One of the top reasons that many individuals look into investing in a franchise business rather than building one from scratch is due to a franchise’s proven business model, expertise and support. When you become a franchise, you would instantly have a competent network of professionals and co-franchisees to help you succeed.
But, every business franchise is different, and the level of support they offer widely differ. In general, however — whether you’re looking to invest in a senior care franchise, sub shop franchise or T-shirt franchise — you could expect more or less the following from your franchisor:
This usually involves on-the-job-training and some coursework. Training could take days to a couple of weeks, depending on the complexity of the operations you need to master.
This would cover franchise operations, from start to finish, so you’ll learn everything you have to know to run your franchise successfully.
In general, most franchisors would give a list of requirements and suggestions for potential locations in order for you to have an easier time choosing a location for your store.
If a franchisor offers building support, this could include instructions for construction and sources for materials. Some franchisors might even aid in ordering materials since your physical space should match their equipment, signage, colors, interior design requirements, and so forth, to a tee.
A majority of franchisors include a comprehensive marketing plan, which includes grand opening promos, promotional materials as well as specific advertising strategies.
In the event that you already have a marketing idea of your own, it’s best that you take it up with your franchisor because in most cases, franchisors want their marketing tasks to be uniform across all franchisees.
Prior to entering into a franchise agreement, make certain you fully understand how the franchisor would support you. Speak with a potential franchisor to get a clear idea of what you should expect.