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Forbes: Why it’s Important for Franchisees To Secure the Right Real Estate

SMB Franchise Advisors president and CEO Steve Beagelman details why choosing the right real estate is essential to both franchisee and franchisor success.

Real estate can make or break a brick-and-mortar business, making it vital for franchisees to secure a location that fits their brand’s qualifications to a T. New owners need to be educated on what they should look for in a retail space in order for both parties, the franchisee and franchisor, to be successful.

In his latest Forbes column, Beagelman shares seven tips that franchisors should take into consideration when helping franchisees looking for real estate: Establish the criteria of your desired space; don’t settle on a just-average location; bigger isn’t necessarily better; research  a site’s economic attributes; turn to the franchisee for local advice; collaborate with expert real estate agents and brokers; and act fast when you find a location that meets all qualifications. 

“Since most franchisors put the onus on the franchisee to find the site, it’s imperative to educate new owners prior to their search on what they should look for in a retail space,” Beagelman writes. “If you’re an emerging franchise and allow the franchisee to choose a bad site, it could spell doom for their business and your brand.”

To read the full article, click here.