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Franchise Q And A: Should I Trust The Franchisor To Pick A Good Franchise Location?

picking your location

Let me start off by sharing my view on “location, location, location.”

(This post may contain affiliate links. Please read my disclosure policy).

While it’s true that securing a great franchise location can be critical to your success, it’s only one of many things that can contribute to it…to your ultimate success as a franchise owner.

Keep reading.


 



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Franchise Locations

Most of the people who work with me, who use my franchise ownership advisory services, bring up “location” pretty early on in our discussions. They’re really focused on getting a good location for their yet-to-be-chosen franchise business.

While the importance of choosing and ultimately having a good location can and sometimes does dictate the success of a franchise business, it’s a massive waste of time for my clients (and you) to allow location-related thoughts to occupy a lot of your time as you try to find that “perfect” franchise opportunity.

Tip: Don’t obsess, worry, or even think about location until you decide on a specific franchise and you are towards the end of your research process.

Capeesh? (Hat-tip to my in-laws, who are Italian)

Go Here For A Tool That Will Help You Choose A Great Franchise Location 

Should I Trust The Franchisor To Pick A Good Franchise Location?

In a word, yes!

Of course.

Why wouldn’t you trust the franchisor to help you secure a good great location for your franchise business?

Don’t you think they want you to succeed?

Stop with the paranoia. Don’t listen to people that have “heard” of franchisors that have purposely picked bad locations for their franchisees.

Here’s why it would behoove you to ignore crappola like that:

The more you make, the more the franchisor makes.

If you become the owner of a franchise business, you’ll be sending in a monthly royalty check to the franchisor. It could be 4, 5, 6, even 10% of gross sales. So, if your franchise does $400,000 in annual sales, and the royalty is 6%, the franchisor gets $24,000 from you. And, they get 6% from every other franchisee, too. Do the math. The franchisor wants you to succeed. They want you to send them big, fat, checks-every month, for the life of your franchise agreement, which is typically 10 years.

They want your location to be a winning one. And, if they want to be a successful franchisor, they need your franchise location to be a successful one. They need you to be successful.

So, you’ll handle calls from others (like this potential franchise owner) who are interested in the franchise just like this:

Choose, Research, And Purchase

Do it in order.

Comprendo?
photo credit: Marcio Cabral de Moura via photopin cc

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joel libava

I'm The Franchise King®, Joel Libava. I help prospective franchise owners avoid bank account emptying mistakes. For over 20 years, I’ve been showing people how to make smart, informed decisions on franchises to buy, and I can help you, too!
P.S. I'm not a franchise consultant/broker.

Joel is the absolute best. Do NOT engage in any franchise until you have consulted with Joel. He will save you tons of money and grief. I am absolutely convinced that if I had found Joel before I signed on all the dotted lines and spent some money with him, I would have avoided my looming crash and burn."
- Andy Mark
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