? After you have a clear understanding of the products/services you will want to think about your ability to offer this product? What processes are currently in place to help you, as the franchisee provide the product/services?

Which leads us to the next P, Process. When I speak with franchise candidates about the process I explain not only the sales process we have but also the initial training and ongoing training and support services we have for our franchisees. It is our corporate processes, that will ensure they have everything they need to not only launch but continue to grow and develop a vibrant business of their own. If they follow our "process" they should in fact achieve success. Obviously every franchise candidate is different and brings their own skill set to the table, but the process should be simple, effective and easily followed by any franchisee. In truth, it is the process that usual intrigues entrepreneurs in the first place. So how do you evaluate the processes that are currently in place? In truth, evaluating a franchise systems process can get a little tricky, as many franchisors want you to commit to their education or discovery process before they provide you with their "trade secrets". However with a little digging, you can usually find the information you need to help make a decision.

I recommend beginning on the franchise in questions' website. Most franchise websites will provide you with detailed information on their franchise program, process and support team. When evaluating the process pay close attention to;

• How they differentiate themselves from the competition?
• What does their initial training program cover?
• What ongoing support services do they provide?
• How do they assist franchisees after their first year in business?
• Do they have field support or opening support teams for retail locations?
• Do they have a mentoring team (other franchisees who can offer support and insight)?

These are just a few of the many questions you should ask as you begin your evaluation process. But like before, let's dive in with a real life example.

Outdoor Lighting Perspectives is North America's largest and most trusted source for landscape and architectural outdoor lighting. When I began reviewing their website I noticed they have a tab dedication to Training and Support.

Within the tab the clearly have answered several of my initial questions with information dedicated to lead generation (+1), marketing support (+1+, customer loyalty and retention(+1), comprehensive technology platform(+1) and franchise partner network(+1). The website clearly outlined their initial training program (+1) and detailed on going support services they provide. Each section also was supported by video testimonials and introductions by their teams. They also included a picture and team biographies to help me get to know the people in place to assist me if they were one of the brands I elected to explore further.

In addition to their corporate processes, they also have an interesting video series that illustrates the process Outdoor Lighting Perspectives franchisees use to sell, install and service products. (+4)

As an added bonus, the website also offered third party survey information to help me understand if the process and service they provide is not just fluff listed on their website. 

The Outdoor Lighting Perspectives website also led me to my third and final P, People. Anyone knows a good team is only as good as the people on it. Whether the team you choose to build around you in your local community or the team of people in place to support you at the corporate level. People matter, and there is an old adage in franchising that everyone should familiarize themselves with. I learned the saying from one of our amazing brand leaders and he said;

"Franchising is like marriage. You want to meet the family before you sign at the dotted line. Who just shows up at the church and says, I am ready who am I marrying? The team of people both corporately and at the franchisee level is now your family. You should like the in-laws and most importantly your spouse, otherwise you may not utilize the skills and attributes they bring to the union"

He could not have been more right! Now, as I continued researching I was lucky to find a wealth of information listed on the Outdoor Lighting Perspectives website regarding the people they have in place. Their corporate support team was clearly described with pictures, video and copy to support what role they will play in my support network.

But for websites that may not be as informative or are still working on adding additional information, LinkedIn is a fantastic way to research the corporate team and existing franchisees. LinkedIn profiles will offer you information about their past experience (what makes them an expert), support they will be able to provide (as well as reviews of working with them) and a better understanding of what led them to XYZ Company. 

Now, some other people may not suggest investigating the existing franchisees, I however, do! These are the individuals who will also become your associates and they can offer key insights and recommendations on the franchise system as a whole. It is their client reviews that will help shape the brand as a whole and it is important to know what type of company you will be in.

In addition, as you narrow down your list of franchises to explore, validation will be a key part to the process.  Let's face it, who would be better suited to answer any questions you have about investing your hard earned money than someone who has been exactly where you are?  

So that's it! My three P's to evaluating a franchise. Feel free to change, tweak and share. You're insights and comments could be just the advice some one needs to help take the first step.

Happy Hunting Everyone!