A franchise relation is a long-term association and it is critical that you select the right franchisor. Not every available franchise option is a viable option and you must undertake your franchise selection process diligently. A franchise relation revolves around trust and you must ensure that your franchisor is honest and transparent with you.
The mistaken selection of an unsuitable franchisor will cause you untold problems in the course of time. In order to avoid any issues and disputes between you and the franchisor, you need to analyze and avoid any of the following mistakes and oversights:
- A franchise company is only as good as the quality of their franchisees. Don’t be misled by a high number of franchisees under the franchise company. You need to assess if all the franchisees are providing quality education and adhering to the standards claimed by the franchise company. You need to carefully screen the operations of the franchisees, confirm the reasons behind the failed franchisees and get feedbacks from the franchisees about their experiences with the franchise company.
- Not doing enough due diligence. Taking a shortcut from researching the prospective franchise schools will increase the likelihood of making a mistake in selecting the right franchisor. Do not let your perceptions guide your decisions. Conduct plenty of research to justify your selection with facts. Dig into the culture and the history of their operations and the quality of education they provide and then take an informed decision.
- Not identifying the franchises that will match up to your values and your outlook. It is important to find a franchise that agrees with your core values and the expectations you have with your school and in providing the quality education you intend to. Seek the core values of the franchisors before you make a selection. A difference in your ideology for your school and the franchisor’s goals will lead to a rift between you two and damage your partnership.
- Not seeking sound advice from experts. Lack of experience in the field of school education leads you to the decision of opting for a school franchise. But, not using experts like franchise consultants, financial experts, advisors and franchise attorneys, could result in selecting an unfit franchisor. Be sure to consult with experts who are knowledgeable about franchising and more importantly, someone who has some experience in the field of school education franchises.
One or more of these mistakes may keep you from making a suitable choice for your franchisee school. Remember, franchising is not just about buying into an established school model, rather it also includes a partnership that should have aligned values and a relationship based on trust and transparency. So, sort out all the information, monitor your results, take your time in the selection process and then make a decision that best suits you.