11 Things You Must Know Before Investing in a Franchise

Hire Yourself Podcast with Pete Gilfillan

Pete Gilfillan tackles one of the most critical questions for aspiring franchise owners: What should you consider when investing in a franchise? In this episode, Pete walks through 11 essential factors to evaluate before making one of the most important decisions of your entrepreneurial journey.

In this episode, Pete discusses:

• The Leadership Team’s Experience

Understanding the expertise of the franchise’s leadership is crucial. Pete emphasizes the difference between leading a single business and managing a scalable franchise network.

• Franchisee Satisfaction

Validation through conversations with existing franchisees is key to understanding their happiness, financial success, and satisfaction with the support they receive.

• Customer Acquisition and Marketing Models

Pete explains the importance of knowing how a franchise helps its owners acquire customers and whether the marketing strategies are effective and adaptable.

• Ongoing Support and Training

Franchise success is often tied to the support you receive after launch. Pete highlights the importance of regular coaching, KPI reviews, and operational guidance from the franchisor.

Key Takeaways:

• Do Your Homework

Thorough due diligence ensures you understand the franchise’s leadership, systems, and overall value.

• Talk to Franchisees

Validation is one of the best ways to gauge a franchise’s reputation, support quality, and profitability.

• Focus on Long-Term Support

Successful franchisors don’t just get you started; they guide you throughout your business journey.

"Investing in a franchise is one of the biggest decisions you’ll make—take the time to evaluate the details and align them with your goals." — Pete Gilfillan

CONNECT WITH PETE GILFILLAN:

LinkedIn: https://www.linkedin.com/in/petegilfillan/
Website: https://www.hireyourself.com/

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