A System to Explore Franchising

As you know, franchising is all about systems. When you buy a franchise, you purchase the right to use the franchisor’s ‘operating system’. If the system is well established and proven over time, then the proven system will reduce your risk and increasing your likelihood of success. In a nut, that is what franchising is all about.

Well, investigating a franchise is exactly the same. Following a proven, well developed investigation system allows you to gain more information, more effectively and with more reliable results. In many ways, the process we use is similar to the process used by a skilled real estate agent or executive recruiter. Our job is to be your guide, a franchise coach, as you work through the franchise search process. Done correctly, our approach is a highly effective way to learn everything you need to know about a franchise and to prepare yourself for success.

A Franchise Coach follows the principles found in the best selling franchise books – The Educated Franchisee and The Franchisee Workbook. As we work together, we will step you through the discovery process so you feel 100% comfortable with you final decision. This approach has been proven effective for over a decade and across thousands of individuals. By following our due diligence system, you will be able to comprehensively educate yourself and make an astute business decision as to whether ANY franchise opportunity is right for you. Best of all, the system is highly personalize and completely free.

The system is divided into five steps as follows:

Step 1– Build Your Box. As discussed in Chapter 4 of the Educated Franchisee, there are many ways to begin the discovery process – most ways are wrong. Prior to clicking on web links or contacting franchisors, it is essential that you determine what your box looks like. So, what exactly does ‘building your box’ mean? …. Learn More…

Step 2– Target Franchisors. The first step assists us in determining the characteristics of the perfect franchise. The second step focuses on identifying franchises that could potentially allow you to achieve your objectives. There are literally thousands of franchise companies in the United States today so narrowing down the field to a few, well screened ideas, is critical. …. Learn More…

Step 3Become a Student. The third step is franchise research. Each of targeted franchise systems will have a franchise exploration process designed to educate you regarding their concept. Seeing as this is a mutual elimination process, it is important that you follow their system – this way they know you can be a team player. At the same time, it is critical you know what you are doing and make sure you cover all your bases. That is where we can help. … Learn More…

Step 4– The Toughest Part. This is the last step in the process and for many people it is the hardest step. The last step is to make a decision. After Discovery Day, both parties generally spend a day to gather their thoughts. Generally the franchisor will then contact the prospective franchisee and inform the prospective franchisee as to whether they wish to offer a franchise. Should the offer be made, the prospective franchisee would then inform the franchisor whether they wish to accept the offer. Sounds easy, but in reality it is the hardest part. . Learn More…

Step 5– Staying in touch  Even though our active role in your exploration process is done, we hope to stay in touch as you build your business. You will have good days and you will have some challenging days. We are here for you. There is nothing we want more than your success and if we can provide advice, guidance or coaching as you build your business, we are excited to do so. Learn More…

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