The decision to franchise is a big one. Are you asking the right questions? Over the last few years so many “drop ins” have entered the franchise development industry. Be watchful of deception out there and make sure you are talking with franchise developers. You need to ask the right questions about franchising to ensure that these companies are capable of providing everything you need to successfully launch your franchise system. Do your due diligence. Here are a few questions to ask that will help you to scrutinize the companies you are talking with so you can get full details on who they are and what they offer. You may need to really dig to get to the truth! Not everyone is as transparent as The Franchise Maker!
Common Questions about Franchising
Do other companies post real clients on their website? Flashing a bunch of logos on a website is impressive, right? Well, maybe, maybe not. Are these their clients or just logos of franchises? Did they actually setup these franchise companies from start-to-finish? Note: The Franchise Maker only displays businesses that we have taken to franchise from start-to-finish (visit our clients page for a list of businesses that we have franchised). There is no smoke and mirrors with us. We are NOT trying to fool you by flashing up a bunch of logos from companies we did not franchise.
Are all documents prepared in-house? Some companies will use templates for the Franchise Disclosure Document (FDD), which means your business is forced to fit into the mold of this template model (check out our article on the topic of templates and why they are dangerous). The Franchise Maker creates every FDD from scratch and each document is reviewed not just by an attorney, but a franchise attorney. Every business is different and we capture those details thoroughly, creating customized documents that correctly reflects YOUR business model (see our custom approach to franchising your business).
Do these companies double as franchise brokers? You will inevitably find a few companies that will offer not only to franchise your business, but they say they will also sell your franchise when done. Be careful! Not only does this present a conflict of interest, but it may suggest some other behavior that is undesirable, such as lead recycling or an equity-interest requirement (read more on the topic of franchising companies that want to develop your franchise and also sell franchises for you). Note: at the Franchise Maker, we focus on one thing and one thing only: “Franchise Development”. We not only prepare all documents necessary so you can offer franchise opportunities nationwide, we provide you with all the training, resources and tools you need as you evolve into your role as a franchisor (learn how we help franchise your business the right way). Our intentions are clear and not muddied by brokering or commissioned sales.
The goal of this article is to arm you with the right questions about franchising to ask so you can make an informed decision. Consider this: If you think it is expensive to hire a professional… wait until you hire an amateur.
If you’re serious about franchising your business and want to do it right, contact The Franchise Maker by calling us directly at 1-877-615-5177 or simply send us your contact information. We will answer all of your question about franchising your business, help determine if franchising makes sense for you and get you on the right path.
