Bad performances by other franchisees may affect your franchise’s reputation
Before anyone buys into a franchise ask for a copy of the training plan, this is really important as you need to make sure that the franchise you are buying into has a set plan and more importantly that they stick to it, because if they don’t then due to the other franchisees getting a bad reputation you may lose out on clients.
Equally ask the franchisor what they look for when recruiting a franchisee. What you want to make sure is that they recruit all the franchisees in the same way and don’t just take someone on because they have the money, the dangers of this is if everyone doesn’t want it the same then effort levels are different frustrations can grow and cracks can form throughout the company, and because it is a legal agreement you have signed you will have to be partnered with them for a long time whether you are happy or not.
Also, get a clear idea of how the franchor is looking to grow, this will help identify if they are looking to stay static and take a profit or they are going to be reinvesting into the company so that everyone has an opportunity to grow.
We have recently been through one of the toughest economic downturns in the last century, although no one could have planned for what happened how did the franchise react? Did they pivot and was it effective?
At Sparkle Cleaning one of the first things we did was to bring all of our franchisees together as well as our marketing team to create a new marketing plan for the year and answer any questions they may have. We then increased all our meetings and especially during the first 6 months were sending out almost daily communications so everyone always had the same information.
Make sure that the franchisor follows through on all their promises, even from the beginning did they do exactly what they said they would? Did they call on time? Did they send through that bit of information, if they didn’t do it in the early stages then they probably won’t be doing it later on and therefore how much can you trust what they tell you now?