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No. 1 Franchisee Tip

Posted by Elizabeth Gore-Jones on 15 December 2016

Thinking of making a new and exciting start in 2017?

Will this be the year you enter into your own business and take on a franchise?

If you answered ''yes" (or even "maybe" will do) then this post is for you.

Our number 1 franchisee tip of all time is about to be revealed...

After more than 20 years of of advising and assisting franchisees entering into franchise agreements, exiting franchise agreements and sorting out issues with franchise agreements I have determined that (although not guaranteed) the best thing a franchisee can do for themselves when choosing a franchise system is to FIND THE RIGHT FRANCHISOR for you.

It is a good start to your franchising journey if you and your franchisor are:

  • a good fit;
  • understand each other; and
  • are able to maintain a good relationship.

So, how do you do this?  There is no magic formula but you will be doing yourself a favour if you:

1. spend time with the franchisor and the staff you will be dealing with.  Do you like them?  sure, it is business, but your interactions should be reasonably pleasant if you are dealing with them day to day;

2. do their current franchisees like them?  Everybody in this world is not going to get along however you would hope the majority of the franchisees quite like (or at least didn't think murderous thoughts about) the franchisor; and

3. did their past franchisees like them?  They may have left the franchise system for good reason.  On the other hand, they may have left the system at any cost to save their sanity.

Of course it is important to pick a franchised business you like.  Having said that, bad internal relations can quickly turn a dream business into a nightmare. 

So sometimes it really is the basic things that matter. 

Don't lose sight of something as simple as good interpersonal relationships in your decision making process.

And remember, this is just the No. 1 tip.  There are many, many more and lots of them are actually legal.

Disclaimer: this post is for general information purposes only and is not to be relied upon as legal advice.  You should seek legal advice specific for your circumstances.

Author: Elizabeth Gore-Jones
About: Elizabeth specialises in franchising law. She lectures at Bond University PLA in franchising, she sits on the Queensland Law Society Franchising Committee, she is a past member of the Women in Franchising committee and a past member of the Franchise Council of Australia.
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Tags: Business News Franchisee

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