We're back again, to continue discussing questions to ask franchisees during your due diligence phase, we've been asking a lot of questions in a lot of different categories. Prior to this check out our previous episodes/posts on this topic. Today, we're gonna be covering some questions to ask regarding relationships.
So question number one on relationships.
What do you like most and least about the relationship with your franchisor?
It's really going to depend at what phase of franchise ownership you ask that question. If Dave, a prospect of the franchisee, is asking me when I'm just a newer franchisee my answer would be I love the support and they're always there to help me and support me. If I were answering that question now, 16 years into the business, I would have a much different answer. Therefore, that's why you want to understand the person that you're talking to, how long have they been in the business? Again, we keep saying this, but it's worth repeating, are they a top, mid or a bottom level performer? That goes into interviewing enough franchisees that are at different lengths of time in the franchise. If your talk to new, mid, been there 16 years you're gonna get different answers.
Do you feel you have a positive rapport with your franchisor and your fellow franchisees?
My answer would be yes. 16 years later I can send an email. I actually just did yesterday and I can send an email to my franchisor when I have a question and they respond immediately that it makes me feel good. It’s nice because I know I can get the answers that I need from a franchisee's perspective. I love that we have our own little franchise or Facebook group. You can go on and ask questions, post a challenge or post a success. People really are there supporting each other.
continued ... listen to the full episode/podcast