Franchise Consultant - 25 Years Helping People Create More Freedom, Flexibility & Financial Independence for Themselves & Their Families Through Franchise Ownership
Today's quick video offers advice on validating with current franchisees. Bottom line: it's not the franchisees' job to talk you into becoming a franchisee! The video will offer more context. 😀 #franchiseopportunities #franchising #careertransition #accurateexpectations
Great advice for more than just deciding on a franchise. Getting multiple perspectives is so helpful. What questions do you recommend people ask franchise owners when looking at that franchise opportunity?
This is excellent advice! I think it's important for prospective franchisees to ask the right questions so they can make an informed decision. What other tips do you recommend for validating franchise opportunities?
Sound advice, Eric Little. When I started my journey into Financial Services with Edward Jones, I visited almost every Edward Jones office in my county to ask them about the job and the company. I got a great start to my career!
Great message Eric! Each person will come with his/her own experience and personality and no one should sway you one way or another. You'll want to see what makes them successful and like you said, that the model works and is achievable.
Eric Little, I think this is an important point that people, in their excitement, lose sight of. Vet many franchisees to compare and contrast. And KNOW if this is your passion. Great video!
Look at that picture perfect background!
You're right, Eric Little. In fact, never use the names given to you by the franchisor, put that list aside. Use the names, numbers, addresses, of every Franchisee you can reach listed in the FDD. More over, be certain to speak to those who have exited, transferred, or were terminated. Research litigation that the franchisor has been involved in, who the participants are or were, reasons for the litigation, and outcome if one has been established. DO NOT rely only on litigation listed in the FDD as there are those who, in violation of the FTC rule, do not list all of their litigation. Dive deep.
I agree with you that it is not the job of franchisees to talk someone into becoming a franchisee. Instead, it's important to research the industry and make sure that you're fully informed before you invest in a franchise.
Definitely know more about Franchising and if this is what 'real business ownership" means to you.
CEO and Portfolio Executive development - MAKING YOUR FUTURE WORK with Freedom, Joy and more opportunities to offer Love to those around you.
1yValidating with current franchisees is a crucial step in the franchise decision process. Could you share some key aspects or questions potential franchisees should consider when seeking validation from current franchisees?