Committed to Your Satisfaction

Request a FREE Estimate
 

Questions You Should Ask When Considering Purchasing a Franchise
Posted on Wednesday, August 28th 2019

Back to blog listing
Investing in a franchise is a major decision that should not be taken lightly. It’s important to carefully consider your options and find the franchise that best fits you and your lifestyle. Not all franchises are created equal, so take the time, do your due diligence and be sure to ask the right questions!

The Foundation of the Company

While there are probably dozens of questions bouncing around your head, it’s best to start at the beginning. Ask your corporate contact about their origin story — What principles are at the core of the business? How long have they been in business? When did they start franchising? How widespread is the brand today? What sets them apart from their competitors? These questions will help you learn more about the quality of the brand. Finding a reputable franchise that is built upon solid principles is a good idea and can help ensure long-term success.

You should also take the time to thoroughly review the Franchise Disclosure Document (FDD). Don’t hesitate to ask if you have any questions about the FDD, either!

Getting Started

As with almost all businesses, there are going to be costs associated with opening a new franchise location. It’s only natural to be curious about what the start-up costs are going to be. That information ought to be provided, but if you have any additional questions, you should feel comfortable voicing them. Open communication is important in a franchisee-franchisor relationship. That communication should start early on in the process. If you find the franchisor is not responsive or evades your questions, that could be a red flag.

Once you’ve established what it will cost to open your doors, the next question should be regarding the setup process. What training is provided? Is it ongoing? Are there preferred vendors you would have access to? Does the corporate offer support as far as securing your office space? Will you have a direct contact at corporate with whom you can discuss the necessary steps to open your business? There are a lot of questions that will come up throughout the opening process. Having someone you can turn to for help is one of the biggest advantages that come with franchising. Direct support is key.

Life as a Franchisee

The next step is to think beyond the opening phase. Typically, entrepreneurs are looking for a long-term investment. That’s why it’s important to consider fellow franchisees’ overall happiness. Ideally, your franchisor will have provided you with access to speak to their franchisees. Reach out to them directly and ask them about their experiences — what is a typical day like? Are nights and weekends required? How much travel is involved?

Finally, one of the most important factors to consider is franchisee turnover rate. If franchisees are constantly leaving the brand, it may be a good indicator that there are some flaws in the system.

While that may seem like a lot of questions to dive into, it’s important to be thorough. Investing in a reputable franchise, like Fish Window Cleaning, can be the difference between a wise investment and a hasty decision with lasting consequences.

At Fish Window Cleaning, each potential franchisee has the opportunity to ask as many questions as they would like — questions are encouraged! Entrepreneurs are given the opportunity to talk with other franchisees and walked through the opening process step by step. An investment in FISH is an investment in your future.

For more information, visit FWCFranchise.com.