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? Fundamentally this is the process of determining what you would be good and what would fit your abilities, financial parameters, lifestyle objectives, location preferences. In other words, before looking at any franchises, you must first figure out what are the characteristics of your perfect franchise.
The way we do this involves two parts.
Part One – Completion of a confidential questionnaire. This questionnaire is designed to identify basic information regarding your current situation and it gives us a chance to talk through any challenges that might need to be overcome. This is a first screen where we discover whether franchising could be right for you. If franchising is not right for you, we will tell you immediately. Also visit The Franchise Coach Pledge.
Part Two – Next we move on to the consultation. The consultation is basically an interview. It normally takes between 60 to 90 minutes and can happen both in person and over the phone. Seeing as we work with folks all over the United States, the majority of consultations are conducted over the phone. Done correctly the consultation will allow us to systematically identify what is important to you in this decision. The information that you share will be formalized in a model that we will create for you. This is a personalized document that outlines your box and can be actively used to measure ideas against.