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A franchisor’s support is one of the primary reasons that people become franchisees, but how much support can you expect, and can you be sure that you’ll get it?
It’s not only comforting for franchisees to know that a franchisor has their back, it’s also part of franchising’s safety net. Franchised businesses are far less likely to fail than non-franchised businesses in part because of support. But again, how much support should you expect, and can you count on getting it?
Questions To Ask Franchisors
“Those are two good questions to ask franchisors,” says Dr. John P. Hayes, author of 101 Questions to Ask Before You Invest in a Franchise, an Amazon.com bestseller. Specifically, he suggests that you ask these questions:
• How and when do you provide support to your franchisees?
• Is it online, by phone, in person?
• Is it available 24/7?
• Are there any aspects of the business that you do not support, i.e. hiring employees, IT services, business insurance, legal matters, etc.?
“It’s especially important to know if there are aspects of the business that a franchisor will not support,” continues Dr. Hayes, “because those are areas where you will be on your own. It’s rare that a franchisor would not provide support in all areas of their respective business, but you want to be sure. If you get sued by a customer or a supplier, you may have to hire your own legal counsel, but it would be helpful if the franchisor coached you through the process, or at least helped you identify the right attorney.”
Questions To Ask Franchisees
In addition, Dr. Hayes says there are support questions that you should ask existing franchisees.
“Once you have identified a franchise opportunity that interests you, ask for a copy of the disclosure document. In the back of the document you will find contact information for the company’s franchisees. Use that information to call or visit a half dozen franchisees and ask them questions, including several questions about the franchisor’s support.”
Dr. Hayes suggests you ask franchisees these questions:
• How do you evaluate the quality and effectiveness of the franchisor’s support?
• Is it easy to get the franchisor’s support? Is it immediate?
• Are there any areas in which the franchisor does not provide support?
• Do you call other franchisees to ask for their support?
“In a franchise network,” says Dr. Hayes, “the franchisor is ultimately
responsible for supporting franchisees, but sometimes franchisee-to-franchisee support is more effective. Either way, what you want to know is that support is available!”
You can generally learn more about a franchisor’s support system by attending a Discovery Day. You will probably meet the person responsible for providing support, and that’s your opportunity to ask even more questions.
“The best evidence of support that you can get will very likely come from the existing franchisees,” says Dr. Hayes. “So don’t be afraid to ask!”
For more questions related to support as well as other issues relative to buying a franchise, we’ve reserved for you a free copy of 101 Questions to Ask Before You Invest in a Franchise. Click here and request your copy with our compliments!
NOTE: The link is http://www.howtobuyafranchise.com/101-questions/