10 Signs of a Great Franchise

More than anything else, what most prospective franchisees want to be sure of is that the franchise you are considering is a good all-around opportunity. We can use other words like "great" or "solid" or "reputable" to illustrate what you're looking for in a franchise, but the bottom line is you want to know that everything needed for success exists and that there are no major flaws with the franchise.

The following checklist for determining whether a franchise is solid is subjective, but it's based on many years of experience. If you want to know that you're looking at a solid franchise opportunity, make sure to check the following factors carefully:

1. Responsiveness during the investigation process. It sounds almost trite, but you want to see a professional and responsive reaction to your research into the franchise. This is the "courtship" phase of the relationship, and it doesn't bode well for your future as a franchisee if the phase is marked by frustration and delayed answers to your requests.

2. Direct operational training. You need to make sure that the franchisor's training programs cover all the operational knowledge you'll need to successfully deliver their product or service if you become a franchisee. In addition to reviewing the information the franchisor provides about their training programs, make sure to ask the existing franchisees how well they were actually prepared to conduct the business based on the training they received. ...