The Case For Attending a Franchise Expo During The Discovery Process

Making the decision to buy a franchise is complex and often overwhelming. There are thousands of potential business opportunities in a variety of industries, so how do you choose the right one? While researching brands and franchise systems online is critical to the process, Googling “franchise business opportunities” will return thousands of websites that all position themselves as “the best franchise to buy.” Then, you’re stuck in a vortex of clicking on websites and portals and business directories and industry publications (like this one), all seemingly guiding you in different directions. 

So how do you figure out which business is right for you?

The opportunity to learn about a brand directly from the source is invaluable and can also help narrow down the options. Attending a Franchise Show or Expo during the discovery process can streamline the process and allow you to conduct your research directly with brands. Additionally, these shows often have seminars or educational workshops for the prospective franchisee as well as networking events. 

In order to make the most of attending one of these Shows (and there are many across the US), it’s best to do your research first. The expo and show websites will list the brands that will be exhibiting. Popular expos are International Franchise Expo through MFV Expositions which hosts several national shows across the country. If you’re looking to build a multi-unit portfolio, the Multi-Unit Franchising Conference produced by Franchise Update Media attracts popular and profitable brands and provides workshops and panel sessions to better understand how to navigate franchise systems. The Franchise Show produces 26 regional events across North America, creating the opportunity for face-to-face discussions with franchisors and info-rich seminars ranging from legal advice to marketing strategies.

Once you’ve chosen the show you want to attend, it’s best to attack the show with a predetermined plan of action. Michael Hyam, National US Show and Sales Manager for The Franchise Show, advised taking advantage of the hundreds of brands that are under one roof, leveraging the opportunity to talk to franchisors face-to-face. He said to come prepared with the right questions, such as:

• What are the numbers? What is the investment? Can I afford it? How much capital will I need? How soon can I expect to make money?
• How is franchisee satisfaction?
• What is the financial strength of the company? Is it investment-backed? Reputable? Emerging? How many locations have closed?
• What training and support can you expect from the brand? 
• What territories are available? How are they protected? 

Steve Beagelman, Founder and CEO of SMB Franchise Advisors*, offered similar advice. Those prospects with general answers in mind to questions like these “will be better prepared to narrow down their options based on what they discover from their interactions with franchisors.”

After the show, perform your due diligence and further your research with the brand. If the brand also feels like you are a quality prospective candidate, you can expect a phone call fairly quickly after the show. 

Making a significant investment in a brand requires an intense research phase. If you are able to attend a franchise show or expo, you can streamline your discovery process and personally connect with potential franchisors from multiple industries and varied investment levels. These shows give you the opportunity to ask detailed questions and learn more about a brand, helping to eliminate the overwhelming feeling the initial online research experience can bring.