In simple terms when you buy a franchise you pay an initial franchise fee and ongoing royalties to the franchisor. For this fee and royalty payment you have the rights to use the franchise business system, sell its products and services and use the company trademarks. The franchisor also provides ongoing business support and a prescribed marketing program. The level of support offered by franchises differs so be sure to do your due diligence and align yourself with a franchise system that offers the level of support that you as an individual business owner will need. Franchising is a great way to launch your own business. Before you hand over your hard earned money for a Home-Based Franchise in the Pet Industry, perform your due diligence and get the answers to the following ten questions.
- Is the business model scalable and will the franchise opportunity allow for multiple streams of income? The answer to this question will help you determine whether buying the Franchise Opportunity means you will be self-employed or a business owner.
- What is the total investment required to open your franchise? Understand and reconcile all the franchise fees so you are aware of the full cost to you
- What is covered in franchise training? Ask about the franchise training, how long the training is, where the training is performed, who is conducting the training, where you will stay and what kind of expenses will you incur during the training period.
- Does the franchise offer a purchasing and fulfillment system? One of the benefits of joining a franchise is being part of a business community that has the power of many
- Are the franchise systems proprietary? Find out if the franchise system includes customer service data base management systems and other proprietary systems.
- How will the Franchise and Franchise owners stay current with industry developments and innovations? When purchasing a pet care franchise recognize that the industry is continually developing so any Franchise business you may be considering should have a process to help you stay at the forefront of the industry.
- What is the website presence like for the franchise and are you provided with a landing page to promote your locally owned business? A marketing driven service business must have strong web presence not only for its corporate office but for each of its franchise owners.
- Are you provided with the use of a unique toll free number? A strong toll free number adds value to your franchise, especially a vanity number.
- When you purchase your franchise are you provided with a franchise start up package?Make sure the franchisor provides you with a start up package with everything you need to open and launch your business.
- What is the Franchise Marketing Plan. The greatest products and services in the world will not succeed without an effective marketing plan. Determine how extensive the franchise prescribed marketing plan is
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