Franchisee resource center

Possessing an entrepreneurial mindset is a plus but one should also have the employee mindset as well. This lies in the fact that even though the franchisee must have the steely determination and drive to launch a business, they must be willing to be restrained and follow the directions of the franchisor. The level of control for a franchisee is noticeably less than of that of being an owner of your own independent business. However the level of risk presented to a franchisee is less than that of an independent business owner. Therefore this type of business is preferable for those looking for less risk. If we were to prepare a checklist of the traits, which were to be present within the ideal franchisee, it would appear something as:

Success is guaranteed. 

While every franchise has its own concept of the "perfect franchisee," there are some basic characteristics that nearly all franchisors look for during the franchise application process. Below is a list of some of the most commonly sought attributes:

Identifying the major traffic patterns, the availability of parking close by, the cost of utilities, the rent per square foot and various other aspects are just a few of the factors to consider when locating your franchise site.

Here are a few tips to help you make the most of your franchise show attendance:

Whether it is a “Discovery Day” or other term that the franchisor uses, most franchisors require prospective franchisees to visit their corporate headquarters as a pre-requisite to buying a franchise.

How can you be sure it’s the right choice for you? We asked Glen Kaufman, Managing Director at American Securities, a private equity firm with a consistent track record in the industry. The middle-market firm invests in companies with revenues ranging from $100 million to $1 billion.

The reason why anyone would choose being an Area Representative is that they are paid a certain portion of the initial franchise fee of each new franchisee they solicit as compensation. Aside from the sales commission the area representative may get paid by the franchisor a portion of the royalties received for servicing franchisees. In some cases, franchisors will pay the area representatives a portion of the fee received from new franchisees in the reps’ territory even though the area representative may have had nothing to do with the screening or recommending that particular franchisee. However, all these and other contingencies- such as compensation for furnishing many of the pre-opening and on-going services to the franchisee- should be covered in the area representation agreement.