How do I tell if a franchise system is really successful (or not so successful)?
Answered by Rod Young from DC Strategy
Look beyond the brand and the advertising and marketing material to the substance of the success or otherwise of existing franchisees.
The best way to do this is to meet a good cross-section of franchisees and ask them a few simple questions such as:
• Are you making the return on your money and time that you expected to when you started the franchise?
• How has it affected your family life?
• Are the majority of franchisees doing well?
• If you had your time over again, would you still buy this franchise?
• Are you interested in selling – and how much?
Consider their answers and also the presentation and type of people who you have met. They often reflect the quality of the franchise system and ask yourself, “Do I want to work with this group of people as a colleague?”
The best way to do this is to meet a good cross-section of franchisees and ask them a few simple questions such as:
• Are you making the return on your money and time that you expected to when you started the franchise?
• How has it affected your family life?
• Are the majority of franchisees doing well?
• If you had your time over again, would you still buy this franchise?
• Are you interested in selling – and how much?
Consider their answers and also the presentation and type of people who you have met. They often reflect the quality of the franchise system and ask yourself, “Do I want to work with this group of people as a colleague?”
About Rod Young
Rod Young is an Executive Director at DC Strategy. DC Strategy is widely recognised as the region’s leading Strategy, Franchising and International consulting group. DCS has developed the networks and brands of many of the region’s most successful businesses.
You should always check independently that an ask an expert answer published on Franchise Business applies to your particular circumstances
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