What Should I Expect From the First Call With the Franchise Company?
Jack Armstrong
Senior Franchise Consultant helping clients purchase the right franchise or existing business
The first call with a franchise company is a crucial step in your franchising journey, serving as an initial screening for both you and the franchisor. Here’s what you should expect:
Overview of the Franchise
1. Expect an overview of the franchise, including its history, mission, and values. This is your opportunity to understand the brand's identity and market position.
2. The franchisor should explain the business model, highlighting how the franchise operates, the support provided to franchisees, and the key factors that contribute to the franchise’s success.
Initial Investment
3. You’ll receive information on the initial investment required, ongoing fees (such as royalties and marketing fees), and any financial performance representations, if available. This discussion will help you assess the financial viability of the franchise for your situation.
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4. The franchisor will outline what they look for in potential franchisees, including financial qualifications, experience, and personal qualities. This helps ensure a good fit between you and the franchise system.
5. Be prepared to ask questions about aspects of the franchise that are important to you. Also, share any concerns you might have. This is a two-way conversation meant to address preliminary inquiries.
Discovery Process
6. If both parties are interested in proceeding, the franchisor will outline the next steps in the discovery process. This may include completing a formal application, scheduling a discovery day to meet in person, or reviewing the Franchise Disclosure Document (FDD).
The first call is essentially an introductory conversation meant to exchange basic information and gauge mutual interest. It’s an opportunity for both you and the franchisor to ask preliminary questions and determine if there’s a potential fit before diving deeper into the franchising process.
I can help you figure out what is the best fit for you. I have been doing this for twenty-nine years and have helped hundreds of people find success. Give me a call, email, or text. I would love to chat with you.