Franchise Sizzle!
The Franchise and Biz Op Blog

Need to check out a franchise real fast to get an idea of whether or not it`s an opportunity you should think about pursuing? Then you`ll want to read this post.

3 Quick Ways to Check a Franchise

1. Better Business Bureau. This will give you a look at whether or not the franchise has had complaints lodged against it. The BBB can be a very useful method of finding out if your chosen franchise opportunity is a dud.
2. Google. Looking up a franchise online will give you instant feedback. While some complaints are normal, no one can please everyone, if you find an overwhelming number of unhappy franchisees, you`ll know to move on.
3. Phone. Call the franchise and ask if you can talk to their franchisees. If they say no . . . walk away! If so, then try calling up a couple of the names they provide you with and find out what the franchisees think of the company.

These quick tips will allow you to find out pretty fast if you should continue looking at the franchise opportunity or not. If your rapid search doesn`t turn up anything unusual or any red flags, then you should move on to the next step, doing some in depth research.

One of the most important things when you are looking at a franchise opportunity is to research it. You need to know exactly what to expect if you decide to go with a particular franchise and the best way to to that is to simply put in the time required to learn what you can about the franchise.

The Franchise: The actual franchise should be able to provide you with a lot of information on itself. You can request information or just ask specific questions. Good franchises will also let you speak to current and ex-franchisees to get a better feel for what you are getting into.

The Internet: Simply Googling the franchise opportunity can bring back a lot of interesting results. You may find reviews of the company and can get a feel for how the customers feel about the business, as well as read up on the experiences of other franchisees.

Better Business Bureau: Make sure you look the company up in the BBB for their state or province to ensure that you aren´t jumping into a franchise that already has too many complaints and warnings against it.

Doing your research on a franchise opportunity is just common sense and it is the best way to find out if a specific opportunity or franchise is right for you. These are just three areas where you can find more information that can help you make your decision.

Franchise opportunities abound. As soon as you start doing research on which franchise to go with, you´ll end up with plenty of ideas and it can sometimes be difficult to decide which franchise opportunities are the best ones to continue researching.

Unless you are one of those lucky people who has just one opportunity leap out at them and they know it´s The One, you will likely find that you have multiple franchise opportunities that sound good to you. The next step is to narrow down these opportunities and find the ones that are best suited to you.

Here are a few things to consider when evaluating franchise opportunities:

• Fees. Often the initial fees will be the same between similar franchise opportunities, but the monthly fees differ. Check this out before committing to one or the other.
• Competition. If you already have a Starbucks in the area, it might be a better idea to look for something besides a Starbucks franchise . . . even if still in the coffee shop industry.
• Support. Which franchise opportunity offers the most support? If you don´t know the industry well, the more training and support, the better.
• Cost. The upfront cost of the franchise opportunities may be the first clue as to which one you want to go with.
• Knowledge. Do you know more about one particular industry? Then perhaps you should consider looking into that area first.
• Time. Which of the franchise opportunities you are looking at requires less time on the jobsite? If you have a family, you may want to choose one with less time requirements.

Evaluating several franchise opportunities at a time can be a bit confusing, so you may want to take notes to help you compare later. Or simply do up a basic spreadsheet with columns for the franchises and rows for the information you are seeking. Then take the time to sit down and look over all the information so you can make an informed decision.

The best way to research a franchise opportunity is to simply ask for more information. However, there are a few ways to ensure that the franchise opportunity that you are looking at is a good one for you. It will take some time and a bit of work to dig up the information that you need, but it´s out there for the finding.

• Write the company. Most have information readily available to send to any interested parties, so don´t hesitate to ask for their information package.
• Look online. You can usually find quite a bit of information and reviews about franchise opportunities online. Don´t believe everything you read, of course, but this should give you a pretty good idea of whether the views are overwhelmingly positive or negative for the business.
• Check the Better Business Bureau. They will be able to let you know if any complaints have been registered against the company or not, which can help you with your decision.
• Talk to franchisees. This one always comes up, but it´s quite true. Existing and ex-franchisees are some of the best people to give you the real dirt on a franchise.

Do make sure that you thoroughly check out a franchise before jumping in. You´ll want to know just what their policies are and exactly what you are getting into, so it´s a good idea to learn as much as possible about any franchise opportunity before you invest in it.

The question on everyone´s mind is which franchise to choose. While you are probably looking at franchises that are based on an industry that you are interested in, most people are also looking at franchises that will be successful. While there is no guarantee that a particular franchise will earn you tons of money, there are a few characteristics of successful franchises.

• History of success. When you look at a franchise and see that it has over 20 years of experience and success behind it, it´s a pretty good bet that you´ll be seeing it in another 20.
• Happy franchisees. Talk to existing franchisees and find out how happy they are with the franchise. This is a great way to find out how well the business is going.
• Good contract. If the contract has been well thought out, you can expect the rest of the business to be well done, also.

A little investigation goes a long way and you´ll be able to see whether or not a franchise has good potential. If they are bad with support or don´t offer much training, you might want to steer clear. A poorly planned franchise, though the actual business may be sound, won´t last too long.

