Frequently Asked Questions
Here are some frequently asked questions, but we will be delighted to answer any other questions that we have not covered so either give us a call or click here
Why use Franchise Connections and not go directly to the franchisers?
Quite simply to save time, money and potential aggravation! Our service is free. Your franchise fees or business purchase price will not be greater if you choose to use our service. We provide all the information a potential business owner needs to find the opportunity that fits their goals, plus we already know many of the safest, strongest and most lucrative opportunities in business today, a task that can take months for someone outside the industry.
We will educate you in the intricacies of franchising. Franchisors will tell you the advantages of their franchise, but the Franchise Connections will also identify any disadvantages that should be considered. Franchisors will tell you how great their franchise is, we will help you gain a balanced and objective view of the franchisor’s quality and opportunity.
How much does it cost to use the services of Franchise Connections?
You don’t pay for the services that we offer. You will pay the published price for any franchise just as if you had gone directly to the franchisor. We do of course have to recover our costs and make a profit and in most cases the franchisor absorbs our marketing costs. Why? Simple, the franchisors respect the processes we follow and recognise the quality and fit of clients we refer to them after our consultations are complete. Franchise Connections is uniquely able to provide a win-win scenario for the investor and the franchisor.
How will Franchise Connections find the best franchise for me?
Our goal is to find an opportunity that will meet the specific needs of each individual we work with. To do this effectively, we first have to learn what those needs are. We will ask you a series of detailed questions. Some sample questions you will be asked are:
- What are your reasons for wanting a business of your own?
- Have you ever owned a business of your own?
- What hours do you like to work?
- Where do you want you business to be located?
- How do you feel about managing people?
- How much capital do you have to start a business with?
- Will you have partners? - Do you want to build multiple units?
- How soon do you want your business to open?
- Will you be involved on a full-time or part-time basis?
These are just a few of the many issues we will discuss with you over the course of our consultation process. With this information we can create a personalized profile and model for you to use in evaluating opportunities. We can also usually match our clients with a few opportunities that have characteristics consistent with the ones they’re looking for in order to save time and effort in the process. Sorting through the over 5,000 world-wide franchise opportunities can be a long, confusing process.
Many people spend months sorting through companies without ever finding an opportunity that has what they really want in a business. We can help!
We’ve done a lot of the homework for you. We have pre-screened hundreds of companies from all areas of business. They must meet the exacting standards we have set to be included in our inventory. We do all of this so we can offer the franchise opportunity that will be the “perfect fit” for you.
What is involved in finding the right franchise for me?
Step 1 - Contact Us
Remember, our services are provided at no cost to you! Take the first step towards owning your own business by filling in the Contact Us form in our website. Once that has been submitted, one of our franchise consultants will contact you to verify your information. During this initial conversation with our Consultant, the Franchise Categories and investment levels that interest you the most will be discussed.
Step 2 - Consultation
This could be face to face or by telephone with one of our consultants and we will be discussing your background and goals in finding the right franchise for you. Understanding your particular goals and needs will allow us to find the best business opportunity for you. We will also need for you to fill in a pre-qualification questionnaire that will help us get more information on your background, employment history and financial situation. We will set a follow up an appointment to present you with opportunities that fit your requirements.Step 3 – Research
Based on the information that you provide us including your experience, stated goals and needs we will research available franchises and match their models and requirements with your goals and preferences. With thousands of franchises available worldwide, our goal is to identify for you 3-4 franchises that match your requirements so that you can then find the “right” franchise for you.Step 4 – Presentation
We present you with the opportunities that we have identified during our research. If any of the opportunities are of interest to you, then we will arrange an introduction directly to the representative of the franchise.You will gain valuable knowledge on each of these great business models. Expect to hear about some exciting, brand name franchises, in the categories you expressed interest in. Keep an open mind, evaluate all the business models, compare and contrast them and be careful not to discount a business until you have all the information. Often the first glance at a business does not paint the whole picture. Learning the numbers and examining the operation of a business is likely to reveal some impressive potential that you may, at first, overlook.
Step 5 - Introduction to Franchisor
For each of the opportunities that you have an interest, we will facilitate an introduction to the Franchisor. The Franchisor will send materials to help you become acquainted with their franchise opportunity.Step 6 - Review of the Information sent by Franchisor
We will discuss information sent to you by the franchisor and will help you digest this information and identify the questions that you should focus on when talking to them. Once you have received a prospectus or other documents from a franchisor, you will need to thoroughly examine the contents and seek answers to any questions you may have. You should also satisfy yourself that any financial projections are genuine, achievable and will meet your aspirations. We will happily assist you in finding the answers to any questions.Step 7 - Attend a Discovery Day
Most franchisors have a Discovery Day, where they will invite you to their location. You will not only get crucial information for your decision, but will get to meet the staff that will be providing your initial training and continuing support. If they don’t have discovery days you should still spend some time at their site and get a good feel for the business. Be sure you understand what is involved day to day and ensure it is something you would enjoy doing.Step 8 - Call Franchisees
The Franchisor should provide you a list of several franchisees for you to call to ask questions about the franchise opportunity. Obviously, the Franchisor is going to give you a list of franchisees that are successful and have positive things to say about the franchise. You should contact these references and ask them why and how they became successful. Then you need to determine if you can do the same things that they did to be successful. You should also use the franchisors website to identify additional franchisees that they did not provide contact details for and talk to some of them also.Step 9 - Consultation with Lawyer and Accountant
You should always consult with an lawyer and an accountant before making a decision. It is important to insure that both people have a good background in franchising. If they do not, then the process may be more costly and time consuming while they do their research.Step 10 - Decision Time
You have taken all of the steps up to your Decision time. Congratulations if you have decided to buy a franchise. You have become a “Frantrepreneur”, a cross between a traditional entrepreneur and a modern franchise owner, a person that possesses the desire to be a business owner, without having to reinvent the wheel. Now, you will be able to own your business while minimizing risk by buying a proven business opportunity. We wish you well.
Why should I buy a franchise?
Franchising offers individuals the opportunity to be in business for themselves, but not by themselves. The Franchisor is there to provide support with all the different functions of the business. They have seen the issues that can arise in their business and know how to deal with any problems effectively.
Prior to your opening, they provide extensive initial training and support so you’re well prepared to handle whatever comes. They can also provide advertising and marketing support to help build your business faster. The most significant benefit to franchising is the reduced level of risk. This comes from a franchise system’s proven method of doing business.
Is financial assistance available?
Financing can be a major hurdle for any potential franchisee. Start-up costs can reach a high level and it is essential that the franchisee have adequate working capital. It is important to address any financing issues during the investigation of franchise opportunities. The best source of information about financing options for any franchise is the franchisor. Once again, we are dealing with an issue that the franchisor has addressed numerous times with other franchisees and they will have a good deal of information about the practical options that are available.
How soon can I get my business started?
This depends almost completely on you. The franchise consultation process can be completed easily within a few days if you are responsive and motivated. After you begin investigating opportunities, most clients can find a great match for them within one to three months. After you select the right business for you, it will typically take anywhere from 2 weeks to 6 months for your actual business to open for operation.
Do I need specific industry experience to successfully own a franchise?
No, in fact most companies are looking for people with no experience in their industry. This is often because either the business is a simple one to learn and repeat or they want their business operator to focus on running the business and not being actively involved in the business. Franchisors need people who can be effective in areas such as motivating employees, generating sales, and running the day-to-day operations as efficiently as possible.
