A sound tip for franchisees is that when it comes to meeting a franchisor, part of your due diligence is making sure you understand all the ins and outs of the business. The franchisor will likely have presented you with material related to training, research and development activities, and purchasing programmes, for example.
Listen carefully to what they tell you and ask questions about how these systems operate. Be sure to ask about the franchisor’s staff at head-quarters, particularly about their experience and abilities, as they will be the ones supporting you. Since many franchisors require a marketing fee over and above royalties, find out how these are put to use and their effectiveness.
As your relationship with the franchisor progresses, be sure to ask about their existing franchisees, problems or challenges they may have experienced and how these were addressed. These are just a few of the many questions you need to ask, so do your homework on the company, and if your gut is telling you something, be sure to ask so you can confirm or put your suspicion to bed.