Franchising can be your ticket to an exciting world of growth opportunities and expansion of your professional network. There is a ton to consider when deciding which franchise business opportunity to invest in, and we want to help ease the learning curve that comes with exploring the world of franchise ownership. Here are a few of the franchisor red and green flags that give more insight into your franchise investment:
Red Flags to Watch Out For
Getting the negatives out of the way first – franchisee support is crucial for the franchisor to show interested investors. Every brand has their own plan to support new franchisees, and some are better than others at promoting investor growth. Support can come through things like having a dedicated franchise team that is knowledgeable on the industry, to dedicated marketing support tailored to your specific market and so much more. If a brand doesn’t have a dedicated franchise team to execute your support plan, that could be enough to sink any franchisee experience.
The next red flag would be lack of varied franchisee testimonials to help illustrate the franchising experience. Franchisee validators are so important when researching whether or not a brand is a fit for you. If a brand doesn’t have these validators readily available from people with a variety of backgrounds and experiences, it can make gauging the experience as a franchise owner that much more difficult. Every franchisee experience is different, and having a full idea of the life as a franchise owner can go a long way in determining if the opportunity is a fit.
Green Flags to Move Forward
Moving onto the aspects that promote franchising success with a particular brand. A research element that can be very illuminating is franchisee reinvestment in a concept. This can come through a franchisee looking to expand their portfolio or modernizing their existing locations. Having franchisees that are loyal to the brand and are excited to expand their locations truly showcases the viability of investing in a brand for the first time. At BODYBAR, we are dedicated to creating a culture of growth and love seeing our franchisees achieve franchising success with our concept.
The last green flag – and arguably the most important one would be a franchise team that believes in the brand. Having a franchise team full of brand ambassadors that see the value in the brand – and are committed to helping franchising newcomers and veterans fall in love with the concept is so powerful in creating confidence in new and existing investors. BODYBAR’s franchise team is full of current and former franchisees who are passionate about the concept – and are eager to share their positive experience with new franchisees.
As you can see – there are things both big and small that help you determine if a franchise investment is a red flag or a green flag. From our franchisee support to brand loyalty, BODYBAR is dedicated to becoming a green flag investment. Ready to take the leap? Connect with us today to learn more about franchising with BODYBAR!