Most Profitable Franchises
Most Profitable Franchises. How do you find the top ten franchise opportunities for you? How to research franchise opportunities.
How to Research a Franchise
How do you research a franchise to help you find the top 10 franchises and ultimately choose the best one for you.
Gather information from both the franchisor and the franchisee
This includes the full franchise package, financial statements, customer base, list of existing franchisees. You need as much information as you can get to make an informed decision.
Beyond the information from the franchiser, make it a point to speak to existing franchisees in your country as well. Have they been able to obtain timely support when they needed it? How committed is the franchiser to the success of the franchisee? How good is the training provided?
Compare the gathered information to your specific circumstances
Location has everything to do with whether your franchised business succeeds. Understand that while the franchise might have succeeded in its home country, market conditions differ from country to country.
Ask about failed franchisees
Learn the stories of failed franchisees. Ask the franchiser why they failed and figure out whether it was due to personal factors such as lack of diligence, incompetency, or broader red flags such as unsuitability of the local market.
Are you interested in the business area?
Although franchising provides a tried-and-tested system for making money, you will still need a significant degree of passion to spur you on as you get the franchise up and running. There will be unexpected problems and obstacles that crop up along the way; some of these will require significant determination to help you pull through.