Ask the experts
C HARLIE DIC K S ON
Franchise consultant at Ashtons Franchise Consulting
u Investing in a franchise is not simply about buying into the product or service, you are also investing in the people behind the brand. Do they have the relevant expertise in their marketplace? When assessing franchisors, research the company to ensure that you are comfortable with their business expertise, leadership and management experience, capabilities and resources. When evaluating a franchise, the
franchisor should have invested time and money in researching and developing their operating systems and processes. These systems should be tried, tested, documented and proven, as well as being easy to transfer to a growing franchise network. Some important points to consider
include: Trading performance of corporate locations: does the franchisor operate corporate locations and are these outlets or offices trading successfully and profitably?
Differentiation: does the business have unique selling points, clear differentiation and competitive advantage?
Customer and client feedback: Research the business’s customer or client base feedback. Does the business have excellent – or poor –
feedback for its products or services?
Support services: is the franchisor committed to providing and delivering initial training, ongoing support and marketing plans?
Recruitment targets: is the franchisor recruiting new franchisees as per their business plan targets?
Franchise resales: investigate how many franchises have been sold as resales in the past few years and how many are currently up for sale
Meet franchisors: when meeting with franchisors always do so at the head office as this will give you a feel of the organisation, the culture, the people, the business operation and efficiency
Be well prepared for all meetings and demonstrate that you have done your research
Professional advice: we recommend that you assess the franchise by seeking professional independent advice. At Ashtons Franchise Consulting we offer advice and mentoring services for prospective franchisees to support their decision-making process.
bfa membership: is the franchisor a member of the British Franchise Association? If not, does the business have plans to join the bfa?
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