Your Role as a Franchisee
Joining an established and well-managed franchise system can be rewarding, profitable, and provide a level of safety that may not be available to non-franchisees staring their own independent businesses. As a franchisee, you are responsible for the day-to-day management of your business to the brand standards of your franchisor.
Not all franchise opportunities are equally sound investments. When you are making your decision to become a franchisee, look closely to determine whether the franchisor can provide you with:
- A tried and true method of doing business
- A clearly defined Brand Promise and a recognized brand name that you can capitalize on in your local market
- An extensive library of operations manuals and training programs for you and your management team, and support for the training of your other personnel
- A headquarters and field support team that is focused on improving your bottom-line performance as well as enforcing its brand standards at each of its company-owned and franchised locations
- An active research and development program geared to developing new products and services to keep you ahead of the competition
- A local and national advertising and marketing program that supports your business
- The opportunity to invest in additional locations
- A return on investment that meets your expectations
What Being a Franchisee Entails
A franchisee doesn't actually buy a franchise although they own the underlying assets of the business, which may include the land, the building, and the equipment. As the owner of their business, the franchisee enters into a license agreement with the franchisor and obtains the right to do business using the franchisor's operating methods, brand name, trademark, and service marks in offering the system’s products and services.
Do your homework before you make the decision to become a franchisee. Engage the services of a recognized franchisee lawyer as your advisor. We have included on this website a free workbook called Making the Franchise Decision which you can download and use as your guide in conducting your due diligence on a franchise opportunity.
You should also spend some time educating yourself on franchising. Two good tools to use are Michael Seid’s books Franchising for Dummies and Franchise Management for Dummies. Above all, take your time in evaluating a franchise opportunity, and do not rush into any investment without first getting professional guidance and making certain that the franchise system is right for you.