Selecting a franchise business to invest in is a big commitment for you and your family’s future so it should be obvious that we don’t expect you to take it lightly. At FirstLight Home Care we expect our potential candidates to do their research and ask us plenty of questions along the way. After all, they are seeing if we are the right fit for them, and we are evaluating if they are the right fit for us. What are a few positive signs that should tell you whether or not you’ve selected the right franchise business for you?
- What is the franchisor’s industry experience? What are the backgrounds of all the executives? Do they possess credible skills, knowledge and experience within the industry to help lead and manage franchisees on a potentially profitable path?
- Does the franchisor offer management and technical training? If so, how often and how detailed? Is it continual training and support throughout franchisee ownership or only during the beginning of the ownership process? The right franchise business will offer continual training and support throughout the ownership process to all franchisees and their employees to ensure ongoing growth, while ensuring that all franchisees are staying up-to-date with industry trends, policies, and current issues.
- What are the current franchise owners saying about the franchise business? How do they feel about their investment, training and support, the process? Would they make the same decision to invest in this franchise business again?
- How many franchise locations does the franchise business have? What’s their expected growth over the next 3-5 years.? A solid franchise system should be growing aggressively yet pragmatically; not growing for the sake of growth, but bringing the “right” franchisees who have the chance to be long term partners in achievement. Also, what are the additional growth opportunities for you either in additional territories or new related franchise offerings under the parent franchisor? Remember, you want to choose a franchise business that has experience and industry knowledge, but also allows for continual growth opportunities.
If you would like more information on key assets to look for when selecting a franchise business to own, visit the Bureau of Consumer Protection Business Center website. If you would or someone you know is interested in owning a franchise in the home healthcare industry and would like more information on becoming a FirstLight Home Care owner, please visit our Franchise Opportunities page and download our Franchise Kit . If you would like to speak with a FirstLight Home Care representative right away, give us a call: 1.866.985.5348. We are available any time to speak with you!