Choosing a Brand
There are several options available when it comes to starting your own franchise, and at Weed Man Lawn Care, we want to ensure it’s a good fit for both the prospective franchisee, as well as ourselves, the franchisor. That’s why we offer complete transparency when someone wants to learn more about our brand. We’re here to help you succeed on your entrepreneurial journey, and we hope these tips point you in the direction of achieving all your career aspirations.
If you read our last article, “Finding the Right Fit: Part 2, Choosing an Industry,”
we hope you’ve been able to decide on one, or a couple of industries you’re interested in. Now, it’s time to start thinking about what brand you’re going to partner with and invest in. Below are a few things to consider throughout the process:
Take an in-depth look at the financial requirements
for the industry and brand you decide to pursue…again! Don’t forget to consider any on-going franchise fees involved, such as royalties, advertising fees, operational expenses etc. Are you going to require financing? Does the franchisor offer in-house financial support? Are there third-party financing options in place? These are all important questions to ask!
Look for strong brand recognition.
Do your due diligence.
- What’s the company’s reputation like? Negative customer reviews are inevitable from time to time, but how is the company addressing their customers?
- Are existing franchisees satisfied? Have they been successful?
- How long has the brand been around and are they considered an authority in their industry?
- Do you relate to the company’s mission and core values? Does it feel right?
- Has the brand been profitable? Is their network continuously growing?
We highly recommend interviewing the franchisor and talking to (and even visiting) existing franchisees. Do you connect with people already involved with the brand? Do you see yourself fitting in with the company culture? Be sure to ask as many questions as possible, to gain as much insight as you can into the company. What kind of support does the company’s head office provide? What do they take care of on your behalf, if anything? What kind of rules are put in place? Review the Franchise Disclosure Document (FDD), business plan, marketing systems etc.
There are many things to consider before making the decision to start your own business and invest in a franchise. This decision could change your life, so be sure to treat it that way. Ask questions, be proactive and committed to the process. Trust us, it will all pay off in the end!
Whether you’re an entrepreneur looking for an affordable investment, an existing business owner looking to diversify, or simply eager to become your own boss, Weed Man Lawn Care can help you achieve your career aspirations. Want to learn more? Request a consultation
or send us a message on our live chat today!