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At Frannet, we work with people who want to find a business that will meet their needs. In order to do that effectively, we first have to learn what those needs are. We work with you to determine your profile and create a model you can use to evaluate any company you investigate. This can be a proven franchise company or an established independent business.
We need your help. We will ask you many detailed questions to determine the business characteristics that match best with you. We will work with you to find the right opportunities consistent with your answers to questions like:
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What are your reasons for wanting a business of your own?
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Are their career pains: lack of growth at your job, office politics, lack of stability?
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Have you ever owned a business of your own?
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What hours do you like to work?
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How far are you willing to commute?
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What type of location: office, home based, strip center, mall. Etc.?
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Where do you want your business to be located downtown, highway, doesn't matter.
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How do you feel about managing people? Skilled or unskilled?
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How much capital do you have to start a business with?
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Are you comfortable with Debt financing?
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Are you looking to build equity in the business to be used toward retirement?
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Will you have partners?
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Do you want to build multiple units?
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How soon do you want your business to open?
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Will you be involved on a full-time or part-time basis?
These are just a few of the many vital issues we'll discuss
with you. Then, we'll help narrow down your choices to
those that best match your wants and needs with the
goal of finding a great match for you. Of course you can
always ask us any questions you want.
There are a number of characteristics that virtually all franchisers look for in prospective new franchisees. As you review the following list, give yourself a frank appraisal on how strong you are on each. The better you rate, the greater your aptitude for becoming a successful franchisee.
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Honest
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Service Oriented
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Customer Focused
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Goal Setter
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Decision Maker
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Basic Need to Control and Direct
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Thrives on Achieving Results
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High Confidence/Self Esteem
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Follows Business Procedures
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Fits into the Organization
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Gets Along Well With Others
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Coachable
There are also three prerequisites that you must have in order to be successful in business. Give yourself a frank appraisal on each of these key factors before deciding to proceed.
Talent Whether you got your experience in supervising others on the job or managing a home with children, you must have this experience in order to maximize your chance of success as a franchisee. There are just too many lessons you learn from experience that you can't learn any other way.
Money There are over 3000 franchise companies. The investment range of these opportunities runs from less than $5,000 to over a million dollars. From a practical standpoint however, you must have a net worth of at least $100,000 of which at least $25,000 to $30,000 is readily available for investment in a business. If you do not have these minimums, you will find your options so limited that franchising is probably not a viable option for you.
Time Most franchises assume that you will be operating the business on a full-time basis. Even the companies that are set up to accommodate absentee ownership have some minimum time requirements for the owner. You must have sufficient time in your schedule to devote whatever is required for success in your business
At Frannet, we only refer clients to franchises that meet the exacting standards we have set. We examine the record of the franchiser relating to return on investment, litigation, failures and many other factors. We stress working with the best.
We start by listening carefully to what you want. There are many opportunities out there - some good, some not so good - and it can be quite difficult to weigh their pros and cons alone. We offer a safe, professional environment in which you can learn about opportunities in a variety of industries that span a wide investment range. We'll help you build your business and personal model and define exactly where you want your business to take you and how you want to get there. Our goal is to find the "perfect fit" for you.
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