The franchise matching process
This is a part of FranNet’s free evaluation, a no-brainer for those who are interested in how to buy a franchise
This innovative process will help you understand how to buy a franchise that will give you the greatest chance for future success. There are five basic components we use to help identify if franchising is right for you, select which franchising opportunities are the best fit for your goals, skill set and lifestyle, and ultimately provide actionable information on how to buy a franchise.
- Profile We want to be sure we understand you – your goals, your dreams, your budget and ultimately what makes you tick. The first step is having a conversation with you. We’ll then have you fill out a Personal Franchise Assessment (PFA) that gives us more insight into your goals and the kinds of business opportunities that makes the most sense for you.
- Model After studying your PFA, we’ll arrange to discuss the information you provided. We then use this information to develop your unique business model of what the “perfect business opportunity” for you may look like. Later in the process, you’ll use this model to evaluate businesses you choose to research. This model is uniquely yours and covers all the necessities for your business, so we want to make sure you feel it’s correct. Once you are satisfied that we have identified your model correctly, we’ll be ready to suggest business types that structurally and strategically match your model.
- Match Once we have identified some business types that we think match your model, we’ll identify and suggest specific companies you may want to learn more about. Over the years, we’ve screened hundreds of franchisors and worked with thousands of people interested in franchising opportunities. We leverage this experience to ensure you are matched with the franchise opportunity that is right for you.
- Research This may be the most important step of all. We will guide you through the entire research process. We’ll need you to conduct a complete and thorough investigation of any franchise opportunity that you think may be right for you. We’ll even give you sample questions and research guides to help you with this critical part of the process.
- Purchase When you’re ready to buy, we can help you locate financing sources, franchise attorneys and other resources that are helpful in navigating the purchase process.