Making A Match With Franchisees And Franchisors

Salt Lake Tribune:

Jodi Rowell, a Syracuse-based consultant for MatchPoint Franchise Consulting Network, says with more than 3,500 franchises nationwide, the search for the right one can be daunting.

What are some questions a potential franchise owner should ask before making an investment?
Do I have enough money? It is one thing to have enough money to purchase a franchise, but another to have enough money to support yourself until the business can start producing some cash flow. Also: How strong is the franchise company? People considering franchising should choose a company that’s focused on long-term growth and have several programs in place — such as a marketing fund to increase brand awareness on a local and national level and a mentoring or coaching program to answer questions and concerns — to help franchisees succeed. Another question is: Can I follow a system? Following the proven model is the most important factor in franchising. Many new franchisees think they know more than the company and try to change the process. Abandon this mentality immediately. And: Am I comfortable marketing and selling my business? Many people are uncomfortable with this aspect of the business and choose not to do it. When you don’t do sales, however, sales don’t come in and the business suffers. Choose a business that suits your sales aptitude or be prepared to hire someone who can complete these tasks.

What type of experience does one need to become a franchise owner? Read on…

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