10 Questions to ask a Franchisor
Posted on 10th May 2023 at 10:50
Thinking of becoming a Virtual Assistant?
Considering investing in a franchise rather than going it alone?
So you're thinking of becoming a Virtual Assistant business owner and are considering investing in a franchise rather than go it alone (good choice!). You may be considering more than one option, so here are some useful questions to ask as part of your 'due diligence'.
1. What are the fees and costs associated with the franchise, and what do they cover?
2. What kind of support and training do you provide to your franchisees?
3. What is the typical timeline for opening a franchise location, and what is involved in the process?
4. How is territory and market exclusivity determined, and what protections does the franchisee have in these areas?
5. How are marketing and advertising efforts managed, and what is the franchisee's role in these efforts?
6. How are disputes or disagreements between the franchisor and franchisee handled?
7. How has the franchise system performed in terms of revenue, profitability, and growth?
8. What kind of ongoing support and resources will be available to the franchisee after opening?
9. What are the minimum requirements for operating the franchise, including staffing and technology?
10. What are the long-term goals and plans for the franchise system, and how will they benefit franchisees?
We believe passionately that the relationship between franchisee and franchisor should be completely transparent. Trust and respect forms the basis of our business and so we always encourage potential franchisees to ask as many questions as they like.
For us, it goes deeper than seeing our franchisees as business owners. Many become friends, and view joining our franchise as like joining a 'family' of like-minded people who support each other to create that optimum balance between work and home life.
If you'd like to know more about joining our Pink Spaghetti 'family' as a Virtual Assistant business owner, do get in touch.
Share this post: