As a potential franchisee, you might feel super confident and believe that you’re ready to go. 

Before you do anything – sign on the dotted line or make a verbal agreement – take note of these five tips:

1. Be smart about your location 

Depending on the size of the business you plan to join, you might be able to choose where you locate your franchise. Either way – whether you can choose or not – you should do extensive research on the area. Knowing things such as traffic levels, busy and quiet times and the general demographic of the area is very important to gauging what you’re in for.

2. Find the right staff

You don’t want to be working alongside people who merely go through the motions, lack passion and have no vision for the future. Have a screening (or a vetting) process when you put together a team – don’t just hire anybody. 

3. Follow and replicate success

Liase with your field manager and build a strong relationship with your franchisor because it’s crucial to ensure these relationships are healthy. Take note of your franchisor’s past successes and look to build on it. Never get complacent, too.

4. Pursue your passion

There’s absolutely no point getting involved in a franchise that provides services you won’t be able to deliver year on year. Make sure you’re equally as passionate about the nature of the services as you are with the franchise and its model. This is arguably the most valid, significant point to heed.

5. Embrace growth         

Don’t be scared of business growth, or of change. These two things tend to go hand in hand, so remember to remain locked in to what you have to do and relish the opportunity to grow with the business.