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Sunday, September 7, 2014

Questions for Franchisees

When you perform due diligence in considering a franchise one thing you should do is to talk to a number of people who already own the specific franchise you are looking at. They are already engaged in the business and have formed valuable opinions. It is up to you to select these people, calibrate and evaluate the input they provide. As with most financial discussions there will likely be some hesitancy, so tread lightly.

Here are some of the questions to consider asking:

How is working with company X?

Does the company serve your needs?

How long will it take to break even?

Would you recommend this business to your best friend?

Do you have any advice?


Steve Koenig, SCORE Counselor

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