Franchising essentials: Understanding the franchisor’s vision [video]
Starting any business is fraught with financial risk, but as many systems will tell you, that risk is greatly reduced with a franchise model.
Franchisees opt to invest in franchises for a number of reasons, such as enhanced business support, proven structural processes or easier access to finance.
However, there is ultimately one factor that plays a role in determining the potential of a franchise opportunity; the franchisor’s vision.
Understanding what your franchisor plans to do with the brand, how they are responding to current and future market conditions and charting their commitment to innovation will provide you with a snapshot of how the business is expected to progress over the foreseeable future.
Together with Jason Gehrke, founder of the Franchise Advisory Council, we put together a short clip on how you can make sure your franchisor has your best interests in mind, before you seal the deal.