Talk to Current Franchise Owners
When considering a franchise, it is crucial to speak with current franchise owners to gain insight into their experiences and to help inform your decision. Some questions you may want to ask current franchise owners include the following:
- How long have you been a franchisee?
- How much did you invest in the franchise?
- How much money did you make?
- How much support and training did you receive from the franchisor?
- How much freedom do you have in running your business?
- How has the franchisor handled any issues that have arisen?
- How has the business performed during difficult economic times?
- What is your day-to-day experience like as a franchisee?
- Are you satisfied with the return on your investment?
- Would you recommend this franchise to others?
It's also a good idea to ask for the contact information of franchisees who have been in the system for a while and those who have recently joined so that you can have a complete picture of the franchisor's support and business model.