The franchise meeting is a strange meeting in some respects. Many potential Franchisees make the mistake of believing that the franchisor is only after their money and that they are interviewing the franchisor. In reality the franchisor is equally concerned to ensure that they get the right person that will become an important part of the team and someone that he can work with on a long term basis.
The franchisor has to be satisfied that the potential franchisee is capable of running a franchise and of representing his brand in the marketplace. He or she have to be satisfied that any prospective franchisee will follow the system and will be a good representative of the company. No franchisor will want to take on a franchisee if they are not absolutely satisfied that they will meet their criteria both in terms of skill and aptitude and drive.
Equally, you have to be absolutely satisfied that the opportunity is right for you. That process starts with self assessment. Some of the areas that you carefully need to examine are as follows:
Do I understand franchising?
Am I prepared to follow the franchise system even when the going gets tough. Research has shown that a high proportion of franchise failures are caused by the franchisee just not following the system?
Do I have the financial resources to allow the business to grow?
Am I prepared for long hours and sometimes unsocial hours?
Are my family prepared for my self employment and how will it affect them?
Do my family support the business venture and can they help?
What transferable skills do I have?
What aspects of your current or previous jobs give you most job satisfaction and why?
Am I single minded enough to keep going?
There are many questions that you could ask and we have seen lists amounting to over 100 questions that are recommended. In reality you need to break your questions down into sections and ensure that you get answers to the questions that are important to you..
The Franchisee role
Support and training
Development of the Franchise
The management team experience
The Franchisee Role
What is exactly the role of the franchisee on a day to day basis?
What skills are needed and do you possess them?
If you do not have the skills are they covered as part of the training programme.
Is the role one that you feel confident that you can be successful in ?
Do you see yourself being happy in this role.