Time for training
After your evaluations have proven positive, your application has been approved, you have met the team, you have negotiated and signed your agreement and you have paid the initial franchise fee, finally your training will begin.
This is usually undertaken at the franchisor’s head office, with the franchise fee covering the cost of the training itself, but not travel and meal expenses. You will be allowed to bring one or two other people along with you for training, which is always a very good idea, as you may need their help down the road.
Also, when your franchise is about to open, the franchisor will probably send a team to your location for a specified period, to help you get ready and then during the first week or so of operations.
As a franchisee, you can expect monthly to quarterly visits from the franchisor’s operations and marketing divisions, both to ensure you are running your business correctly and to assist you with any issues.
The most successful franchisors are those that recognize their franchisees must be successful first. And while franchisee success depends on individual commitment to following the system, working actively and promoting the business, the franchisor’s support is also necessary for both parties to grow and prosper.
The importance of waiting
The franchise selection process can be long and often involves trial and error. Don’t get discouraged. It can take months or sometimes even years to find the right opportunity, but you will know it when you do, as it will truly excite you.
Remember, it’s your money and you are in the driver’s seat, no matter what sales pitch you are given. Wait for the right franchise and do not feel obligated to anyone. Take your time and do your homework properly.
Lori Karpman is president and CEO of Montreal-based Lori Karpman & Associates. She is a business consultant and has been a lawyer, franchisor and master franchisee. For more information, visit www.lorikarpman.com.