WHAT ARE THE CRITERIA FOR SELECTING A FRANCHISE?

Before buying any business, you must carefully consider many factors that are critical to your success:

• COSTS

  • How much money will this franchise cost before it becomes profitable?
  • Can I afford to buy this franchise?
  • Can I make enough money to make the investment worth my time and energy?

• YOUR ABILITIES

  • Do you have the technical skills or experience to manage the franchise?
  • Do you have the business skills to manage the franchise?

• DEMAND

  • Is there enough demand in your area for the franchisor's products or services?
  • Is the demand year-long or seasonal?
  • Will the demand grow in the future?
  • Does the product or service generate repeat business?

• COMPETITION

  • How much competition do you have, including other franchisees?
  • Are the competing companies / franchises well established?
  • Do they offer the same products and services at the same or lower prices?
  • Is there a specialty or niche you can capture?

• BRAND NAME

  • How well known is the franchise name?
  • Does it have a reputation for quality?
  • Have any consumers filed complaints with the local Better Business Bureau?

• TRAINING & SUPPORT

  • What kind and how much training and support does the franchisor provide?
  • Do existing franchisees find this level of training and support adequate?

• FRANCHISOR'S EXPERIENCE

  • Has the franchisor been in business long enough to have established the type of business strength you are seeking?

• EXPANSION PLANS

  • Is the franchisor planning to grow at a rate that is sustainable?