When you’re thinking about purchasing a franchise, there are probably many thoughts and questions on your mind. Is this going to be a lucrative investment in the long run? How successful are the current units within the franchise? In what location would the franchise unit thrive? With so many things to consider when you want to invest in a franchise, it’s easy to feel overwhelmed. We’re here to help! Here are some of the most important questions to ask a franchisor when you’re considering purchasing a franchise.
- How Successful is the Overall Brand? This is a vital question to ask. Ask for details about current location success and forecasts for the future.
- What is the Timeframe for Units to Become Profitable? Every new franchise unit has a “startup” period in the beginning, a time when it isn’t profitable or isn’t as profitable as it will be. That’s to be expected, but the franchisor should have some solid projections for when that should start to shift in your favor.
- What are the Responsibilities of the Franchisor? You need to know what the franchisor can and will do to help your business get off the ground. After all, your success is their success, so they’re most definitely interested in your location prospering. Ask about the various support the franchisor will be providing in terms of getting your new location up and running as well as continued operation.
- What are the Responsibilities of the Franchisee? It’s important to define the expectations placed upon your shoulders as you contemplate if franchise ownership is the right move for you.
Purchasing a franchise could be the best move of your professional life. When you invest in the right franchise, the potential for an amazing ROI is very real. Are you interested in learning about purchasing an Ori’Zaba’s food franchise? We’d love to talk with you more! Contact our team today!