This week’s advice is for future franchise owners…
If you’re investing in a franchise business, and it’s one that requires a physical location, use the best resources available to you when searching for your location. Large franchisors like Great Clips have commercial real estate professionals right in their local markets, and they already have the connections needed to help you secure a location.
If you’ve chosen a franchise that doesn’t have something like that set up, ask your franchise attorney, CPA, of local banker for local commercial real estate professionals that are in the know. These folks know what’s available right now, and they also know if there are any new strip centers etc. that are in the works, where you may be able to open for business.
In most cases, both parties (you and the franchisor) must agree on the choice of location. Good luck with your search!