By Kelvin Wong
Many entrepreneurs tend to ask pretty
standard questions when it comes to considering franchise business. Some first
floor questions like, “How much money can I make?” “How much will I have to invest?”
“Is the franchise business exclusive?” etc.

ONE. What is the first year operating support?
Most good franchise systems, understanding
how important the first year of franchise ownership is and how likely a new
owner is to struggle, thus providing extra support and coaching. There are all
kinds of ways of offering support. It is very important for any franchisee to
know what kind of assistance he/she will be getting.
TWO. Any ongoing training and development programs
are available?
A good franchise system understands that the
franchisees need to keep their skills upgraded, and franchisees in the system
need to stay abreast of best practices. Simply, ongoing training opportunities
are great for franchise owners to give franchisees the tools to succeed.
THREE. What are the most common problem areas
in the system, and how does the franchisor help solve them?
The test of a good franchise system is not
how well it works with top performers. Indeed, it depends on how it helps
franchise owners when they struggle. Even the smartest and hardest-working
business owners in rock-solid systems run into challenges. When it happens, the
franchisor’s operations staff should be prepared to help the owner respond to
the problem effectively.
FOUR. What types of insurance should I have?
It is important to be protected in case of
accident or natural disaster (this is crucial especially true in food franchise
systems), and one franchise owners should include the expense in the budget.
FIVE. What is the working culture among the
franchisees?
A culture of good cooperation among franchise owners can make the
difference between success and failure, and a good franchise system goes out of
their way to foster good will.
3 comments:
Awesome, these 5 questions are very important and people should have to ask before buying a franchise. In fact, asking questions is very helpful to select the best franchise.
what is a franchise
Good tips for those searching for franchise opportunities like me, TQ
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