Have you read my book, yet?
(That’s me, at a Cleveland, Ohio Barnes and Noble.)
If you have, surely you remember all 40 questions that I included for you to ask franchisees of the franchise business opportunity you’re looking into, right?
Well, if you;
A. Haven’t bought my franchise book yet
B. Don’t remember each and every stellar question that I included–don’t worry; I’m going to refresh your memory.
When it comes to doing franchise research, you have a few choices going in;
1. You can wing it. In other words, you can figure it out as you go. (That sounds like a great plan, huh?)
2. You can go online, or even head over to your local library, and see what type of information is available concerning franchise due diligence.
3. You can ask the franchise development director of the franchise you’re interested in how to go about doing research on their franchise.
4. You can choose to call no franchisees. And do no real research. And just buy the damn thing.
5. You can subscribe to this franchise blog, so you won’t miss out learning 40 of the best questions to ask franchisees that (as of this writing), are available anywhere.
In the next few weeks, I’ll be going through all 40 questions that you must ask the franchisees that you’re going to call. I’ll share the questions, tell you why it’s so important to ask them, and show you how to use the answers that you’ll be getting to your advantage.
You want to be a wildly-successful franchise owner, right?
You want to lower your risk, correct?
Let’s get started!
Top 40 Questions to Ask Current And Former Franchisees
1. What is your professional background?
The reason that I want you to ask this question of the franchisees that you’re going to be calling is a fairly simple one; I want you to see if the franchisees that you’ll be calling have backgrounds that are similar to yours.
I’m not suggesting that you’re going to call a franchisee or two, and find out that they came from the same industry as you, and that they even held pretty much the same position. (If a coincidence like that does happen–great! But, don’t expect it.)
What I am suggesting, is that it’s possible that some of the franchisees that you connect with will have similar general backgrounds to yours. For example, let’s say that you just got downsized from a position of VP of Manufacturing at a Fortune 500 company. As luck would have it, the 3rd franchisee that you called was also a VP of Manufacturing. That’s great! You’ll have an instant bond. You’ll find that it will be relatively easy for you to get crucial information from this franchisee. That’s because you’ll have lots of stuff to talk about–and none of it will have to do with franchising, if you get my drift.
If you can form an instant and meaningful bond with a couple of the franchisees that you’ll be talking to, you’ll get the answers you need to make a decision on the franchise opportunity you’re looking at.
Finding out a franchisee’s professional background can open up a lot of doors for you.
Doors that need to be opened.
Subscribe now, so you won’t miss any questions that you must ask current and former franchisees.
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(Before You Send In Your Money & Sign Your Contract)
"I was pretty focused on a particular franchise opportunity when I reached out to Joel Libava. In the course of a 1-hour conversation, Joel was able to ask questions and provide direct advice to help clarify the process for me and help guide me through the next steps in my vetting process. He even put me in contact with other professionals who were able to help educate me further in my particular industry. The time and money were well spent."
-Brian Grayson, Cincinnati