If you do decide to go with a franchise that you aren´t sure of, check your exit options. Can you continue the business if the franchise goes under? Make sure this is clear in the contract right from the start.

Jumping headfirst into a new business, franchise or otherwise, isn´t a good idea without doing a little research first. You´ll find that there is plenty of information available online for anyone interested in a specific industry and it´s a good idea to familiarize yourself with the industry you are thinking of getting into.

Being prepared for the realities of owning a franchise is the best way to ensure success. Too many people assume that this is a surefire way to get rich quick without doing much actual work, but the opposite is actually true. It takes hard work to make any business move ahead and franchises are no exception.

Here are a few ways you can prepare for owning a franchise:

• Read about the industry you are interested in.
• Talk to people who are working in the industry.
• Talk to existing franchisees with the franchise you are looking into.
• See if you can do some work experience with a similar business.

While franchises are considered a shortcut in the business world, that doesn´t mean they are extremely easy. You´ll still want to know what you are getting into!

Franchises make starting a business easy at any age. There´s absolutely no reason why franchise opportunities can´t be ideal for those over the average business age. In fact, it´s a great way to get started in a business without wasting months or even years building your business up to the point of earning a profit.

Instead, you get a business plan that works, complete with a developed brand and strategies that have already been proven. Not to mention all the support you can handle. This, combined with the training that most franchise opportunities provide means you have a very good chance of making the business successful fairly quickly.

This rapid start means that you can actually begin at any age. Even if you aren´t familiar with the industry, it´s usually fairly easy to learn all you need to know via franchise training sessions. These will familiarize you with the industry and prepare you for the life of a franchisee in the industry of your choice.

Just because you´re older doesn´t mean you can´t get into franchises. In fact, this could be the best opportunity you have to set up a business quickly and start earning relatively soon. It´s a great way to ensure you make the most of your life.

When researching a franchise opportunity, it´s very important to look at some specific areas of the franchise. This will let you know if the opportunity is right for you and whether or not the franchise will work in your area.

Need. Is there a need for this type of business in your area? If there isn´t a demand, you´ll find that your franchise opportunity fizzles out and dies. It´s pretty hard to make a go of it with a business that no one is interested in.

Training. What is the training schedule like? A good franchise will give you full on training, not just a manual or something simple like this. On-site training at an existing franchises or in a special training facility is often the best.

Support. Ongoing support and aid when you need it is invaluable in a franchise and one of the main reasons to opt for a franchise, rather than starting up your own business. With support, you´ll be able to solve problems quickly and easily.

Growth. How fast is the franchise growing? Knowing as much as you can about the past of the franchise is a great way to get a feel for where it´s going. A new franchise is going to have very little history, of course, but with longer lasting ones, you´ll see whether the franchise is in demand or not.

Competition. Is there a lot of competition in your area? If so, you´ll want to make sure that the franchise you are going with has something very different or special to offer . . . otherwise, it will be a hard go.

Make sure you research any franchise you are interested in thoroughly. You wouldn´t jump into starting your own business in no time flat and you don´t want to do the same with a franchise.

Does a restaurant franchise sound like fun to you? There are a lot more factors to consider than simply whether or not a franchise opportunity is interesting or in the industry you have experience with.

A good example is the restaurant industry. Are you ready to work holidays, nights and weekends? If you like to sleep all weekend and go to bed early, then a restaurant franchise probably isn´t a good fit for you. While food might be a great interest of yours, it will be very difficult to make a go of it if you have to drag yourself to work each day. And, as a business, franchises are work!

When looking at franchise opportunities, remember to keep in mind that you will be the owner. That means you´ll work longer hours than the employees and have far more responsibility. If you are a person who thrives on schedules and early nights, then a retail store might be ideal. However, for anyone who likes to be flexible and change their schedule easily, a mobile pet grooming franchise might be better.

Pick something that you are interested in, but make sure it fits with your existing lifestyle or you´ll be miserable. And when you don´t like your franchise business, it´s pretty hard to get enthused about it enough to make it work!

Do you have a good idea of how well your chosen franchise will work in your town? Let´s say you´re interested in setting up a coffee house. Take the time to look around your area and see how many coffee shops are already in existence. What do they offer? What´s the difference between the shops already here and the one you want to set up?

Having a clear idea in your mind as to what you are getting into. If there is a lot of competition, you definitely need a franchise opportunity that stands out from the crowd. On the other hand, if there is no competition at all, you might want to find out why. Is it simply that no one thought of the idea before or is there really no demand for it?

Some franchises will actually help you with your franchise market research. They want to be successful, after all, and having you set up in a place that isn´t conducive to business won´t help the master franchise very much.

You may also want to do a poll or talk to a variety of people to find out if they would be interested in your proposed franchise. If you get a largely positive response, it´s a definite sign to go forward. Do your research before investing in a franchise opportunity and you´ll be far more likely to choose one that will actually work in your community.