What Makes a Good Franchise System?

There are many parts to a good franchise company. Let me touch on some of those areas you need to be on the lookout for:

1. Experience: Successful franchise companies bring substantial industry experience to the table. They’re looking for franchisees with broad-based business skills, not technical expertise. Franchising can be an effective way for you to transition to a new industry.

Making YOU the Expert

1. Training: To transfer their expertise to you, franchisors must become expert trainers. Training for new owners may range from two to eight weeks. A combination of training will usually be conducted at headquarters and in your market. The support should continue after your initial training in the form of new product development, new technology, recruiting of employees, and marketing techniques.

1. Name Recognition: The importance of name recognition depends on the industry, but in consumer-oriented businesses it is what separates the franchises from independent companies. However, there is a paradox in name recognition in your market by the time you are aware of it may not be available.

1. Proven sales and marketing systems: You should expect time tested programs that fit the industry. Good franchisors have effective advertising materials and know what works.

Secret to Success = Culture and Teamwork

1. Simplicity: Franchisors tend to keep their business models simple focusing on what will make you the most money.?

1. Demographics: Good franchisors know the demographics required to support their business model. They will research the territory before awarding a franchise to you

1. Culture and Teamwork: Effective franchisors realize that nobody has all the answers. They collaborate with experienced franchisees to constantly improve their business. Annual conventions, mentors and advisory councils are just some of the ways franchisors support these efforts.

We have helped hundreds of people look at good franchises and what makes a good one is always part of the conversation. We have been doing this for twenty-eight years and have helped hundreds of people find success. Give me a call, email, or text me, I would love to chat with you and help you discover if a franchise is a possibility for you.