Joel Libava
You’ve found a great (hopefully) franchise opportunity.
You’ve talked to at least a dozen current franchisees.
You’re starting to get excited about “the possibilities.”
You haven’t been derailed by friends and family.
You’ve discussed some potential territories with your franchise sales rep.
And, by doing that, you’re starting to realize how important territory is in the scheme of things.
Now, about that “territory…”
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How Does The Franchisor Look At Territory?
Territory is super-important.
Not only is your potential franchise territory important when it comes to things like, size, geography, and demographics, it’s important in one other way. Here it is:
Is Your Territory Yours?
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Franchise Opportunities: How Important Is Territory In The Scheme Of Things?
So, is your franchise territory yours?
In other words, is it only yours?
Or
Is it not only yours?
In other words, is it exclusive, or can neighboring franchisees market and sell there?
This is something you may want to find out before you get too far down the franchise highway you’re cruising on.
You really need to read this article about exclusive franchise territories.
Did that article open your eyes up a bit? Are you thinking about calling your franchise sales rep to “double-check” on a few things? Good. That means I’ve succeeded in my goal of making sure you haven’t left any stones unturned.
Other Franchise Territory Questions
One of the writers at Franchise Direct just wrote an article on the topic of territory exclusivity in franchising.
The article is a good one because reading it encourages you to ask your franchise sales rep more questions about their territory model. The article also comes with an added bonus.
Holly Brochard’s article on franchise territories includes some questions (4 of them) you need to ask yourself with regards to territory. Read Holly’s article on Franchise Direct to find out if you’ve thought things through enough regarding your potential territory.
Know this: Once you sign your franchise agreement-which will include your defined territory and any restrictions on it, you own it.
About the Author
Joel Libava is The Franchise King® — an independent franchise advisor with 25+ years in the industry, two published books on franchising, and his writing has been featured in The New York Times, Forbes, CNBC, Entrepreneur® Magazine and others. In addition, he wrote exclusively for the U.S. Small Business Administration blog for eight years. He doesn't sell franchises. Instead, Joel helps you figure out if franchise ownership is actually right for you — and if it is, teaches you his powerful, proven-to-work franchise research techniques, so you can make a smart, informed decision on a franchise to own and be your own boss.
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