Founder of Grill’d Healthy Burgers, Simon Crowe has announced ten tips that potential franchisees need to keep in mind when searching for the right system.
“The franchising world is fast-paced, dynamic and full of incredible opportunities but there’s a lot of choice out there so you really need to do your homework and search for the right business fit,” Crowe said.
Crowe’s top 10 tips to help find the right franchise
1. PEOPLE – are everything. Finding the right people to join the Grill’d family is the most important part of the business. We agree that the customer is king but you need the right people on board to treat the customer like a king. Potential franchisees must be a perfect cultural fit and share the same passion.
2. BE PREPARED – to go through a rigorous interview process. Maintaining the Grill’d point of difference is paramount.
3. GET SERIOUS – Going into the franchising industry is not a decision to be made lightly. The set up costs are substantial and you have to be confident that it’s the career for you.
4. RESEARCH – Do your homework and read up on the company you want to buy into. Fees will vary greatly from business to business but you need to be aware of what you could be up against.
5. CONFIDENCE – Have confidence. You need to have confidence in the business model as well as the people leading and managing the growth and direction of the business.
6. ADVICE – Seek out and follow the advice of people already in the business. Make sure you talk to existing franchise owners in the business.
7. BRAND – Verify values and culture of the business you are looking into. Visit a number of the franchise outlets and take notes about the things you like and don’t like about them. It’s important you believe in the brand.
8. PATIENCE – Wait for the right opportunity and don’t jump into anything that doesn’t feel 100 percent right. This includes waiting for the right property, partner and business.
9. ASK QUESTIONS– Is the business profitable? Ensure you speak to existing franchisees in the business you are looking to buy into because it’s important to hear about their personal experiences/challenges firsthand.
10. LOOK FOR GROWTH – Is the franchise in a growth area? Identify the life cycle of the franchise and look for proven results.