Ask the right questions at a franchise trade show

Few events hold as much potential for the would-be business owner as a franchise expo/trade show. Innovative business systems and ideas are presented in an exciting setting with many displaying their products, services and perhaps even a chance to sample their products.

But buying a franchise can be intimidating, especially in the dazzling atmosphere of a show packed with thousands of people. To get the most out of this gathering, you must know what to expect and take the time to prepare. The Franchising expo or Business opportunities expos are held nationally throughout the year and are typically held only in major metropolitan areas.

The most important thing to do before you attend a trade show is to plan exactly what it is you want to get out of attending the show, remember the franchisors have paid good money to be there and are looking for good quality candidates for their systems. Although it is important to evaluate them and ask the franchisors some tough questions, be prepared that they may want to do the same with you to see if you are a suitable candidate for their business.

Here are a few steps that may make investigating trade shows a little easier and will help you to get the most out of the show.

Step 1: Decide what you are shopping for. Know what types of businesses interest you before you go. Do you love cars and want an auto-related business? Do you enjoy customer contact and dream of a retail store, restaurant or similar business that requires face-to-face interaction?

What is your financial situation? Do you have the money and credit to start a retail shop, or are you looking for a low-cost investment such as a home based business? Decide these things now, and once at the show, you can concentrate on franchises that fit your criteria.

Step 2: Plan your attack. After you arrive and register at the show, sit down and take a few minutes to examine the list of exhibitors. Mark the companies that interest you; as you stop by their booths, check them off to make sure you havenÕt missed anything.

Many franchise shows also hold seminars such as ÒHow to Buy a FranchiseÓ and ÒFinancing Your Franchise.Ó Schedule time to attend the ones that sound useful or most relevant for what you are looking for. This may be the most valuable part of the show.

Step 3: Cover ground quickly. Talking too long with exhibitors can eat up all your time. To avoid wasting time with exhibitors whose programs are inappropriate or too expensive for you, prepare a list of Òknock- outÓ questions to eliminate those companies quickly. If you have limited cash, for example, asking about the size of the investment or the financial qualifications will eliminate franchises you canÕt afford.

Remember, a franchise trade show is designed for initial contacts only, so donÕt expect to have any in-depth discussions. Leave your business card or contact details with franchisors so they can send you more information.

Step 4: Ask the right questions. Aside from your knock-out questions, other areas to cover include: What are your growth plans for the next three years? This gives you an idea of the franchisorÕs commitment to expansion. If you get a vague answer or a unrealistic statement suggesting the company expects to take over the world, be forewarned.