Window Cleaning News

10 tips to choosing the right franchise opportunity

Monday, September 21, 2015

Choosing to open your business with a franchisor is usually a great idea. You get to be your own boss, work your own hours, and do it all with the benefit of an existing name! When you set up any business though, you have to be careful. Here are 10 great tips for choosing the right franchise opportunity.

  1. Choose a Great Business Structure

    There’s no point taking on a known name if their business structure isn’t going to work for you. Maybe you need a job that guarantees flexible hours or maybe you can’t afford to take on a lot of overheads. By choosing the right business for you, you can promote success, and just as importantly, happiness at work.

  2. Speak To Other Franchisees

    Before you jump into any opportunity, talk to other people who have taken on the franchise name and people who have taken on other franchises. You’re sure to encounter some horror stories but you will hear of plenty of great successes too. Narrow down the field to a team who produce successful franchisees.

  3. Opt for Extra Education

    When Pink Floyd sang “We don’t need no education” they clearly weren’t talking about franchisees. You always want to choose a franchise who will support you in getting training. Imagine buying a mechanics franchise and knowing nothing about cars!

  4. Count the Costs

    When you join a franchise you want to count your money but you should do the due diligence and count your costs too. What are the overheads like? How much equipment will you have to buy and what is provided? Always consider these costly questions!

  5. Measure the Man Power

    Said simply, is this a business you can run on your own? If not, what are the franchise arrangements and industrial agreements that you need to abide by when hiring staff. Always remember, people are your greatest asset.

  6. Is There Specialist Support?

    You need to consider if your franchisor will support you along the way. Running an ice-cream business doesn’t just mean understanding your flavours, it means knowing about marketing, accounting and much more. This is the same with any franchise opportunity.

  7. Do You Need Specialist Knowledge?

    There’s no point getting trained up in a particular industry if you needed 2 degrees just to understand the training. Make sure you enter an industry that either doesn’t need prior experience or that you are well suited to!

  8. Get the Knowledge

    Always make sure you request preliminary information from a franchiser before jumping on board. This basic information might be as simple as a brochure or a video but it will give you an insight into the business and show their openness and trustworthiness.

  9. Self-Assessment

    It doesn’t matter how good a business is if you’re not ready to take on the responsibilities. Always remember to think before you leap and consider exactly where you are at personally.

  10. Look for Proven Performers

    Businesses need to be able to perform in good times and bad and so you should look for a proven business over many years. Make your business recession resistant!

If you want to join a franchise that ticks all these boxes and more, consider See Thru Cleaning. Contact our office on 4323 7917 today.