Would You Do It Again?

This simple question is probably one of the most important to ask current franchisees of any system you are exploring. It gets straight to the point of everything you are ultimately trying to uncover in your due diligence. ..... having walked in the shoes as an xyz franchisee ,would you do it all over again?

Over the last few years, two new companies have entered the market and conduct "satisfaction" type surveys of their client systems. Franchise Business Review and Fransurvey are the most widely recognized and both provide in-depth reports. Their surveys provide great insights into a system but they should never replace your calls directly to current and former franchisees. Why? Simple. I am always a little skeptical of surveys that are ultimately contracted and paid for by the franchisor. Besides, nothing beats a direct question and an old fashioned direct answer.

If the franchise you are researching is featured on one of these sites, use the reports to identify responses that may be troubling to you (ie hours worked, weekends worked, sufficient working capital etc) and ask franchisees during your calls to expand on the questions.

Have a great week!


Rob