The answer is less obvious than those of us in the franchise industry may think. The context of the question was from a potential franchisor (“Can I franchise my business?”) but the answer is basically the same for a potential franchisee.
First, for the franchisor:
Can the business be duplicated?
Is there something you have that is unique that will make someone willing to pay you?
Does the business model work?
Does it make money?
Is there a market for it?
Is it something someone would want to buy?
The flip to those questions is the answer for someone considering buying a franchise.
Can I do it?
Do they have something I don’t that is worth the cost?
Does the business have a track record of success?
Will it meet my financial needs?
Do people want the product?
Will people pay for it?
I put Great Harvest in that mirror on a regular basis to attempt to look at what we do from the perspective of a potential franchisee. I think we stand up pretty well.
Can you do it? Our track record in training, with very, very few exceptions, is one of significant success.
Our product is very unique. There isn’t another fresh milled, made from scratch, community focused bread concept in the US our size that we know of. We have been around since 1976 and are still growing. I call that a successful track record.
I can’t say what your financial needs are or if our business will meet them but we provide you with plenty of information in our Franchise Disclosure Document to help you figure out the answer.
Will people pay for it? The activity level in our stores says yes, people love what we do.
Is any franchise perfect? No. But we are very proud of what we do and think we meet my criteria for a good franchise. And we will always keep learning and improving.
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