What to ask when buying a franchise

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In order to make a success of a franchise, it is important for entrepreneurs to align themselves with a franchisor that can help them make the most out of the venture.

Questions such as the following will help any franchisee get a better picture of their franchisor and what to expect from the relationship moving forward:

• What is my total estimated cost to open?
  
• Does this amount include working capital?
  
• How many franchised units (stores or outlets) have failed and why?
  
• How many people signed up with your franchise and were never able opened?
  
• Who are your competitors and why would I choose you over them?
  
• What materials or services am I required to buy directly from the franchisor?

These questions are a starting point and the franchisor's willingness to answer them should help any franchisee gauge their sincerity. The existing franchisees are often another group that entrepreneurs should speak to. This group of people also went through a research process with the franchisor and are now perfectly placed to provide potential franchisees with their thoughts and feedback as to why they made the right choice.

Support

"Potential franchisees don't have to be the greatest salesman to succeed, but they do need to be the number one cheerleader and number one fan of their own business. It certainly helps if the franchisor whom they choose to invest with, can offer them the support they need," explains Bronwyn Oliveira, Maxi's brand manager.

She goes on to say that accomplished franchise owners understand that success is built on an ongoing education. "Even after making the right decision to go with a trusted brand such as Maxi's, our franchisees continue to build on the initial training they receive from us, tapping into their passion for our brand to further build customer loyalty. They are constantly learning, finding new ways to enhance the experience for our customers. We encourage this among our franchisees; it's how we have built such a loyal customer base and a strong franchisee network."

For further information on how to become a Maxi's franchisee, please visit www.maxisfood.com