Experience with Franchises?

August 22, 2022

by a searcher from Brigham Young University in Boise, ID, USA

Curious to hear anyone's experiences with purchasing/operating a franchise. Pros and cons?

I have recently begun looking at opportunities to purchase or start a business with a couple partners. We have been doing a few exploratory calls with franchises. Some seem too good to be true, which I'm sure they are.

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Reply by a searcher
in Illinois, USA

There are quite a few posts in this forum addressing the question. This post from Jim is pretty , addresses the questions comprehensively. https://jimsteinsharpe.com/searching/buying-a-franchise/. I own an in-home care agency , I started with an acquisition in mind but settled with buying a new one , as I thought for my risk appetite it would be better to start a new one. It lot depends on the franchise, their staff , brand and most important - the network/ community of existing franchisees. First figure out your style and personality, some franchisor will vet that and they like to ensure you are right fit for running a franchise. Having done it, I would rather go for resale and be very selective.

Reply by a searcher
from The University of Michigan in Cincinnati, OH, USA

I'm looking at a home service franchise now (think plumbing/HVAC), and I think a few of the most important pieces are: royalty (and other) fees, how much operational control you get (advertising, pricing etc), and how up your backside they are with regards to forecasting, reporting etc. It's good to understand what support they do or do not offer in terms of advertising, call center, website, training as that can vary from franchise to franchise.

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