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Top 5 Tips When Buying a Franchise – No. 3 – Access to the network

When in the process of evaluating your franchise opportunity, make sure the Franchisor gives you permission to speak to any Franchisee in the network. Do not be steered by their preferences for you to speak to their top performing branches.

Whilst tempting, a good Franchisor will be happy for you to speak to all Franchisees at your request. Ensure plenty of time to undertake this important part of your due diligence. Try to speak to as many existing Franchisees, understanding what business is like on a day-to-day basis and also how much cross collaboration exists etc. Ask how frequently the whole business meets, the style of those meetings and Franchisee engagement. Speak to a range of support staff across the Franchisor’s business.

Your day-to-day engagement will be across this support team. Understand how Franchisees grow their business and what effort they put into marketing. Check the systems and processes in place to help win and retain customers. Clarify with Franchisees the most effective marketing channels and level of return you might expect.

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