When you’re thinking about joining a franchise, it’s a big commitment. Usually the service contract will be around 10 years and sometimes longer so it is very important that you do a full research and make your decision based on whether you think you can work with the service company. master franchise during that time period and if they understand and have a passion for the franchise itself.
Is it okay for the franchise?
Some people will work best in a fully self-employed freelance role or as an employee. The franchise model is not for everyone and if you are committing your time and money, you want to see it succeed. You will have to take an honest look at your own skill set to see if they will apply to the available roles.
Pick an industry
It is absolutely vital that you work in an industry that you are passionate about. If you don’t, you just won’t be interested. Think about whether you want to offer a product or a service and how the franchise will be structured. If you want to work outdoors, work with people, build strong working relationships but be independent, a mobile coffee franchise opportunity might be the right fit for you, as long as you love coffee!
know the business
It helps to have used the business before. This may be a particularly good experience you had that sold you the product, or it may be that you need to start visiting a lot of franchises to get a good idea of what’s out there.
For example, if you are considering coffee franchise opportunities, start by going to a lot of franchises. Try their products, see what the services are like, and if you can talk to existing franchise partners. They will be able to give you the best insights into what it is really like to run one of the coffee franchise opportunities. Ask questions like ‘Would you think about renewing your contract?’, ‘Have you ever considered leaving?’ and ‘what other franchises did you look at before choosing this one?’ These questions will help you with your research and may lead you to investigate other areas that you may not have considered before.
Talk to the franchise
Your next port of call is to talk to the franchisee about what the franchise agreement entails and what you are looking to get out of it. Where do you want to take your business? Coffee franchise opportunities work on a territorial basis so your van shops don’t compete for business. If you want a coffee franchise opportunity too close to one of your existing partners, you may be out of luck and have to go back to the drawing board. The franchisor will be able to offer alternative locations that would be better for them, although this won’t necessarily fit into their plans, so it’s best to have a frank and honest conversation about exactly how you want your coffee franchise opportunity to operate.
