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How to Interview a Franchisor

So you’ve decided that you want to run a franchise. You’ve selected a company that you think aligns with your goals and can bring you some success, but now it’s time to test that hunch in your first interview with the franchisor. Even if you’ve done a lot of research up to this point, it can be a little overwhelming to think about what to ask in this interview so you come away with all the necessary information to make your decision. At the very least, make sure you ask these important questions:

  1. What resources do you provide? Ask for details here. Most franchisors will offer some kind of startup kit or a set of initial resources designed to facilitate your transition into franchise ownership. Knowing what’s included, as well as what’s not, will help you make a solid plan for opening and create a long-term business plan. 
  2. Will you help me find a location and secure a lease? This is one of the most important and time-consuming steps of opening a franchise, so if the franchisor is willing to help you with this stage, it is a good sign of their overall support.
  3. How do you resolve conflicts? Will a franchisor open a dialogue with you to resolve a concern or dispute, or will they take direct action? What does their resolution process look like, and what ability do you have as a franchisee to petition for certain things?
  4. What is your training program like? This is important to get a sense of the timeline and what resources you’ll need to pull together in order to prepare for your grand opening. You’ll also get a sense of where your knowledge level is and how much you need to learn to get to where you need to be. Will you be able to keep working at your current job while you do the training, or will you need to make an earlier transition?
  5. How are your marketing and royalty fees structured? This is invaluable information that you’ll need to plan your budget and estimate profitability, so be sure to ask about it.
  6. Do our values align? It won’t be enjoyable, or even tolerable, working with a company that does not share your values. Try to get a sense of the corporate culture and how the franchisor views or treats its other franchisees to see if this is truly a relationship you’ll be happy with.

If you have any more questions about franchising, Rosati’s Pizza franchising is a great resource. Our 200+ franchisees are family, and we are proud to offer our award-winning recipes to other entrepreneurs who share our passion for delivering quality Italian food. Inquire today about bringing a Rosati’s franchise to your community!

 

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