One of the best ways to do good franchise research is to spend “A day in the life” of a franchisee.
After you find a franchisee who’s willing to let you hang out and observe their franchise business in action…
Get In Your Car And Go!
Which Franchisee Should You Visit?
You know how important it is to talk with 10-15 existing franchisees of the franchise opportunity you’re interested in.
Find Out What Separates This One From All The Others
And, you’ve found a few who you were able to easily relate to. Right?
Those are the franchisees you should try to visit. Are any of them within a couple hours drive?
Franchise Research Tip: Spend A Day With A Franchisee
This is what you need to do.
Call a couple of them back, and ask them if you could spend a day at their location. Make sure you stress that this must be convenient for them. They have businesses to run, so be flexible with them. If they are willing to spend a day with you in their franchise location-or even a few hours, go ahead and visit. Better yet, arrange in-person visits with two franchisees. By visiting two, you can get a much broader feel of the franchise concept itself.
By design, the franchise business model requires uniformity. But, two franchise operations may feel vastly different. They may have different management styles, be of different physical sizes…there may be several differences. If you can swing it, visit two franchise locations. It will be well worth your time to do so. You’ll increase your chances for success.
Observe it all.
Watch how employees interact with customers. Observe the customers. Are they eager to do business with the location you’re in? Are they purchasing extra products and/or services?
The franchisees you visit will fully expect you to ask lots of questions, so fire away.
Like this one: “If you had a chance to do this over again, would you?”
Here’s another good franchise research question to ask in-person: “How did you find your location?”
Tip: If you’d like to have the best questions to ask the franchisees you talk to and/or visit in-person, grab my franchise research guide now.
You’ll find in-person visits…a day in the life of a franchisee, are really valuable.
It’s one thing to observe a franchise operation in action, it’s quite another to own one.
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But you should still do it.
Scratch that. You need to do it.
You’ll be glad you did.