Without a doubt, talking to and getting the opinions of several franchise owners in the same franchise business that you are considering investing in, is a vital part of evaluating a franchise. This first step is important not only to get much-needed insight into the positive aspects of operating a franchise, but also to protect you from investing in a franchise scam.
As a matter of fact, once you have developed an initial interest in a franchise, the first step should be to visit several actual franchisees and spend as much time as possible there. Some people might even go as far as seeking a job in the franchise in order to learn the business from the ground up. However, all you need to do is to approach the owner of the franchise and tell them that you are considering buying one of these franchises in a non-competing location and you’d like to get his/her opinion of the overall franchise experience.
See how forthcoming they are with some general questions before raising more specific, revealing issues.
Once you have studied the franchise agreement, you should approach franchisees and get some answers to basic questions such as the following:
Feel free to add to this list as you see fit. Every area of the country will be different and you’ll certainly have some more specific questions to add.
As a nationally recognized franchise attorney, I can help you in all aspects of selecting and setting up the franchise that you have found to be right for you.
Call franchisee lawyer Mario L. Herman today.