The first thing that you need to consider when buying a franchise is if you will feel comfortable with the franchise. If you think that it is a good match, it will be easy for you to move forward. On the other hand, if you face issues with your relationship with the franchisor even during your initial meeting, it might only get worse. Here are signs telling you that the franchisor you are talking to is not the best choice, and you need to keep exploring other options.
You don’t get answers
You want to know all the answers first before you decide to buy the franchise. You want to consider all the responses before you decide it is worth buying. If the franchisor does not return your calls or reply to your emails, you will have a hard time. You don’t want to keep running after the franchisor to spare some time to explain some things to you. In the future, if you become a franchisee, you might also find it difficult asking for support when you are in trouble.
You get inconsistent responses
When you don’t get consistent responses, it shows that the franchisor is not yet ready for a franchise. The company needs to have more time to finalise the details before they start franchising. They might not even be sure if franchising is the right move for them. Given how unstable the company is, you won’t succeed if you partner with them.
The franchisor seems too eager
Although some franchisors seem too lazy to respond to your enquiries, you will find others who are incredibly excited. They keep calling you back or sending you emails even if you did not ask about anything. They keep following up even if you already agreed that you would call them when you make up your mind. If the owner does this, it shows that the company is not in good shape, and franchising is the only way for the business to survive.
You don’t receive the disclosure documents
You need this document to decide if you will pursue the transaction. Regardless of where the headquarters of the company is, you need to receive the actual documents. You can get the ideas you need from the documents. If you do not get them, it shows that the franchisor is not taking you seriously. Worse, the franchisor might be hiding something from you.
You receive negative feedback from other franchisees
The best method to know if you are heading in the right direction is by asking other franchisees. They went through the exact same steps, and they know the franchisors well. If they give negative feedback about the franchise, you need to drop it.
Given these possibilities, you need to be cautious about making a decision. If you want to be safe, you can look at the choices at https://startyournewfranchise.com. Take your time before deciding, to avoid regrets.
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